stock market was up today...

[UT_VOLS13]

Peter Thiel's Founders Fund got its cash out of Silicon Valley Bank before it was shut down, report says

 

[NorthDallas40]

To failing banks?

To all banks. That is how they put money in and out of circulation. The context was making sure money is available to all banks that need short term funding not for SVB

 

[UT_VOLS13]

Treasury, FDIC's top priority is to find buyer for Silicon Valley Bank, hours before Asia markets open (msn.com)

 

[MurphyVol]

You know you seem that regardless of what is said you want to be pissed off about this regardless of what is posted.

I have to be honest right now I’m more concerned how bad ATT is going to screw up the fiber install on my house on Tuesday than I am about any potential fallout from SVB. The article also mentioned Signature bank in NY, NY was also shut down under apparently similar circumstances. I read that as more bad risk management. And I’m still more worried about ATT than I am either of these banks.

Bingo, a lot of people want to see catastrophe to make the Biden look bad (and vice versa when Trump was in office)

If the government had acted sooner in 2008 and hadn't has the dumb "marked to market" rule for the collateralized debt obligations then things would have been a lot easier.

 

[NorthDallas40]

Peter Thiel's Founders Fund got its cash out of Silicon Valley Bank before it was shut down, report says

There have been several reports like this. Like maybe some calls were made to preferential clients to get a head start on the incoming run.

 

[Orangeburst]

We have become Pussifed to never failing and someone to back one up. Whether sports, bad life choices, etc.. Always someone else's fault to the point that gov is now considering reparations to slavery victims 150 years ago.

So the gov steps in and spends Tens of trillions, sets laws that discount personal responsibility, poverty is still rampant..

Gov GUARENTEES. How ****ing laughable is that?

Damn what rubes

 

[Orangeburst]

"Investors will be made whole"..Feds

IOW what the hell..are you bailing out behind FDIC?

 

[Ernest T. Vol]

This might be the end of rate hikes and a pivot may be at hand. The FED is literally hosing money into SVB....kind of QE'sh if you ask me.

 

[Jax_Vol]

Yup

U.S. officials move to protect all deposits at Silicon Valley Bank - The Washington Post

 

[Orangeburst]

Yellen at lunch..no bailout
The Feds tonight..oh ****..better contain

 

[Orangeburst]

Yup

U.S. officials move to protect all deposits at Silicon Valley Bank - The Washington Post

Bailing out over $250K?

The decision by Treasury to backstop all of SVB’s deposits — not just those up to $250,000 that are automatically insured under federal law — will likely ignite a political firestorm over the decision to protect the assets of tech firms, venture capitalists, and other rich people in California.

There you go rubes..the 16th biggest bank ie too Big To Fail..

Poor FDIC

 

[Orangeburst]

And BTW..dont forget to pay the pensions of Ukrainians..Commitments and all

 

[85SugarVol]

Treasury, Federal Reserve, FDIC release joint statement mapping out approach to Silicon Valley Bank collapse

Depositors will have access to all of their money starting Monday, March 13. The taxpayer will bear no losses associated with the resolution of SVB.

Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

The Federal Reserve said it would make additional funding available to "eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors."

Depositors will have access to all of their money.
Taxpayers will bear no losses.

Well who is paying up?

 

[UT_VOLS13]

Depositors will have access to all of their money.
Taxpayers will bear no losses.

Well who is paying up?

Good question

 

[Orangeburst]

The economy is so strong that it cannot handle the loss of the 16th largest bank in America.

 

[NorthDallas40]

Depositors will have access to all of their money.
Taxpayers will bear no losses.

Well who is paying up?

About four posts up is an article outlining the plan. I inferred that they are letting the banks use the depressed valued treasuries as collateral at their original purchase price instead of their current depressed value with a loan term of up to one year. They can’t buy the treasuries as that would realize the loss at their current depressed value.

TLDR version. Very favorable loan terms for one year loans.

 

[Orangeburst]

This might be the end of rate hikes and a pivot may be at hand. The FED is literally hosing money into SVB....kind of QE'sh if you ask me.

How can they end hikes? Inflation over?

 

[Fun coupon VOL]

Yup

U.S. officials move to protect all deposits at Silicon Valley Bank - The Washington Post

This is corrupt as it gets. Bunch of chicken ***** running the show.

 

[Orangeburst]

The Federal gov just did it again..protected all investments into a bank. made whole


This is like so wrong and a micro of 2008 that makes me think..this is one ****ed up system.

The Never Fails system is like monumentally worst to capitalism. And dont forget it is all blamed on capitalism and victim mentality

 

[Fun coupon VOL]

How can they end hikes? Inflation over?

Sorta hard to end inflation when the morons running the show can’t see 12 feet in front of them.

Crypto was fairy dust and inflated everything more than what everyone thinks.

 

[85SugarVol]

About four posts up is an article outlining the plan. I inferred that they are letting the banks use the depressed valued treasuries as collateral at their original purchase price instead of their current depressed value with a loan term of up to one year. They can’t buy the treasuries as that would realize the loss at their current depressed value.

TLDR version. Very favorable loan terms for one year loans.

WAPO actually spilled the beans.

Janet Yellen is lying through her fat f@cking face…

They are going to use a $100B fund (backstopped by the US Treasury cough, cough) to make depositors whole.

They just lied. Go figure.

 

[Orangeburst]

WAPO actually spilled the beans.

Janet Yellen is lying through her fat f@cking face…

They are going to use a $100B fund (backstopped by the US Treasury cough, cough) to make depositors whole.

They just lied. Go figure.

But you believe your account is FDIC protected to $250K?

 

[85SugarVol]

Earlier in the day, in calls with federal banking regulators late Saturday and Sunday, Democrats said they were “praying for a buyer,” said Rep. Brad Sherman (D-Calif.), a member of the House Financial Services Committee.

The assertions that the decisions do not amount to a “bailout,” however, are likely to be challenged by critics of the move. While the fund going to the depositors is paid into by U.S. banks, it is ultimately backstopped by the Treasury Department — and therefore U.S. taxpayers.

https://www.washingtonpost.com/us-policy/2023/03/12/silicon-valley-bank-deposits/

 

[85SugarVol]

But you believe your account is FDIC protected to $250K?

I don’t understand your question.

 

[NorthDallas40]

So here is a Forbes article that gives the most background detail I’ve seen. I thought SVB had invested heavily in treasuries. No they had invested in high quality mortgage bonds. Which there isn’t anything wrong with that as they are safe investments in regards to default but they are going to swing more than treasuries since they are the standard. They pay more interest and thus moved more in valuation as interest rates rose.

For both SVB and Signature the shareholders are wiped out. Their money is gone. This is more dealing with whomever winds up buying both banks’s assets for longer term servicing.

https://www.forbes.com/sites/qai/20...n-causes-collapse-of-silicon-valley-bank/amp/