Bank failures have started

[Circe]

We should see interesting articles in the news tomorrow, as things start settling out and becoming clear, IMO.

And then Monday ---------------------- who knows.

 

[Synthaholic]

 

[22lcidw]

He wasn't. You cannot point to a single piece of legislation from Trump's 4 years that helped American workers or the economy. He was giving massive tax breaks to the wealthy like himself, and corporations, which did nothing with it to help American workers or the economy. They instead bought back their own stock.

Anyone still believing in trickle-down economics is just willfully ignorant.

Enough of this. Joe is da one placed into office y the elites. Two years of total control y the Progs who passed near all the legislation they wanted. Joe has EO's signed through the roof of the White House. Joe and many in D.C. are traitors. Debts from world fiat currencies are massive and can go back many centuries. All of it swishing around and even used to plug problems as they occur. At times nastiness happens. Joe has been in D.C. for a half century. Much of our debts has occurred during that time.

 

[Synthaholic]

Trumpers and wingnuts have gotten their talking points and their marching orders.

 

[Synthaholic]

Enough of this. Joe is da one placed into office y the elites. Two years of total control y the Progs who passed near all the legislation they wanted. Joe has EO's signed through the roof of the White House. Joe and many in D.C. are traitors. Debts from world fiat currencies are massive and can go back many centuries. All of it swishing around and even used to plug problems as they occur. At times nastiness happens. Joe has been in D.C. for a half century. Much of our debts has occurred during that time.

• Dismiss my point and refuse to counter it with any facts.
• Deflect to Joseph Biden (God's choice)

 

[saveliberty]

Silicon Valley Bank

The 16th largest bank in the country with more expected to fail.

This is not good news.

Really? More banks made $20b in bad loans? Been a known risk for weeks. The only losers here are start up tech companies with no where else to get capital.

 

[para bellum]

Roku said they had $487 Million tied up in SVB deposits. That was 1/4 of their cash, they had it split among 4 banks.

 

[Devils_Advocate]

My great-grandmother was born in 1874 and my grandmother was born in 1912 and I am only fifty...

 

[Oddball]

My great-grandmother was born in 1874 and my grandmother was born in 1912 and I am only fifty...

Repeat to yourself it's just a meme, I should really just relax.....

 

[Mac1958]

 

[miketx]

Well..lessee--all the depositors money is safe, so there's that. Oh, and after an extensive web crawl, I found nothing to indicate that this is the beginning of anything.
So, your opinion is noted..as is the fact that it is not shared by anyone in the industry.

SVP screwed up, simple as that. The US has stepped in and the FDIC is doing its job. The sky is NOT falling~

From the OP link:

• The FDIC said in the announcement that insured depositors will have access to their deposits no later than Monday morning.
• SVB's branch offices will also reopen at that time, under the control of the regulator.
• The FDIC's standard insurance covers up to $250,000 per depositor, per bank, for each account ownership category.

According to press releases from regulators, the California Department of Financial Protection and Innovation closed SVB and named the FDIC as the receiver. The FDIC in turn has created the Deposit Insurance National Bank of Santa Clara, which now holds the insured deposits from SVB.
The FDIC said in the announcement that insured depositors will have access to their deposits no later than Monday morning. SVB's branch offices will also reopen at that time, under the control of the regulator.
According to the press release, SVB's official checks will continue to clear.
The FDIC's standard insurance covers up to $250,000 per depositor, per bank, for each account ownership category. It is unclear exactly how larger accounts or credit lines for companies will be impacted by the closure. The FDIC said it will pay uninsured depositors an advanced dividend within the next week.

Silicon Valley's burning bank

The bank's failure would be the biggest since Washington Mutual.

www.axios.com

You don't know shit.

 

[miketx]

Lol these shit stains can't stop yapping about trump.

 

[Mac1958]

Lol these shit stains can't stop yapping about trump.

Tough shit, Trumpster.

 

[miketx]

Tough shit, Trumpster.

LOL, pos can't stop...

 

[mak2]

Fox this morning, after, of course, getting the home Depot guy to say it was all Biden's fault, suggested it was the bank President's fault for focusing on LGBT month the month before. Fox is like the 700 Club, and far more dishonest.

 

[percysunshine]

Timing is everything....

Being heavy into ESG investing at least gets you popular.

Vaporizing capital...meh, not so much

 

[Manonthestreet]

MSN

 

[amethyst]

SVB Fallout Spreads Around World From London to Singapore

(Bloomberg) -- The fallout from the collapse of Silicon Valley Bank is beginning to spread around the world. Most Read from BloombergUS Discusses Fund to Backstop Deposits If More Banks FailSVB Fallout Spreads Around World From London to SingaporeStartup Bank Had a Startup Bank RunFDIC Races to...

news.yahoo.com

 

[amethyst]

Before it hits the news

Alerts

 

[amethyst]

Customers line up outside First Republic Bank to take their money out

On Saturday, dozens of customers were shown lining up outside of a First Republic Bank in southern California, eager to withdraw their funds in the wake of the collapse of SVB this week.

www.dailymail.co.uk