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I don't understand why a bank as LARGE as SVB is not considered a big bank, and under big bank rules?But he did advocate and sign the kinds of reforms that *might* have prevented this. To be completely fair, the bill had fairly strong bipartisan support. Dems can't win elections without the support of the banking/finance sector, so they are forced to moderate from time to time.
The reality of this should rattle us awake - all of us. We need to get beyond the political point scoring and understand we got lucky this time. Next time we may not be so fortunate if the risk of unrealized risk and losses begins to seep into the really big banks. We're in danger of a financial blowup that would take not just months but years or even decades to fix.
The FDIC FUNDS are funds in a kitty that SVB paid for the insurance coverage by FDIC....is my understanding on how Fdic insurance works....^^ wrong on all accounts.
They are funding the deposits over $250k by raiding the FDIC funds meant for the people with $250k or less.
Funny how you claim this particular deregulation led to this failure, with zero proof.
The people running this bank were woke idiots focused on Climate change and equity. They weren’t forced to make bad decisions and bad investments. They did it, not President Trump or the GOP Congress.
I don't understand why a bank as LARGE as SVB is not considered a big bank, and under big bank rules?
Dems that supported it, supported it for the right reason, but picked the wrong law.... Allegedly this was to ease regulations on small local banks and midsize banks.... So they could be a part of local and community lending....
SVB deals in over 100 billion to 200 billion, don't they? How are those amounts a small or midsize bank???
They say Barney Frank (in his lobbyist role) was behind getting dem support for it.....Right there would have been a huge red flag to me.I guess you didn't bother to read the article you linked because if you had, you would have known that it passed with BIPARTISAN SUPPORT.
Dumb ass.
They did it because the deregulation ALLOWED them to do it, silly one!
And? It was still “bi-partisan”.160 of house dems voted NO, 33 in house D's voted YEA
31 DEM senators voted NO, 17 DEM senators voted YEA!
So between both houses 50 democrats in total house and senate voted YEA out of 191 democrats in total, or something like that...
The UK side was bought by HSBC
How absolutely hilarious, for two hole years they had the opportunity to do something if this was so bad, and did nothing? Exactly like the train breaking issue!
The total Deposit Insured funds for the whole nation is $128 billion. SVB non-insured deposits were near $200 billion.The FDIC FUNDS are funds in a kitty that SVB paid for the insurance coverage by FDIC....is my understanding on how Fdic insurance works....
Supposedly, SVB had $1 billion in the kitty.... Is what I heard on the news the other day...but I was just listening to background news while doing another household task, so I could be off on the amount....?
Biden reversed it two years agoYes, the Traitor did repeal banking regulations that led to failure of SVB.
Trump signs the biggest rollback of bank rules since the financial crisis
The measure designed to ease rules on all but the largest U.S. banks passed both chambers of Congress with bipartisan support.www.cnbc.com
It never fails, banking regulations get rolled back or repealed and then banks fail. The banking disaster of 2008 was a direct result of banking speculation. As usual, it took a Democrat to fix what the ConJobs fucked up. Mortgage Backed Securities are a crap shoot and major investment firms who pushed failed.....who'd a thunk it.
Yes, Mr. Biden is acting quickly to support the accounts owners SVB.
Government races to reassure US that banking system is safe
Depositors withdrew savings, and investors broadly sold off bank shares as the federal government raced to reassure Americans that the banking system is secure following two bank failures.apnews.com
NO, the people who invested in SVB will NOT get their money back. When you invest you are taking a gamble of success, but you are also responsible for what you have done. You played and you lost.
Depositors will with accounts up to $250,000.00 will get their money back.
Investors get shit, you fucked up eat it.
How absolutely hilarious, for two hole years they had the opportunity to do something if this was so bad, and did nothing? Exactly like the train breaking issue!
The Psychocrats always steal credit and shift blame.
How absolutely hilarious, for two hole years they had the opportunity to do something if this was so bad, and did nothing? Exactly like the train breaking issue!
The Klanocrats did the same thing to Bush.
Barney fucking Frank was on the board of one of the banks that collapsed.Yes, the Traitor did repeal banking regulations that led to failure of SVB.
Trump signs the biggest rollback of bank rules since the financial crisis
The measure designed to ease rules on all but the largest U.S. banks passed both chambers of Congress with bipartisan support.
It never fails, banking regulations get rolled back or repealed and then banks fail. The banking disaster of 2008 was a direct result of banking speculation. As usual, it took a Democrat to fix what the ConJobs fucked up. Mortgage Backed Securities are a crap shoot and major investment firms who pushed failed.....who'd a thunk it.
Yes, Mr. Biden is acting quickly to support the accounts owners SVB.
Government races to reassure US that banking system is safe
Depositors withdrew savings, and investors broadly sold off bank shares as the federal government raced to reassure Americans that the banking system is secure following two bank failures.
NO, the people who invested in SVB will NOT get their money back. When you invest you are taking a gamble of success, but you are also responsible for what you have done. You played and you lost.
Depositors will with accounts up to $250,000.00 will get their money back.
Investors get shit, you fucked up eat it.
dnyuz.com
Biden and Yellen so far did do a good job containing the spread from the collosal fuck up that they themselves created with staggering inflation and equally staggering rate hikes to attempt to mitigate the inflation.
How absolutely hilarious, for two hole years they had the opportunity to do something if this was so bad, and did nothing? Exactly like the train breaking issue!
All the big corporations couldn't be happier. They've got us fighting with each other playing the blame game while they get away with murder while making record profits and paying no taxes.But he did advocate and sign the kinds of reforms that *might* have prevented this. To be completely fair, the bill had fairly strong bipartisan support. Dems can't win elections without the support of the banking/finance sector, so they are forced to moderate from time to time.
The reality of this should rattle us awake - all of us. We need to get beyond the political point scoring and understand we got lucky this time. Next time we may not be so fortunate if the risk of unrealized risk and losses begins to seep into the really big banks. We're in danger of a financial blowup that would take not just months but years or even decades to fix.
Biden and Yellen so far did do a good job containing the spread from the collosal fuck up that they themselves created with staggering inflation and equally staggering rate hikes to attempt to mitigate the inflation.
But so far they have stemmed a run on the banks...and that is good.
But as Mrs. MOe aptly put it.
It's like Biden and Yellen broke both your legs...but then gave you a pair of crutches.
Ya, you done some good, but we wouldn't need these if you hadn't broke things so badly first.
