President Joe Biden - Kamala Harris Administration

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#42,601
GURGAVIN
@gurgavin
1h
🚨 BREAKING 🚨

THE FEDERAL RESERVE IS IN TALKS TO MAKE A FUND TO BACKSTOP DEPOSITS IF MORE BANKS FAIL



US weighs new fund to backstop deposits if more banks fail, Bloomberg News says.
March 11, 20237:22 PM CSTLast Updated 24 min ago

March 11 (Reuters) - The U.S. Federal Reserve and the Federal Deposit Insurance Corp are weighing the creation of a fund that would allow regulators to backstop more deposits at banks that run into trouble in the wake of Silicon Valley Bank's collapse, Bloomberg News reported on Saturday.

Regulators discussed the new special vehicle in conversations with banking executives and hope such a measure would reassure depositors and help contain any panic, the report said, citing people familiar with the matter.

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Hedge funds are offering to buy startups’ deposits stuck at Silicon Valley Bank | Semafor

"Hedge funds are offering to buy startups’ deposits stranded at Silicon Valley Bank for as little as 60 cents on the dollar, pitching expensive but crucial lifelines to founders unable to access their cash after the lender collapsed yesterday, people familiar with the matter said."



 
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#42,605
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85SugarVol said:
I had never heard of this bank. I can only assume they were all aboard the ESG train?
Click to expand...

I haven’t either and I assume the same. I find it hard to believe the senior officers would make those trades without being pretty confident they wouldn’t be prosecuted.
 
#42,606
#42,606
85SugarVol said:
I had never heard of this bank. I can only assume they were all aboard the ESG train?
Click to expand...
hog88 said:
I haven’t either and I assume the same. I find it hard to believe the senior officers would make those trades without being pretty confident they wouldn’t be prosecuted.
Click to expand...
It would appear I was wrong.

This has nothing to do with ESG
This also has nothing to do with Trump

These people were just really really dumb. I mean they got caught short and failed over basic ABC-123 type sh!t…

What happens to bond prices when interest rates go up?

Anyone? Bueller?
 
#42,611
#42,611
jmacvols1 said:
GURGAVIN
@gurgavin
1h
🚨 BREAKING 🚨

THE FEDERAL RESERVE IS IN TALKS TO MAKE A FUND TO BACKSTOP DEPOSITS IF MORE BANKS FAIL



US weighs new fund to backstop deposits if more banks fail, Bloomberg News says.
March 11, 20237:22 PM CSTLast Updated 24 min ago

March 11 (Reuters) - The U.S. Federal Reserve and the Federal Deposit Insurance Corp are weighing the creation of a fund that would allow regulators to backstop more deposits at banks that run into trouble in the wake of Silicon Valley Bank's collapse, Bloomberg News reported on Saturday.

Regulators discussed the new special vehicle in conversations with banking executives and hope such a measure would reassure depositors and help contain any panic, the report said, citing people familiar with the matter.

----------------------------------

Hedge funds are offering to buy startups’ deposits stuck at Silicon Valley Bank | Semafor

"Hedge funds are offering to buy startups’ deposits stranded at Silicon Valley Bank for as little as 60 cents on the dollar, pitching expensive but crucial lifelines to founders unable to access their cash after the lender collapsed yesterday, people familiar with the matter said."



Click to expand...



Trump has the foresight of Superman. The guy is on the money about so much. Mean tweets though...
 
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#42,614
'Use discount code BANKRUN': Toyshop and kids' experience firm with cash tied up in collapsed SVB offers parents 40% off its goods in desperate bid to stay afloat

A New York-based Toy Store has slashed its prices in a desperate bid to stay afloat following the collapse of Silicon Valley Bank.

Camp toy store fired off an email to customers on Friday telling them to use the tongue-in-cheek discount code 'BANKRUN' to save 40 percent on their merchandise.

The firm - which has collaborated with multiple high-profile celebrities including Drew Barrymore and Neil Patrick Harris - said much of its cash was tied up in SVB, which became the largest bank to fail in the U.S since the 2008 financial crisis.

'Unfortunately, we had most of our company’s cash assets at a bank which just collapsed. I’m sure you’ve heard the news,' co-founder Ben Kaufman said in an email.

Toyshop tied up in collapsed SVB offers parents 40% off its goods in bid to stay afloat | Daily Mail Online

Contagion spreads: Desperate customers line up outside First Republic Bank to take their money out - after SVB bank collapsed and sent shockwaves through market

  • First Republic Bank customers lined up to withdraw their money Saturday
Customers line up outside First Republic Bank to take their money out - after SVB bank collapsed | Daily Mail Online

Mompreneurs on Etsy say they can't 'pay the mortgage or feed their kids' after their payments failed to arrive because firm used shuttered Silicon Valley Bank to process sales - as fallout from Collapse Hits Ordinary Families

  • Etsy sellers say they cannot pay their bills after the online marketplace froze some transactions following the collapse of Silicon Valley Bank
Etsy sellers fear they will be unable to pay their bills after the online marketplace was forced to freeze transactions following the collapse of Silicon Valley Bank.

But the collapse has not just affected wealthy tech entrepreneurs, with a wave of small business owners also caught in the crossfire.

Mompreneurs on Etsy hit by SVB collapse and can't pay their bills | Daily Mail Online

Roku says 26% of its cash reserves are stuck in Silicon Valley Bank

  • Around $487 million, or 26%, of Roku’s cash reserves are stuck at Silicon Valley Bank, the streamer said in a Friday SEC filing.
https://www.cnbc.com/2023/03/10/roku-says-26percent-cash-reserves-stuck-in-silicon-valley-bank.html
 
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#42,616
#42,616
That’s the problems with fractional banking and runs on the banks. Your money isn’t at the bank. Your account just has a posted amount in it, but the actual cash is long gone. Hope this contagion is limited to California regional banks.
 
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#42,617
#42,617
Franklin Pierce said:
'Use discount code BANKRUN': Toyshop and kids' experience firm with cash tied up in collapsed SVB offers parents 40% off its goods in desperate bid to stay afloat

A New York-based Toy Store has slashed its prices in a desperate bid to stay afloat following the collapse of Silicon Valley Bank.

Camp toy store fired off an email to customers on Friday telling them to use the tongue-in-cheek discount code 'BANKRUN' to save 40 percent on their merchandise.

The firm - which has collaborated with multiple high-profile celebrities including Drew Barrymore and Neil Patrick Harris - said much of its cash was tied up in SVB, which became the largest bank to fail in the U.S since the 2008 financial crisis.

'Unfortunately, we had most of our company’s cash assets at a bank which just collapsed. I’m sure you’ve heard the news,' co-founder Ben Kaufman said in an email.

Toyshop tied up in collapsed SVB offers parents 40% off its goods in bid to stay afloat | Daily Mail Online

Contagion spreads: Desperate customers line up outside First Republic Bank to take their money out - after SVB bank collapsed and sent shockwaves through market

  • First Republic Bank customers lined up to withdraw their money Saturday
Customers line up outside First Republic Bank to take their money out - after SVB bank collapsed | Daily Mail Online

Mompreneurs on Etsy say they can't 'pay the mortgage or feed their kids' after their payments failed to arrive because firm used shuttered Silicon Valley Bank to process sales - as fallout from Collapse Hits Ordinary Families

  • Etsy sellers say they cannot pay their bills after the online marketplace froze some transactions following the collapse of Silicon Valley Bank
Etsy sellers fear they will be unable to pay their bills after the online marketplace was forced to freeze transactions following the collapse of Silicon Valley Bank.

But the collapse has not just affected wealthy tech entrepreneurs, with a wave of small business owners also caught in the crossfire.

Mompreneurs on Etsy hit by SVB collapse and can't pay their bills | Daily Mail Online

Roku says 26% of its cash reserves are stuck in Silicon Valley Bank

  • Around $487 million, or 26%, of Roku’s cash reserves are stuck at Silicon Valley Bank, the streamer said in a Friday SEC filing.
https://www.cnbc.com/2023/03/10/roku-says-26percent-cash-reserves-stuck-in-silicon-valley-bank.html
Click to expand...

Yeah.....this could get much worse, but I hope not.
 
#42,618
#42,618
How SVB Was Doomed By a Bad Bet on Mortgage Securities and the Fed's Rate Hikes

How SVB Was Doomed By a Bad Bet on Mortgage Securities and the Fed’s Rate Hikes


The Dems created the bureaucratic Consumer Financial Protection Bureau to stop these things from happening yet the CPFB along with the DOJ are still going after banks for 'redlining' forcing banks into making bads loans...

DOJ announces $9 million agreement to resolve redlining allegations against Park National Bank
DOJ announces settlement of redlining lawsuit
DOJ announces major new initiative targeting redlining; DOJ/CFPB/OCC settle redlining lawsuit against Mississippi-based national bank
CFPB Files First Ever Redlining Complaint Against a Non-Bank Mortgage Lender


The implosion of Silicon Valley's largest bank has investors worried worse is to come: 'There might be some kind of crack in the financial system'
 
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#42,619
#42,619
jmacvols1 said:
How SVB Was Doomed By a Bad Bet on Mortgage Securities and the Fed's Rate Hikes

How SVB Was Doomed By a Bad Bet on Mortgage Securities and the Fed’s Rate Hikes


The Dems created the bureaucratic Consumer Financial Protection Bureau to stop these things from happening yet the CPFB along with the DOJ are still going after banks for 'redlining' forcing banks into making bads loans...

DOJ announces $9 million agreement to resolve redlining allegations against Park National Bank
DOJ announces settlement of redlining lawsuit
DOJ announces major new initiative targeting redlining; DOJ/CFPB/OCC settle redlining lawsuit against Mississippi-based national bank
CFPB Files First Ever Redlining Complaint Against a Non-Bank Mortgage Lender


The implosion of Silicon Valley's largest bank has investors worried worse is to come: 'There might be some kind of crack in the financial system'
Click to expand...
Similar phenomena to the ‘08 meltdown…

Why aren’t you loaning money to these people? Are you racist?

“Every American deserves to own a home”
 
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'The government has 48 hours': Billionaire investor Bill Ackman calls on Biden to bail out SVB by Monday MORNING or face catastrophic market meltdown and Loss of Tens of Thousands of Jobs

Billionaire hedge fund manager Bill Ackman is forecasting 'economic meltdown' within hours of the banks opening up on Monday morning following the failure of Silicon Valley Bank.

Ackman is urging for the U.S. government to finally step in and protect all of the bank's depositors, warning inaction could lead to a ripple effect across other smaller banks within the industry.

The worry is that customers will rush to withdraw cash from their accounts fearing instability across the banking system with the very real possibility of a domino effect.

Billionaire investor Bill Ackman warns more banks will collapse tens of thousands of jobs lost | Daily Mail Online
 
#42,624
#42,624
Orangeburst said:
The market tomorrow,,crimey
Click to expand...
Look at it like a buying opportunity. In the post right above yours Ackman is a billionaire investor begging for the Fed to remove investing risk. Completely shocking an investor would demand that. If he can’t take the heat get out of the kitchen.

You’re retired now. Don’t spiral on all this crap the plebes have to deal with daily. Just enjoy life.
 
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#42,625
#42,625
NorthDallas40 said:
Look at it like a buying opportunity. In the post right above yours Ackman is a billionaire investor begging for the Fed to remove investing risk. Completely shocking an investor would demand that. If he can’t take the heat get out of the kitchen.

You’re retired now. Don’t spiral on all this crap the plebes have to deal with daily. Just enjoy life.
Click to expand...

Yea..this nation isn't going to heck in a hand basket. In fact I have a lot of money sitting in the bank at this time waiting for investment. So yea with the catastrophic admin, inflation, a major European war, etc...Yea..I need to know how the FDIC is handled.
 
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