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Started By
Message
It wasn’t a Run
Posted on 3/13/23 at 9:17 am
Posted on 3/13/23 at 9:17 am
A “Run” implies a lot of people pulling money out at the same time. 42 Billion overnight? From a bank most people have never heard of?
This is one benefactor knowing what he had, what this bank was doing (Crypto), and pulling out all of their money.
This is one benefactor knowing what he had, what this bank was doing (Crypto), and pulling out all of their money.
8
Posted on 3/13/23 at 9:18 am to GoldenGuy
What?
Posted on 3/13/23 at 9:20 am to GoldenGuy
How about explaining your theory ?
Posted on 3/13/23 at 9:21 am to GoldenGuy
quote:
A “Run” implies a lot of people pulling money out at the same time. 42 Billion overnight? From a bank most people have never heard of?
This is one benefactor knowing what he had, what this bank was doing (Crypto), and pulling out all of their money.
wut
Posted on 3/13/23 at 9:22 am to SlowFlowPro
it's complicated.......lol
Posted on 3/13/23 at 9:29 am to GoldenGuy
quote:
This is one benefactor knowing what he had, what this bank was doing (Crypto), and pulling out all of their money.
You are dead wrong. I personally know a guy who pulled out about $75 million. This was not one guy. This was a classic run.
It's all been exposed. When the bank tried to raise capital it alerted some investors who were involved in a lot of startups that banked with SVB. They advised their clients to get their money out. This is what started the run.
Posted on 3/13/23 at 9:30 am to GoldenGuy
A jog? A really fast walk, maybe? A fall up the stairs?...
Posted on 3/13/23 at 9:34 am to Penrod
quote:
You are dead wrong. I personally know a guy who pulled out about $75 million. This was not one guy. This was a classic run.
It's all been exposed. When the bank tried to raise capital it alerted some investors who were involved in a lot of startups that banked with SVB. They advised their clients to get their money out. This is what started the run.
So rich people with connections were tipped off and somehow this makes the bank an innocent victim so it is all good?
if only all depositors had just let the bank continue its shitty management in peace
Posted on 3/13/23 at 9:37 am to GoldenGuy
The crypto industry has many issues, but I am not sure why anyone is blaming this on crypto. This has nothing to do with that and everything to do with how these banks managed their depositor funds....
Posted on 3/13/23 at 9:42 am to SoggyBottomBaw
quote:
A jog? A really fast walk, maybe? A fall up the stairs?...
If you said fall off a non-moving bicycle I would answer " who is joe biden"
Posted on 3/13/23 at 9:42 am to rhar61
quote:
So rich people with connections were tipped off
Well, everything was made public, including the VC managers' warnings. That is what started the run.
Posted on 3/13/23 at 10:13 am to rhar61
quote:
So rich people with connections were tipped off and somehow this makes the bank an innocent victim so it is all good?
What? That's not what I said. The poster said it wasn't a run. I said it WAS a run and I gave evidence. What in this simple exchange caused you to draw that conclusion?
Posted on 3/13/23 at 10:16 am to GoldenGuy
quote:
42 Billion overnight? From a bank most people have never heard of?
It's a very niche bank. Everyone who works in tech knows what SVB was.
quote:
This is one benefactor knowing what he had, what this bank was doing (Crypto), and pulling out all of their money.
Uh ... no.
Posted on 3/13/23 at 10:18 am to GoldenGuy
Everyone is in on the take
Posted on 3/13/23 at 11:05 am to rhar61
quote:
So rich people with connections were tipped off and somehow this makes the bank an innocent victim so it is all good?
if only all depositors had just let the bank continue its shitty management in peace
These are not mutually exclusive.
Thiel & Sam Altman may have started the "straw that broke it's back", but the mismanagement & collapse were the inevitable cause/effect regardless.
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