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re: First Republic Bank about to go under; government takeover imminent

Posted on 4/28/23 at 3:57 pm to
Posted by lsuconnman
Baton rouge
Member since Feb 2007
4490 posts
Posted on 4/28/23 at 3:57 pm to

This post was edited on 2/1/24 at 7:22 pm
Posted by TigerDeBaiter
Member since Dec 2010
10670 posts
Posted on 4/28/23 at 5:06 pm to
quote:

As a banker, the Fed can suck if. Yes all these banks did some dumb shite, but what the fed is doing is crippling the good guys doing the right thing out in the markets. Credit will completely freeze in the next 6 months as banks are simply loaned out.


Feds solution to drunken sailor spending. Don’t blame them. Vote the idiots that voted for a second, third Covid bill. And then piled on the omnibus bullshite.
Posted by thelawnwranglers
Member since Sep 2007
42036 posts
Posted on 4/28/23 at 5:43 pm to
It feels like we should be headed off a cliff
Posted by Im4datigers
Northern Virginia
Member since Oct 2003
4649 posts
Posted on 4/28/23 at 5:52 pm to
quote:

Feds solution to drunken sailor spending. Don’t blame them. Vote the idiots that voted for a second, third Covid bill. And then piled on the omnibus bullshite.


Don’t necessarily disagree. Here’s where the whole thing is headed though - FDIC is not going to treat all failures the same. They will decide to fully cover some banks and limit to $250k the others that fail (ie smaller guys). This will scare depositors over to the large money banks and will cripple community banks even more. All the same time they keep raising rates to also squeeze the throat of the community banks. The industry is going to be in a world of hurt shortly. I don’t think off a cliff but a world of hurt.
Posted by FLObserver
Jacksonville
Member since Nov 2005
15848 posts
Posted on 4/28/23 at 9:14 pm to
Looks like the bidding has already begun by PNC and Chase. LINK
This post was edited on 4/28/23 at 9:29 pm
Posted by thelawnwranglers
Member since Sep 2007
42036 posts
Posted on 4/28/23 at 9:44 pm to
quote:

Looks like the bidding has already begun by PNC and Chase. LINK


Looks like it was right to dump shares

Bidding war is over assets after fed bust them out
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 4/28/23 at 10:54 pm to
quote:

Sinking in August Treasuries


Not making a recommendation, but you may want to also look at corporate fixed rate notes. It depends on your time horizon and economic outlook, but last week I went with some investment grade 1 year FRNs at 5.3% and 3 years at 5.5%. I’m holding the rest of my free investment cash in t-bills too.
Posted by thelawnwranglers
Member since Sep 2007
42036 posts
Posted on 4/29/23 at 9:36 am to
quote:

Not making a recommendation, but you may want to also look at corporate fixed rate notes. It depends on your time horizon and economic outlook, but last week I went with some investment grade 1 year FRNs at 5.3% and 3 years at 5.5%. I’m holding the rest of my free investment cash in t-bills too.


Retirement so good suggestion

I put a lot 3 month I am not out of equities for ever but maybe more etf set and forget
Posted by thelawnwranglers
Member since Sep 2007
42036 posts
Posted on 4/30/23 at 8:53 am to
It's like Francis Scott Key seeing the flag in the rocket fire every minute today this isn't I. Recievership
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
57977 posts
Posted on 4/30/23 at 10:11 am to
quote:

It feels like we should be headed off a cliff


My worry continues to be that the US consumer has created a debt bubble environment (add credit card interest rates to that for more context) that's going to pop once we see the Unemployment rate start moving up at an accelerated rate.

Posted by I Love Bama
Alabama
Member since Nov 2007
38423 posts
Posted on 4/30/23 at 12:46 pm to
quote:

It feels like we should be headed off a cliff


You are starting to see the light
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 4/30/23 at 5:04 pm to
quote:

Retirement so good suggestion

I put a lot 3 month I am not out of equities for ever but maybe more etf set and forget


I don’t know how close to retirement you are. But for equity exposure, I’d suggest sticking with ETFs that fit your risk profile.

As for debt instruments, the types of fixed rate notes that I selected can be found on Schwab, TDA and probably most other major platforms. Just stick with investment grade and maturities that fit your situation.

Good luck (and yeah, don’t mess with hotshot stock plays that defy rational thinking - count that last one up as a learning experience and move on from it )
Posted by thelawnwranglers
Member since Sep 2007
42036 posts
Posted on 4/30/23 at 5:54 pm to
quote:

don’t know how close to retirement you are. But for equity exposure, I’d suggest sticking with ETFs that fit your risk profile.


20 years will basically build etf portfolio probably rip off the Schwab intelligence product. I would probably do the Schwab tool but for right now want to do my own fixed income
Posted by thelawnwranglers
Member since Sep 2007
42036 posts
Posted on 5/1/23 at 11:31 am to
quote:



20 years will basically build etf portfolio probably rip off the Schwab intelligence product. I would probably do the Schwab tool but for right now want to do my own fixed income


24% deployed in etf portfolio.

Will slowly roll balance between fixed income 70/30 -75/25 as bonds mature.


Posted by thelawnwranglers
Member since Sep 2007
42036 posts
Posted on 5/1/23 at 4:45 pm to
quote:

FLObserver


You saved me $6k

Thanks!
Posted by FLObserver
Jacksonville
Member since Nov 2005
15848 posts
Posted on 5/1/23 at 7:33 pm to
quote:

You saved me $6k

Thanks!


I got a few shares of Signature Bank i could sell you.
Glad you saved some money though it was a pretty easy call. Wish someone would have talked some sense into me on that friday purchase right before the collapse weekend. Lesson for both of us when something gets this low there's a reason . I'll stick to my S&P companies from here.
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