- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
0
Posted on 3/14/23 at 11:59 am to MrLSU
The underlying types of businesses those banks catered to had nothing to do with their collapse. Bad duration management without rates hedging brought the bank to its knees. Big difference. This can happen at a local bank with normal small business clients.
Posted on 3/14/23 at 12:55 pm to Cosmo
quote:
If you went over the 250000 fdic limit you frick yourself
You clowns show such fricking ignorance it’s sad. No business that processes payroll in the millions per month is going to have 30 accounts with 250k per account
FDIC limit is per depositor, per account per institution. Not per account
This post was edited on 3/14/23 at 1:01 pm
Posted on 3/14/23 at 12:56 pm to HottyToddy7
quote:
This is real life not some made up land. Life isn't fair. Make better choices with your money. Did you never learn how banks work?
Dipshits like you would be crying fowl if Regions or hancock whitney went under
Posted on 3/14/23 at 1:14 pm to DCtiger1
quote:
You clowns show such fricking ignorance it’s sad. No business that processes payroll in the millions per month is going to have 30 accounts with 250k per account
These must be a bunch of accounts who want to go work for Exxon to help them manage the 100,000+ accounts they would need. Let's go a little deeper to illustrate the giant pain in the arse this would create. Not just for giant corporations, but many small local businesses.
The median US worker pay for 2021 was about $70k. Let's bump that to $84k once you throw in 20% for benefits and other payroll type processing needs. If you pay twice a month, that's $3500 per worker. Your $250k gets you to 71 employees if all earn the median and that's just for payroll. You need a new account to do 72-143, and on and on. How many more accounts and accountants would a medium sized company need to manage that? How does that impact their SGA? Who ends up paying for that?
This post was edited on 3/14/23 at 1:34 pm
Posted on 3/14/23 at 1:42 pm to billjamin
These posters are fricking retarded when it comes to banking and business. I’m so damn tired of the frick the rich and corporations bullshite. These companies trusted a bank just like we all do. We shouldn’t say frick them because the bank failed. I can guarantee none of these fricks know how their banks money is invested.
Posted on 3/14/23 at 1:54 pm to DCtiger1
quote:
These posters are fricking retarded when it comes to banking and business. I’m so damn tired of the frick the rich and corporations bullshite. These companies trusted a bank just like we all do. We shouldn’t say frick them because the bank failed. I can guarantee none of these fricks know how their banks money is invested.
Exactly. And they just assume this is a bunch of VC/PE/Tech bro personal money. They don't understand that their pension, retirement, insurance money is in this.
This post was edited on 3/14/23 at 1:55 pm
Posted on 3/14/23 at 2:18 pm to DCtiger1
quote:
No business that processes payroll in the millions per month is going to have 30 accounts with 250k per account
A business with payrolls that big should have accountants and lawyers that know better than to do business with banks that have risky liabilities like SVB.
Posted on 3/14/23 at 2:22 pm to MrLSU
Yes sir. You nailed it on the head
Posted on 3/14/23 at 2:28 pm to Cosmo
quote:
A business with payrolls that big should have accountants and lawyers that know better than to do business with banks that have risky liabilities like SVB.
I never knew how many of y’all love stacking SGA on medium sized companies. It’s truly shocking.
Posted on 3/14/23 at 2:59 pm to DCtiger1
For once it pays to be low tech
Posted on 3/14/23 at 3:00 pm to Tmcgin
quote:
For once it pays to be low tech
I know you probably didn't mean it this way, but SVBs technology made the cash run possible. They were incredibly easy to transact with and it was a big reason they were what they were.
Posted on 3/14/23 at 3:03 pm to Cosmo
Risky liabilities? They invested in treasury bonds for christs sake
Posted on 3/14/23 at 3:08 pm to billjamin
I believe he was referring to SVB’s risky, new tech investments (allegedly) not their ease of banking
This post was edited on 3/14/23 at 3:09 pm
Posted on 3/14/23 at 3:09 pm to AgCoug
quote:
SVB’s risky, new tech investments- not their ease of banking.
Not really what caused the issue
Posted on 3/14/23 at 3:10 pm to DCtiger1
I don’t know. I don’t have a dog in this fight. I was just clarifying the post.
Posted on 3/14/23 at 3:22 pm to AgCoug
quote:
I believe he was referring to SVB’s risky, new tech investments (allegedly) not their ease of banking
I know. It's why i started the post the way I did. But it's a relevant point considering how all this went down.
Posted on 3/14/23 at 4:03 pm to DCtiger1
quote:Scruffy isn’t a bank expert in any way.
FDIC limit is per depositor, per account per institution. Not per account
Is there a limit on FDIC protections of businesses, like you see with individuals?
Posted on 3/14/23 at 4:41 pm to Scruffy
No, there is no discrimination on who the depositor is. It’s 250k period
Posted on 3/14/23 at 5:30 pm to DCtiger1
quote:
You can’t frick over the depositors because of the banks investment choices
That's for bankruptcy courts to decide.
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News