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1
Posted on 3/10/23 at 2:32 pm to deltaland
quote:
My wife cashed in a CD from a local bank recently for 100k and got cash no problem
How many 8balls did you buy with that? Don't lie!!!
Posted on 3/10/23 at 2:36 pm to LSUFanHouston
quote:
f they were that heavy in bonds, such that rates could burn them like that, I'd still say that's risky.
Fair, but you can typically just hold them through their duration and not have to take a loss.
They needed the liquidity, so they sold and took a loss. Not great but the rest appears to be a pretty big overreaction.
Hard to predict the massive tech valuation decline and death of the ipo market requiring VCs to support cash flow negative startups for longer, resulting in significant pressure on their deposit base
I think they just naively thought that while this would hurt earnings and their share price, it would be a bit of a nonevent for their clients. That was most definitely wrong
This post was edited on 3/10/23 at 2:38 pm
Posted on 3/10/23 at 2:37 pm to deltaland
quote:
My wife cashed in a CD from a local bank recently for 100k and got cash no problem
Guarantee you she didn't walk in and then walk out 5-minutes later with $100k in cash.
A prior business we had we pulled out $25k on a weekly basis and they would need a few hours to pull that together.
That said, they had no issues with me depositing large amounts of cash...
Posted on 3/11/23 at 5:22 pm to member12
I haven't been day trading stocks lately, but looked at SPY and wondered what happened Fri. Huge drop. I'm sure many lost money outside of those bank members.
Posted on 3/11/23 at 5:31 pm to StanSmith
quote:
Please don't let the feds bail out these guys. Let it burn
The OP says they issued shares to raise funds to shore up the balance sheet.
The company I just left banks with them. CEO is fundraising right now, not a good time for this.
This post was edited on 3/11/23 at 5:42 pm
Posted on 3/12/23 at 9:57 pm to Bruco
Shutting SVB down was likely a combination of a number of factors, including inadequate interest and liquidity risk management. The rules they lobbied against could have saved their bacon had it been implemented at a lower total asset size.
Consulting firms are going to rack up and the Fed will adjust the regulations to address the short comings of the current rule
Consulting firms are going to rack up and the Fed will adjust the regulations to address the short comings of the current rule
Posted on 3/12/23 at 10:13 pm to dgnx6
quote:
so a bunch of libs are going tits up?
No your bank will be charged extra fees to cover all deposits at SVB. Even those above and beyond FDIC limits.
You are bailing them out. And they hate you too.
Posted on 3/12/23 at 10:15 pm to deltaland
quote:
All those liberal tech millionaires should be happy about this. They’re about to lose their millions and be reimbursed 250k
Nope. No haircut for them. They are made whole by you.
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