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Started By
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re: Wapo reporting fed is strongly leaning towards covering all uninsured deposits at SVB
Posted on 3/12/23 at 4:16 pm to Indefatigable
Posted on 3/12/23 at 4:16 pm to Indefatigable
quote:
Lake Charles is considered an “urban stronghold”?
They have a casino and golf course. That's big time.
I actually thought he'd moved. My bad. But it does sound like they need to pick up their game down there.
0
Posted on 3/12/23 at 4:23 pm to 50_Tiger
quote:Why do people think all SVB depositors are top 1%?
Actual bailouts to the top 1%.
Posted on 3/12/23 at 4:28 pm to HailHailtoMichigan!
quote:When did bank depositors sign a promissory note to be personally responsible for the bank’s actions?
Please make a coherent argument why it is proper for the federal government to bend the regulatory language to insure deposits above 250k, but it is not proper for the federal government to bend the language to bail out students in debt.
Now a question for you… what happens Monday morning if depositors are told to pound sand?
quote:Thats supposed to be a negative?
I am telling you right now, giving these uninsured depositors relief will poll in the teens and will likely be the end of biden's reelection chances.
Posted on 3/12/23 at 4:32 pm to Taxing Authority
It's a bad look when the biggest reason a bank run happens is government backed securities.
Posted on 3/12/23 at 4:32 pm to Indefatigable
quote:I don’t think anyone says the owners shouldn’t get wiped out. But if you want to make depositors liable for the banks investment choices—you *will* see a huge run on the banks. Why?
Why can’t a bad business fail, and everyone who invested or deposited their funds with that bad business suffer the consequences?
Because you’re deposits are at more risk than treasuries—which are considered to be lowest form of risk possible. AND pay a return to boot.
Posted on 3/12/23 at 4:33 pm to Jcorye1
quote:
It's a bad look when the biggest reason a bank run happens is government backed securities.
Piss poor risk management is why SVB failed.....
Posted on 3/12/23 at 4:34 pm to Jcorye1
quote:Yep. Basically, they followed the Fed’s guidelines on future rate increases. Regulators never raised this as an issue, either.
It's a bad look when the biggest reason a bank run happens is government backed securities.
And I’d reckon if this is the tumult we’re seeing from 4.75% rates it’s going to get very ugly as they go higher.
Posted on 3/12/23 at 5:02 pm to HailHailtoMichigan!
China wants their money back.
Posted on 3/12/23 at 5:30 pm to HailHailtoMichigan!
The elite don't give a shite about fairness, rules, equality, "level playing field", or any of that bullshite - for themselves. They will use any power they have to their advantage, morals and ethics be damned.
Ideally we would elect politicians who are aware of this and can build institutions to counter their power, but the reality is that politicians on both sides are in on the scam.
The surprising thing to me is that your average American still doesn't get it.
Ideally we would elect politicians who are aware of this and can build institutions to counter their power, but the reality is that politicians on both sides are in on the scam.
The surprising thing to me is that your average American still doesn't get it.
Posted on 3/12/23 at 5:34 pm to Buryl
Posted on 3/12/23 at 5:35 pm to TSLG
I mean if the fed just covers it
Posted on 3/12/23 at 5:39 pm to dafif
quote:
What gives them the legal authority???
Why you think they are holding on to the “COVID emergency” declaration so tight?
Posted on 3/12/23 at 5:56 pm to Taxing Authority
quote:
Why do people think all SVB depositors are top 1%?
because over 95% of their deposits are uninsured?
know how that is determined?
Posted on 3/12/23 at 5:57 pm to bamarep
There was never any doubt in my mind that FedGov would bail them out by just printing more $$$$$$$.
Posted on 3/12/23 at 6:01 pm to 14&Counting
quote:It's not quite that simple, tho. And it's not just SVB. Any bank owning assets currently paying less than the fed rate are at risk. And that is a bunch.
Piss poor risk management is why SVB failed.....
Think of it like this... bank takes $1,000,000 in deposit in 2019. They have to lend out (for example) $900,000 of it at for 30 years at 3%.
Now... everyone wants 4.75% for their deposits, or they walk. Now what? The bank simply cannot pay that. They're only getting 3%. What happens to the bank?
It's a simplified example, but, it illustrates the problem banks are up against.
There are 3 options: Bail out (and insure existing) depositors. Bail out A LOT of banks that collapse from paying out more than than they are taking in. OR watch a massive run on the banks.
Option 1 is the cheapest. Unfortunately, depositors hold all the leverage. As a collective group, they have government bent over the barrel.
Posted on 3/12/23 at 6:03 pm to rhar61
quote:That doesn't equal rich. Tons of businesses float more than than in their payroll accounts.
because over 95% of their deposits are uninsured?
Posted on 3/12/23 at 6:06 pm to HailHailtoMichigan!
One word question ... "why?"
It is a simple matter for a company to keep its deposits at a given financial institution below the amount of FDIC insurance. If your balance approaches the limit, just transfer funds to an account at another institution.
Those lazy-assed depositors did not bother to take that simple step. Why are the bastards entitled to be compensated with tax dollars for their own stupidity and laziness?
It is a simple matter for a company to keep its deposits at a given financial institution below the amount of FDIC insurance. If your balance approaches the limit, just transfer funds to an account at another institution.
Those lazy-assed depositors did not bother to take that simple step. Why are the bastards entitled to be compensated with tax dollars for their own stupidity and laziness?
Posted on 3/12/23 at 6:09 pm to Taxing Authority
quote:It is sad that you must explain such simple concepts to adult humans.
It's a simplified example, but, it illustrates the problem banks are up against.
But they damned-sure have opinions on the matter, no matter how little they understand it!
Posted on 3/12/23 at 6:13 pm to HailHailtoMichigan!
Why wouldn’t they? Now they’ll own deeds & mortgages to depositors with loans. They are building leverage.
This post was edited on 3/12/23 at 6:14 pm
Posted on 3/12/23 at 6:15 pm to dafif
Moral authority
Is what they will claim
Is what they will claim
This post was edited on 3/12/23 at 6:15 pm
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