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re: What are they expecting. Schiff calls on Treasury Dept to prepare for run on banks

Posted on 3/11/23 at 11:22 pm to
Posted by davyjones
NELA
Member since Feb 2019
33214 posts
Posted on 3/11/23 at 11:22 pm to
See, this is where it pays off to be poor and not have much money in the bank.
Posted by Robin Masters
Birmingham
Member since Jul 2010
33917 posts
Posted on 3/11/23 at 11:35 pm to
quote:

See, this is where it pays off to be poor and not have much money in the bank.


Yeah, I knew this was coming so I just spent all my money before someone else could lose it.
Posted by Alltheway Tigers!
Baton Rouge
Member since Jan 2004
7699 posts
Posted on 3/11/23 at 11:40 pm to
quote:

Examiners should be on watch for bad gap and ALCO management.


Way too late for that. Board of Directors should be calling management and having some discussions on ALCO.
Posted by Alltheway Tigers!
Baton Rouge
Member since Jan 2004
7699 posts
Posted on 3/11/23 at 11:44 pm to
quote:

Do you have anything to cite for the ALCO mismatches in local banks? SVB was a unique case.


Easy to find. Look at Call Reports on securities schedule or the UBPR on AOCI. If you have access to S&P Global or similar service, getting a list of banks with funky investment portfolios and the impact to tangible capital is easy.

Even the old OCC canary reports can give the amount of unrealized losses in the investment portfolio.
Posted by TerryDawg03
The Deep South
Member since Dec 2012
17225 posts
Posted on 3/11/23 at 11:48 pm to
quote:

Easy to find. Look at Call Reports on securities schedule or the UBPR on AOCI. If you have access to S&P Global or similar service, getting a list of banks with funky investment portfolios and the impact to tangible capital is easy.


That’s what I’m asking. Has anyone reported on local banks ALCO being out of whack? Don’t really want to go through that many call reports.
Posted by 1BIGTigerFan
100,000 posts
Member since Jan 2007
53171 posts
Posted on 3/11/23 at 11:55 pm to
quote:

run on the banks

Already took out the entire $20 I have left.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
283022 posts
Posted on 3/12/23 at 6:30 am to
quote:


Big investors, CEOs and bank executives are one thing — they can take a loss — but regular workers across California shouldn’t suffer.
Posted by DMAN1968
Member since Apr 2019
11853 posts
Posted on 3/12/23 at 6:30 am to
quote:

Big investors, CEOs and bank executives are...

...the ones causing the runs. They get to use their insider information and pull their big money out first.
Posted by Cuz413
Member since Nov 2007
9239 posts
Posted on 3/12/23 at 6:37 am to
quote:

Adam Schiff


No thanks.

I'll be keeping an ear to the ground waiting for economic savant AOC to impart some knowledge and guidance on this subject
Posted by SlowFlowPro
Simple Solutions to Complex Probs
Member since Jan 2004
452343 posts
Posted on 3/12/23 at 7:21 am to
quote:

How does this work in modern times? You can’t go to a bank and cash out. I doubt most banks have the actual cash on hand to cover a dozen people.


Wires or transferring money electronically.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
283022 posts
Posted on 3/12/23 at 7:24 am to
quote:


How does this work in modern times? You can’t go to a bank and cash out. I doubt most banks have the actual cash on hand to cover a dozen people.


George Bailey, the famous bank run consultant can figure it out..
Posted by unclejhim
Folsom, La.
Member since Nov 2011
3703 posts
Posted on 3/12/23 at 7:28 am to
When has Shiff been correct on anything????
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
283022 posts
Posted on 3/12/23 at 7:30 am to
quote:

When has Shiff been correct on anything????


He's nothing more than a tiny, lispy agitator.
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 3/12/23 at 7:35 am to
Pulling out another 5k on Monday. I’m doing my part.
This post was edited on 3/12/23 at 7:37 am
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
131531 posts
Posted on 3/12/23 at 7:38 am to
quote:

regular workers across California shouldn’t suffer
Accounts of "regular workers" do not exceed FDIC limits.
Posted by texas tortilla
houston
Member since Dec 2015
3364 posts
Posted on 3/12/23 at 7:40 am to
yep, but i think he is running for senator so he wants to save california from the bankers.
Posted by Placekicker
Florida
Member since Jan 2016
10550 posts
Posted on 3/12/23 at 7:50 am to
quote:

They are inciting fear in the American people to collapse the banking system and bring in the solution: Digital currency.


This is the correct answer.

Creating a fear narrative in order to influence the people to go where they want them to go; a place where they have even more control. And, just like COVID, they’ll go willingly.
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