That is one long ass ride but with the cash falling out of his pocket I can take him to a guy to rent an exotic.
SVB is Now In the Hands of the FDIC
- Thread starter 2003RedfireVert
- Start date
To the point about bank run. This is happening even if you do not see depositors line up in the street.
I have had call after call talking with groups that we finance about cash balances. When we fund, it goes into an account that our borrowers then use to disburse funds to their borrowers.
In normal times I did not care about this. Now I am having conversation after conversation requesting balance amounts, where it resides, when they will sweep it, what are triggers to return cash to us, etc etc
Seen Goodfellas? Remember the "**** You, Pay Me" line? This is the tone of my discussions.
"I think your balance is too high. **** you, pay me."
"I think your balance is outstanding for too long. **** you, pay me."
"I don't like the bank that you use. **** you, pay me."
etc.
This has the effect of sucking capital out of banks and into treasuries and money markets.
Everyone in my position is doing this as we speak.
I have had call after call talking with groups that we finance about cash balances. When we fund, it goes into an account that our borrowers then use to disburse funds to their borrowers.
In normal times I did not care about this. Now I am having conversation after conversation requesting balance amounts, where it resides, when they will sweep it, what are triggers to return cash to us, etc etc
Seen Goodfellas? Remember the "**** You, Pay Me" line? This is the tone of my discussions.
"I think your balance is too high. **** you, pay me."
"I think your balance is outstanding for too long. **** you, pay me."
"I don't like the bank that you use. **** you, pay me."
etc.
This has the effect of sucking capital out of banks and into treasuries and money markets.
Everyone in my position is doing this as we speak.
LOL I would trade it all for your 4 wheelers and trailer set up.
All makes sense now.
Even though I read and you said they were liquidating the 30yr bonds at a loss, I didn’t quite grasp how they were doing that.
Now I know why all the big talking heads have been saying FED will stop raising and start cutting for the last 6-9 months. They were upside down and praying for a miracle.
Ooopsie
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This is a deal that I saw over the weekend. Obvs didnt get done because of the backstop.
$73,450,000.00 given to BLM and related causes. **** ‘em!
dc.claremont.org
While their insolvency isn’t solely related to their wokeness, there is definitely a correlation with left leaning tech and the quickness and willingness of the government to come in and bail them out.
Also:
“Then there’s this: In its proxy statement, SVB notes that besides 91% of their board being independent and 45% women, they also have “1 Black,” “1 LGBTQ+” and “2 Veterans.” I’m not saying 12 white men would have avoided this mess, but the company may have been distracted by diversity demands.”
unusualwhales.com
BLM Funding Database - The American Way of Life
You can view our article introducing the database here: Americans Deserve To Know Who Funded BLM Riots | Opinion (newsweek.com) .entry-header { display: none; }
dc.claremont.org
While their insolvency isn’t solely related to their wokeness, there is definitely a correlation with left leaning tech and the quickness and willingness of the government to come in and bail them out.
Also:
“Then there’s this: In its proxy statement, SVB notes that besides 91% of their board being independent and 45% women, they also have “1 Black,” “1 LGBTQ+” and “2 Veterans.” I’m not saying 12 white men would have avoided this mess, but the company may have been distracted by diversity demands.”
WSJ oped discusses why Silicon Valley Bank failed
A select blurb from the article states, per WSJ: "Here’s an important lesson for companies in trouble: On Thursday, Mr. Becker told everyone to “stay calm.” That never works, ever since Kevin Bacon’s character in “Animal House” told everyone, “Remain calm. All is well,” as chaos ensued. Was...
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I guess every one is too big to fail? Capitalism is built on failure, so that's over now.
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Did you ask if you could be his +1?
And apparently Comrade Newsome failed to disclose his ties to SVB while lobbying for them being bailed out.
What a good ruler.
Sent from my iPhone using svtperformance.com
What a good ruler.
Sent from my iPhone using svtperformance.com
This gal has a good piece on what happened. Some crazy charts.
seekingalpha.com
A Look At Bank Solvency
Unlike 2008 financial crisis, 2023 problems are mainly a duration/liquidity problem. Find out how to navigate some of the potential landmines among banks going forward.
The bankers are learning about the penalty for early withdrawal.
The "all clear" lasted a day. Credit Suisse is the next vic
www.wsj.com
Credit Suisse Stock Price Drops as Much as 30%
Credit Suisse shares (CSGN) in Switzerland fell as much as 30% and hit a fresh all-time low, reflecting increasing concerns about the bank's struggles to stabilize its operations. The fall dragged down other [major European bank stocks](https:/
Credit Suisse has been a shit show for a while now. Just saw on Bloomberg that European bank stocks have been halted.The "all clear" lasted a day. Credit Suisse is the next vic
Credit Suisse Stock Price Drops as Much as 30%
Credit Suisse shares (CSGN) in Switzerland fell as much as 30% and hit a fresh all-time low, reflecting increasing concerns about the bank's struggles to stabilize its operations. The fall dragged down other [major European bank stocks](https:/
follow bond yields. these are epic moves. the vol at the front end of the curve in the last week is historic.
and yes, I know all about CS. we had an ISDA with them but have not traded with them for years. they are a basket case but they also have the same balance sheet issues that SVB and every other bank has.
It is getting to be kind of strange to read commentary on Twitter that it is isolated and idiosyncratic and just happens to be a coincidence that
UK pension funds are blowing up
Signature bank blowing up
SVB bank blowing up
Republic, Pacwest, Vertex about to blow up
CS about to blow up
Insurance companies ?????
They all hold the same shit in their balance sheet and the macro environment affects each in exactly the same way.
But it's not systemic
It is getting to be kind of strange to read commentary on Twitter that it is isolated and idiosyncratic and just happens to be a coincidence that
UK pension funds are blowing up
Signature bank blowing up
SVB bank blowing up
Republic, Pacwest, Vertex about to blow up
CS about to blow up
Insurance companies ?????
They all hold the same shit in their balance sheet and the macro environment affects each in exactly the same way.
But it's not systemic
I forgot all about the float that insurance companies carry and invest before paying out claims. Imagine now if there was some sort of large natural disaster....
I saw B of A took in 15 billion dollars of new deposits the past few days. Not really much of a lifeline if they need it though.
The "all clear" lasted a day. Credit Suisse is the next vic
Credit Suisse Stock Price Drops as Much as 30%
Credit Suisse shares (CSGN) in Switzerland fell as much as 30% and hit a fresh all-time low, reflecting increasing concerns about the bank's struggles to stabilize its operations. The fall dragged down other [major European bank stocks](https:/
Swiss central bank ready to step in to help stop Credit Suisse freefall
4.25pm ET: Swiss central bank ready to help Swiss regulators have said they are ready to help Credit Suisse "if necessary", as the collapse of Silicon...
www.proactiveinvestors.co.uk
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