Does anyone care about the economy?

[tragabigzanda]

FUCK ICE

[elliseamos]

So who plays the role of Potter and buys this shitty bank?

BoA?
JPM Chase?
Wells Fargo?
Capital One?

That's how this ends, no? Svb is gone, and their accounts get paid by new owner.

[tragabigzanda]

FUCK ICE

[elliseamos]

Either way means nbd.

[Bi_3]

Either way means nbd.

Moral hazards abound.

[elliseamos]

I'm not saying nothing to see here, but I do feel as though this bank failing and being divided up and other banks carrying on is a cautionary tale for banks, but not me.

Explain how this is a big problem (assuming this bank is bought up and the payrolls of its clients are made whole by Wednesday)?

[elliseamos]

And talk to me like I'm 9 years old because I am very ignorant of financial jargon.

[BurtReynolds]

Congrats!

[tragabigzanda]

FUCK ICE

[elliseamos]

Thanks, trag.

Ponzi scheme.

Got it.

[simple schoolboy]

If SVB would give out sizeable loans to anyone that got funded, how did they survive this long? Setting piles of Softbank funds on fire was the local sport for more than a decade. Did they have a "Softbank funding doesn't count" policy?

[tragabigzanda]

FUCK ICE

[simple schoolboy]

Can we retroactively change FDIC regulations so that any companies whose main product is SAAS get none of their money back? We could change society for the better.

[Bi_3]

Can we retroactively change FDIC regulations so that any companies whose main product is SAAS get none of their money back? We could change society for the better.

Quick EscAPI
RESTing By Myself

[BurtReynolds]

The VC techbros are freaking out.

[96583UP]

Congrats!

LOLOLOLOL

[tragabigzanda]

FUCK ICE

[Bi_3]

I have yet to see a rational explanation why any account over the FDIC limit should be covered by federal taxpayers.

[BurtReynolds]

"systemic risk" is the usual reason given

[96583UP]

I have yet to see a rational explanation why any account over the FDIC limit should be covered by federal taxpayers.

simply to stem fear of broader runs on regional banks

we can thank twitter for this

some bank runs are rational but the media need to stfu and stop enabling people to be afraid they will lose their deposits everywhere

SVB was an isolated case with depositors (early stage tech) burning through cash

but if every dope on the street becomes afraid their money is not safe and runs to withdraw then we create the adverse event which should otherwise not come to fruition