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.
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 12:24 pm
by tragabigzanda
FUCK ICE
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 12:36 pm
by elliseamos
Either way means nbd.
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 12:45 pm
by Bi_3
elliseamos wrote:Either way means nbd.
Moral hazards abound.
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 1:11 pm
by 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)?
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 1:12 pm
by elliseamos
And talk to me like I'm 9 years old because I am very ignorant of financial jargon.
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 2:52 pm
by BurtReynolds
Congrats!
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 2:55 pm
by tragabigzanda
FUCK ICE
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 4:11 pm
by elliseamos
Thanks, trag.
Ponzi scheme.
Got it.
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 4:54 pm
by 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?
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 4:59 pm
by tragabigzanda
FUCK ICE
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 5:09 pm
by 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.
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 6:18 pm
by Bi_3
simple schoolboy wrote: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
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 7:00 pm
by BurtReynolds
The VC techbros are freaking out.
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 11:07 pm
by 96583UP
BurtReynolds wrote:
Congrats!
LOLOLOLOL
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 11:32 pm
by tragabigzanda
FUCK ICE
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 11:37 pm
by Bi_3
I have yet to see a rational explanation why any account over the FDIC limit should be covered by federal taxpayers.
Re: Does anyone care about the economy?
Posted: Sat March 11, 2023 11:39 pm
by BurtReynolds
"systemic risk" is the usual reason given
Re: Does anyone care about the economy?
Posted: Sun March 12, 2023 3:37 pm
by 96583UP
Bi_3 wrote: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