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Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819286
03/12/23 07:05 PM
03/12/23 07:05 PM
Joined: Jan 2018
Posts: 4,602
MN
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Donnersurvivor Offline
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Donnersurvivor  Offline
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D

Joined: Jan 2018
Posts: 4,602
MN

Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819295
03/12/23 07:18 PM
03/12/23 07:18 PM
Joined: Apr 2010
Posts: 3,948
Ohio
S
stinkypete Offline
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stinkypete  Offline
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Joined: Apr 2010
Posts: 3,948
Ohio
Thanks for posting Donnersurvivor

Re: Silicone Valley Bank Meltdown [Re: Donnersurvivor] #7819298
03/12/23 07:19 PM
03/12/23 07:19 PM
Joined: Dec 2010
Posts: 11,217
Armpit, ak
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Dirt Offline
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Armpit, ak
Originally Posted by Donnersurvivor


The way I read it the FED is covering depositors above $250,000?

"Shortly after Dow futures opened, the Federal Deposit Insurance Corp. and Federal Reserve issued a joint statement that SVB Financial's "[d]epositors will have access to all of their money starting Monday, March 13."


Who is John Galt?
Re: Silicone Valley Bank Meltdown [Re: stinkypete] #7819300
03/12/23 07:22 PM
03/12/23 07:22 PM
Joined: Jan 2018
Posts: 4,602
MN
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Donnersurvivor Offline
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Originally Posted by stinkypete
Thanks for posting Donnersurvivor


I have a friend who's wife helped start a company and all their money is in this bank, he has been updating me as he thought they just lost everything

Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819309
03/12/23 07:28 PM
03/12/23 07:28 PM
Joined: Jan 2014
Posts: 21,127
North East Kansas
Marty Offline
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Marty  Offline
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Posts: 21,127
North East Kansas
Nothing like rewarding bad behavior


E
'Honey Badger Militia'
Sleep, the anti woke adote.
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819311
03/12/23 07:30 PM
03/12/23 07:30 PM
Joined: Aug 2011
Posts: 45,672
james bay frontierOnt.
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Boco Offline
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james bay frontierOnt.
Why do people put money in these wonky fly by night banks in the first place.


Forget that fear of gravity-get a little savagery in your life.
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819324
03/12/23 07:52 PM
03/12/23 07:52 PM
Joined: May 2011
Posts: 16,757
Oakland, MS
yotetrapper30 Offline
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yotetrapper30  Offline
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So is that not a bailout?


~~Proud Ultra MAGA~~
Re: Silicone Valley Bank Meltdown [Re: yotetrapper30] #7819326
03/12/23 08:00 PM
03/12/23 08:00 PM
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Posts: 4,602
MN
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Donnersurvivor Offline
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MN
Originally Posted by yotetrapper30
So is that not a bailout?


It's not a bailout.

They will sell the bank and take and hold the Bonds to get the money back that they will forward to the depositors so the depositors can withdraw/transfer their funds.

Re: Silicone Valley Bank Meltdown [Re: yotetrapper30] #7819382
03/12/23 08:58 PM
03/12/23 08:58 PM
Joined: Dec 2010
Posts: 11,217
Armpit, ak
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Dirt Offline
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Armpit, ak
Originally Posted by yotetrapper30
So is that not a bailout?


It sounds like it will at least be a loan. Then they (the federal government) will try to get their money back.

Last edited by Dirt; 03/12/23 09:13 PM.

Who is John Galt?
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819386
03/12/23 09:02 PM
03/12/23 09:02 PM
Joined: Aug 2011
Posts: 45,672
james bay frontierOnt.
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Boco Offline
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james bay frontierOnt.
Just like the bank of NAFA.


Forget that fear of gravity-get a little savagery in your life.
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819393
03/12/23 09:19 PM
03/12/23 09:19 PM
Joined: Jan 2014
Posts: 21,127
North East Kansas
Marty Offline
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Marty  Offline
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of course it is a bail out. if all the bank had to do was sell its assets to cover ALL deposits then they could do that without the fdic paying the depositors...the feds want this issue off the radar asap and by any means possible. kick the can down the road. eventually the us govt and dollar will need a bailout...I bet that is all planned for already.

the taxpayers and our future generations are covering this bailout along with all the lifelong welfare recipients, illegal aliens, refugees and others that the govt taxpayers support.


E
'Honey Badger Militia'
Sleep, the anti woke adote.
Re: Silicone Valley Bank Meltdown [Re: Donnersurvivor] #7819400
03/12/23 09:31 PM
03/12/23 09:31 PM
Joined: Mar 2014
Posts: 3,655
Central Texas
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Chancey Offline OP
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Chancey  Offline OP
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Originally Posted by Donnersurvivor
I'm just glad Yellen got the visit to Ukrain and climate change speeches done so she can actually do her job now.

Remember guys, if we don't have the most competent government atleast we can hang our hat on the diversity of our government. Remember that if we go into a crisis.

A friend had a month of landscape work cancel this weekend, this may hit harder than people are expecting


Donner, last week I was just informed that one of my main mine contracts that I had for spring time was over. Ended abruptly, I don't think they have even let the mine workers know yet. Hope your are wrong, but my gut tells me you ain't.


Resident Conspiracy Theorist
Accused Moron, Nazi, Low IQ, and Putin Fan Boy
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819410
03/12/23 09:42 PM
03/12/23 09:42 PM
Joined: Jan 2014
Posts: 21,127
North East Kansas
Marty Offline
trapper
Marty  Offline
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Joined: Jan 2014
Posts: 21,127
North East Kansas
any moron can figure out that the feds cannot cover all $ in banks that is above the fdic $250,000 limit and some of those people will act accordingly. I am certainly no finance expert but it seems that we teeter on the edge of an abyss....but at least all the big shots involved in finance learned a valuable lesson which is: fill your pockets anyway possible because you will never be held accountable for that as long as you make the right campaign/other contributions.


E
'Honey Badger Militia'
Sleep, the anti woke adote.
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819411
03/12/23 09:48 PM
03/12/23 09:48 PM
Joined: May 2010
Posts: 10,551
MN
S
Steven 49er Online content
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MN
It's been starting for awhile. I know of several home developments that were canceled last fall. They told us we were going to have the busiest summer ever putting pipe last fall. Now they say it's going to be tight.

After getting some time to do some research I agree with white this should be contained to SVB. Pretty poor management practices and sound like they almost bet it all on red with little hedging if it came up black.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Silicone Valley Bank Meltdown [Re: Steven 49er] #7819417
03/12/23 09:55 PM
03/12/23 09:55 PM
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Posts: 4,602
MN
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Donnersurvivor Offline
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MN
Originally Posted by Steven 49er
It's been starting for awhile. I know of several home developments that were canceled last fall. They told us we were going to have the busiest summer ever putting pipe last fall. Now they say it's going to be tight.

After getting some time to do some research I agree with white this should be contained to SVB. Pretty poor management practices and sound like they almost bet it all on red with little hedging if it came up black.


Watch out for First Republic and First Horizon.

Re: Silicone Valley Bank Meltdown [Re: Donnersurvivor] #7819441
03/12/23 10:30 PM
03/12/23 10:30 PM
Joined: Mar 2007
Posts: 35,232
McGrath, AK
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white17 Offline

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Originally Posted by Donnersurvivor
Originally Posted by yotetrapper30
So is that not a bailout?


It's not a bailout.

They will sell the bank and take and hold the Bonds to get the money back that they will forward to the depositors so the depositors can withdraw/transfer their funds.



It is absolutely a bail out IMO. Not only that but this is a terrible precedent.

We have just crossed the Rubicon. FDIC no longer applies and the US government is now guaranteeing all deposits of any size. Too big to fail. Systemically important.

No taxpayer funds will be used........HOGWASH. They claim the banks will pay more fees up front going forward. Who do you think actually pays those fees . CUSTOMERS. You will pay higher mortgage rates or receive lower interest rates on savings. How about overdraft protection ? Credit card fees and rates ?


But here is the kicker. The Fed the Treasury and FDIC will make loans available to banks that need liquidity. Those banks must put up collateral in the form of Agency MBS or treasuries. The bonds received as collateral will:

"They'll have to pledge high-quality collateral such as Treasuries, agency debt and mortgage-backed securities. Notably, that collateral will be [b]valued at par, not mark to market[/b]...."

If you don't understand what that means ( and I think they are hoping that you don't) here is a short explanation.

PAR value of a bond is the same as FACE value. A bond with a $1000 face value is at par when its market value is at $1000.

But these banks' bonds will not be "marked to market" as all other financial instruments are on a daily basis.

In other words.......A needy bank can go to the Fed or treasury an borrow a million dollars. The bank hands over a million dollars FACE VALUE bonds as collateral.

The problem is..........on the open market those bonds .....if marked to market may only be worth $850,000.

Is the missing 150,000 a gift or what ?

Who is the giver of that gift ?

I'll give you one guess.

Tell me again how this isn't a bail out.
But......IMO the worst part is the precedent it sets.

Now banking risk is completely socialized.
The banks can take bigger, imprudent risks. If they make a bunch of money that's great. But if they lose .........that's ok too because we will all pick up the tab.

Individualize profits but socialize losses.

Shameful ! But I'm not surprised


Mean As Nails
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819453
03/12/23 10:46 PM
03/12/23 10:46 PM
Joined: Jan 2018
Posts: 4,602
MN
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Donnersurvivor Offline
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MN
Thanks White17.

Your financial knowledge exceeds my own and I appreciate the insight.

Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819461
03/12/23 10:51 PM
03/12/23 10:51 PM
Joined: Jan 2014
Posts: 21,127
North East Kansas
Marty Offline
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Marty  Offline
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Joined: Jan 2014
Posts: 21,127
North East Kansas
smile


E
'Honey Badger Militia'
Sleep, the anti woke adote.
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819490
03/13/23 12:34 AM
03/13/23 12:34 AM
Joined: Mar 2014
Posts: 3,655
Central Texas
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Chancey Offline OP
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Central Texas
Yes, Thank you all for your contributions.

Lots of wisdom on this post. Sure do appreciate it, very much.


Resident Conspiracy Theorist
Accused Moron, Nazi, Low IQ, and Putin Fan Boy
Re: Silicone Valley Bank Meltdown [Re: Chancey] #7819513
03/13/23 04:35 AM
03/13/23 04:35 AM
Joined: May 2011
Posts: 16,757
Oakland, MS
yotetrapper30 Offline
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Joined: May 2011
Posts: 16,757
Oakland, MS
Originally Posted by Chancey
Yes, Thank you all for your contributions.

Lots of wisdom on this post. Sure do appreciate it, very much.



X 2


~~Proud Ultra MAGA~~
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