Silicon Valley Bank has FAILED, becoming the largest US bank failure since 2008

[Tellafriend]

https://www.dailymail.co.uk/news/art...t-banking.html


REVEALED: Only ONE member of failed SVB's board had a career in investment banking - and the rest were Obama, Clinton mega-donors who 'grieved' when Trump won including one who went to Shinto shrine 'to pray'
Tom King, 63, was the only member of the Silicon Valley Bank board who had experience in investment banking
The others were major Obama and Clinton mega-donors, including one who cried when Trump won in 2016
The board is now being investigated for its failure to act ahead of the bank's collapse, as some argue it was too focused on being woke

By MELISSA KOENIG FOR DAILYMAIL.COM
PUBLISHED: 13:02 EDT, 14 March 2023 | UPDATED: 14:32 EDT, 14 March 2023


says it all. this is the oversight on loading up on 10 year notes at historic low rates.


what's not being said is that it is not the ordinary joes who were "bailed out." it was the Silicon Valley tops who had made a fortune and put a lot of it into the bank. they are big time Dem contributors and that is why this bank got its bailout, b/c if you think a regional out of Oklahoma would have, you are wrong.

but there's little if any difference b/n this and the last huge Covid bailout Pelosi (from SF) did which included yes, a bailout of the SF School district, which had somehow gotten into huge debt (how's that even possible?). so the Nation, you and I, subsidized the school system employees' pensions from SF whereas the rest of the country has to make due if they even have underfunded pensions at all, lol. All under the guise of Covid. the last inflation busting 1.7trillion bill bailed out some pension in either Chicago or Detroit, imagine that. it's all so perverse.

we are a terminally ill nation in its death throes while all the little piggies try to get their last suckle of their dying sow.

[Daly]

https://www.dailymail.co.uk/news/art...t-banking.html


REVEALED: Only ONE member of failed SVB's board had a career in investment banking - and the rest were Obama, Clinton mega-donors who 'grieved' when Trump won including one who went to Shinto shrine 'to pray'
Tom King, 63, was the only member of the Silicon Valley Bank board who had experience in investment banking
The others were major Obama and Clinton mega-donors, including one who cried when Trump won in 2016
The board is now being investigated for its failure to act ahead of the bank's collapse, as some argue it was too focused on being woke

By MELISSA KOENIG FOR DAILYMAIL.COM
PUBLISHED: 13:02 EDT, 14 March 2023 | UPDATED: 14:32 EDT, 14 March 2023


says it all. this is the oversight on loading up on 10 year notes at historic low rates.


what's not being said is that it is not the ordinary joes who were "bailed out." it was the Silicon Valley tops who had made a fortune and put a lot of it into the bank. they are big time Dem contributors and that is why this bank got its bailout, b/c if you think a regional out of Oklahoma would have, you are wrong.

but there's little if any difference b/n this and the last huge Covid bailout Pelosi (from SF) did which included yes, a bailout of the SF School district, which had somehow gotten into huge debt (how's that even possible?). so the Nation, you and I, subsidized the school system employees' pensions from SF whereas the rest of the country has to make due if they even have underfunded pensions at all, lol. All under the guise of Covid. the last inflation busting 1.7trillion bill bailed out some pension in either Chicago or Detroit, imagine that. it's all so perverse.

we are a terminally ill nation in its death throes while all the little piggies try to get their last suckle of their dying sow.

This is an opinion piece masquerading as a fact. Can i say as a absolutle fact that a bank specializing in Oil and Gas out if Texas would have got the same treatment? No. I do think they would have though.

[devidee]

According to a report by the Times of Israel, the country’s two largest banks were able to transfer $1 billion out of Silicon Valley Bank to accounts in Israel before it was seized by the feds.


(((prolly just a jooincidence)))

[OK2]

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[Cerveza Fria]

According to a report by the Times of Israel, the country’s two largest banks were able to transfer $1 billion out of Silicon Valley Bank to accounts in Israel before it was seized by the feds.


(((prolly just a jooincidence)))

Got a link for said article? I went to the Times site, did a search and couldn't find it.

[OK2]

:

[MumblesBadly]

A non bank with access to the window.

Well these are allegedly highly regulated entities here that went titis up. Can you imagine a Enron situation with this sort of access? Don't think we get there but its fair to start asking whats the difference between bank/nonbank.

Oh no no no. The Fed Window is not at all what I’m talking about.

I’m talking about Central banks providing retail bank accounts to the general public - perhaps you can imagine eliminating the private banking entirely to more clearly picture what I’m alluding to

I think that clarifies my thoughts. We are discussing the endgame here.

Allegedly, fiat and CBDC will exist concurrently (at least for a while) filthy fiat is unwieldy and requires private banking necessarily. But you feel me.

This series of failures and the unusual response is a first step toward National conversation and a CBDC catalyst

Because then the Fed Reserve banks would have that would

1) take away a major source of potential business from the FOR-PROFIT banks, and
2) require the Fed banks to figure out where to invest the moneys from all those additional deposits, which would again result in more government agency-funded competition for for-profit banks. And that is that last thing both conservatives and corporate Democrats would want. Hell! Are you a socialist or something??!

[Tellafriend]

why have we continued with the $250k limit farse? sincere query.

I cant answer them all….. Im sure on some level nobody benefits from leaving money in a savings account. Not you, not the bank, not society……

The american way is if you gamble and lose then thats the way the cookie crumbles. Its the pursuit of happiness sort of thing. But if you want to sit it out with near zero risk at sub inflation rate return then these deposits need to be guaranteed by the US Banking system. Thats across the board if you a billionaire or a bum.

Embedded Tweet

https://twitter.com/unusual_whales/status/1635704249366753280

[devidee]

According to a report by the Times of Israel, the country’s two largest banks were able to transfer $1 billion out of Silicon Valley Bank to accounts in Israel before it was seized by the feds.


(((prolly just a jooincidence)))

Got a link for said article? I went to the Times site, did a search and couldn't find it.

https://www.timesofisrael.com/tel-av...aeli-startups/

[Sanlmar]

Oh no no no. The Fed Window is not at all what I’m talking about.

I’m talking about Central banks providing retail bank accounts to the general public - perhaps you can imagine eliminating the private banking entirely to more clearly picture what I’m alluding to

I think that clarifies my thoughts. We are discussing the endgame here.

Allegedly, fiat and CBDC will exist concurrently (at least for a while) filthy fiat is unwieldy and requires private banking necessarily. But you feel me.

This series of failures and the unusual response is a first step toward National conversation and a CBDC catalyst

Because then the Fed Reserve banks would have that would

1) take away a major source of potential business from the FOR-PROFIT banks, and
2) require the Fed banks to figure out where to invest the moneys from all those additional deposits, which would again result in more government agency-funded competition for for-profit banks. And that is that last thing both conservatives and corporate Democrats would want. Hell! Are you a socialist or something??!

Look here comrade, I’m a realist I’m the guy who would prefer to continue living my life in desperate anonymity. I’ll go further, I believe CBDC is the single biggest threat to privacy and freedom in our country.

I’m willing to wager the first time you read about CBDC was in a post of mine a year or two ago.

I’m just telling what is likely in the very near future. I follow who Binden and company have been staffing. I wrote about the Russian economist Binden nominated for Comptroller of Currency. I read all their white papers in my autistic fashion. It is very clear what appeals to the Fed and the current administration.

My best bud Daly drives a Ford LTD Country Squire with fake wood panel siding. He has a deep belief that the status quo will last forever. Barbecues, bouffant hairstyles and unfiltered Chesterfields. I see the appeal. I accept the world is changing fast instead. I’m used to not getting my way too.

The Fed has directly responded to the obvious competition with banks. Fed officials are emphatic that a federally issued digital dollar will not cut banks out of the banking system. The Fed even has offered suggestions as to how retail banks might compete with retail CBDC. It’s the elephant in the room.

“The aggregate commercial banking sector balance sheet would likely decrease when retail CBDC is introduced”

Retail banking will be different. Much different. You won’t have three regional bank branches at every 4 way intersection.

Banks can look beyond deposits for capital - Fed funds or commercial paper, repurchase agreements and the Federal Home Loan Banks. There is always a way to raise a bankroll to gamble with.

Look, China has industry and a form of capitalism too. They enjoy the NBA and barbecues. I just don’t want to live there.

[Sanlmar]

This is so not over.

We haven’t seen short term rates suddenly fall like this since 9/11.

Now you have Credit Suisse which made the market rock and roll down and up today. Watching stories about the insurance market activity as banks hedge their collateral risk on derivatives b/c almost certain Credit Suisse failure. I admit that has been talked about for 20 years but… Is Credit Suisse too bag to SAVE? See if anyone has an article out there. Idk

When you have the banking system on the fritz like this “they” turn on the cash spigots. This just means inflation keeps cooking. Long term inflation was always my forecast.

Now a lot of people bet that rates would fall by year end. Good for them. Nice hit. That wasn’t me.

Rates may fall but banks are gonna get real tight on credit standards for borrowers for things like cars. That’s interesting.

Generational trading opportunity but we’ve been saying that for 4 years.

Yeah, things are not over.

Inflation for a decade. People think I’m kidding. What happens is you end up with civil unrest. This was seen in the 70’s. There was far far greater civility back then so buckle up. Idk if this messes with my political forecast. Gotta think that thru.

I need to look at Sonatine’s and CNBC’s girl, Cathy Wood, and her Tesla and Coinbase etc. what a shit show. Just crazy crazy times. Is she involved in this banking stuff? I have a hunch. She is a mush.

Another ramble. If Fed “buys” the regional bank’s treasuries at par (even though they are under water) is that some perverted affect that treasuries are getting subsidized?

[Daly]

Cant be 31T debt with ~3.5T in annual tax receipts and sit here and tell everyone that they don't want inflation. Inflation was always the plan. It was the way out.

Me and my family truckster, my house that i own, my gold and silver and my BTC will try and find a way out of this.

I never bought into the millennial way of not owning anything and renting house/car/etc.

[TheXFactor]

Do we really need over 10,000 different banks, credit unions and financial institutions?

Let's go from over 10,000 to 10.

Invest in Bitcoin.

[Sanlmar]

Why is San going on about CBDC in the bank thread?

Cause no economic disaster shall be squandered

Announced today



Shoutout to dwai a couple pages ago. Not wrong

Drops mic.

[Sanlmar]

I never bought into the millennial way of not owning anything and renting house/car/etc.

You have me reeling. Not gonna lie.

You self identify as a millenial?

We have so little left at PFA and now this. I’m a little depressed tbh.

It explains your sense of history though.

I’m gonna need some time.

[OK2]

Why is San going on about CBDC in the bank thread?

Cause no economic disaster shall be squandered

Announced today



Shoutout to dwai a couple pages ago. Not wrong

Drops mic.

I wish they would just employ the (heeb™) whip it out and see method with CBDC's instead of all the bullshit coming down the line

They didn't fuck around, flopped it out with a shit eating grin to go with it.

The question is, how many are going to drink what it shoots out? My guess is nearly everyone.

"The SVB collapse must be Joe Biden’s fault and the woke mob." -Boostedfaggot

MumblesBadly: I love how the MAGAtards don’t realize that you are being facetious.

Everyone realized that, you stupid fucking reject. Nice job revealing how lost you are, very fitting profile picture. Go deeper and disappear completely.

[OK2]

I never bought into the millennial way of not owning anything and renting house/car/etc.

You have me reeling. Not gonna lie.

You self identify as a millenial?

We have so little left at PFA and now this. I’m a little depressed tbh.

It explains your sense of history though.

I’m gonna need some time.

LOL I was going to say something but decided against razzing out of respect.

[OK2]

The White House “acted swiftly and decisively to protect the American economy and strengthen public confidence in our banking system,” Newsom said in a statement. What Newsom didn’t mention is that it also protected his own companies if they held over $250,000 in deposits.

CADE, Odette, and PlumpJack, three wineries owned by Newsom, are listed as clients of SVB on the bank’s website. Newsom also maintained personal accounts at SVB for years, according to a longtime former employee of Newsom’s who handled his finances, and who requested anonymity to avoid professional reprisal.

Newsom also failed to mention his wife's professional ties to the bank. In 2021, SVB gave $100,000 to a charity founded by Jennifer Siebel Newsom, the California Partners Project, at the request of Newsom. SVB Capital President, John China, sits on the Board of Directors of the charity.

[OK2]

I know

It's absolutely disgraceful

ESG is cancer

Related:

https://www.zerohedge.com/markets/co...ool-admissions

America’s top medical schools, worried they have too few minority students, are doing something about it.

They are lowering academic standards for admission and trying to hide the evidence.

Columbia, Harvard, the University of Chicago, Stanford, Mount Sinai, and the University of Pennsylvania have already done so. The list already tops forty, and more are sure to follow.

After the covid capitulation career comfort clinging cult corrupt cringe crew completely castrated their credibility they're now adding even more incompetence into the system. Diversity!

Prepare for the lack of care to spiral even further

I know you don't get it but this for anyone else reading.
Your copy and paste contribution was taken from an opinion piece.
Not based on fact. That's important
Carry on pea brain.

Regulations? "No way this is Merica."
You're getting played by your neighbour.

[Daly]

I never bought into the millennial way of not owning anything and renting house/car/etc.

You have me reeling. Not gonna lie.

You self identify as a millenial?

We have so little left at PFA and now this. I’m a little depressed tbh.

It explains your sense of history though.

I’m gonna need some time.

Me? No.

There are a lot of Thirtysomethings I play cards with that fully embrace that life. Think Im a dinosaur for owning a house.