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bob dobbs is dead posted:as i said. the fact that the treasuries have been continually and faithfully paid did not save them one whit gently caress not black scholes I forgot which pricing thing it was treasury security isn't relevant to liquidity. Yeah those bonds are gonna pay back 100 at maturity, but right now they're not worth 100 and if that's what you need to pay your depositors when they *all* want to take money out you can't be like "hold on guys, in another 10 years we'll be fine!"
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# ? Mar 10, 2023 23:57 |
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# ? Jun 8, 2024 07:06 |
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yes. thats the steamroller portion of what banking is this already is a contagion from that other stupider crypto bank. the question is, will there be contagion to the half dozen other banks with incredible ratios of basically uninsured corp accounts. none have that 97% ratio, but there are plenty with like 70%
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# ? Mar 11, 2023 00:01 |
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whats it mean when your company posts in slack that they're "aware of the SVB situation and currently working with the bank to avoid company disruptions?"
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# ? Mar 11, 2023 00:02 |
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teen phone cutie posted:whats it mean when your company posts in slack that they're "aware of the SVB situation and currently working with the bank to avoid company disruptions?" you may have been owned
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# ? Mar 11, 2023 00:03 |
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you have a material chance they dont make payroll
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# ? Mar 11, 2023 00:03 |
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https://twitter.com/AnonymousLeftie/status/1634307745036791810
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# ? Mar 11, 2023 00:03 |
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Archduke Frantz Fanon posted:you may have been owned dam. welp here's hoping my 10+ year old, not-profitable company with a board didn't put all their money into one bank
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# ? Mar 11, 2023 00:05 |
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lmao whoops https://twitter.com/crupicrupicrupi/status/1634321772592939009
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# ? Mar 11, 2023 00:11 |
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bob dobbs is dead posted:yes. thats the steamroller portion of what banking is oh right sorry I thought you meant like contagion everywhere like 2008 not like "contagion to banks 100% tied to crypto and startups", gently caress those guys
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# ? Mar 11, 2023 00:11 |
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all these babies like "I lived through the Great Recession of 2008" like motherfucker things were better by 2010, we need someone who lived through fuckin stagflation
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# ? Mar 11, 2023 00:11 |
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i meant the banks and brokerages i mentioned which fulfill those criteria, like boa and schwab
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# ? Mar 11, 2023 00:12 |
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Powerful Two-Hander posted:no not quite. bond prices are weird in that the price is inverse to the rate they pay Vs uhhhhh the risk free return? I think? With that being "I put my money in the fed at the base interest rate" so you may have a load of nice us treasuries paying 1% that were super compared to your risk free rate of 0.1%, but now the risk free rate (or the rate on new us bonds) is 4% if you try to offload them they're going to be discounted to reflect the larger coupons you're passing up since there's a lot of bond chat here today, I'm gonna quote something I edited into the BFC long-term thread OP last year. it covers bond pricing, interest rates, yields, etc: BFC posted:Help, I don't understand bonds! we're also having some fun with this over the the BFC stocks thread but I really enjoy the yospos SV slant on all this
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# ? Mar 11, 2023 00:13 |
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e: beaten
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# ? Mar 11, 2023 00:14 |
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also I think just knowing what interest-rate risk was before 2023 qualifies me to be the CRO at SIVB's replacement
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# ? Mar 11, 2023 00:15 |
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https://twitter.com/JosephPolitano/status/1634306931870375936
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# ? Mar 11, 2023 00:18 |
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rotor posted:all these babies like "I lived through the Great Recession of 2008" like motherfucker things were better by 2010, we need someone who lived through fuckin stagflation I can't wait for the *counts* fifth 'once in a lifetime' giant recession/crash since I've been legally considered an adult
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# ? Mar 11, 2023 00:22 |
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i do have to mention wrt that putative contagion method that you can buy deposit insurance third party like but the 250k comes w the account per entity
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# ? Mar 11, 2023 00:22 |
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rotor posted:all these babies like "I lived through the Great Recession of 2008" like motherfucker things were better by 2010, we need someone who lived through fuckin stagflation are you volunteering?
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# ? Mar 11, 2023 00:24 |
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looking at stock market halts, the equity peeps guess at who will be next is regional retail banks e: my god, every single regional bank has a sweaty "we're good for your money" thing on its home page bob dobbs is dead fucked around with this message at 00:26 on Mar 11, 2023 |
# ? Mar 11, 2023 00:24 |
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pseudorandom name posted:are you volunteering? man its fuckin friday night what do you think
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# ? Mar 11, 2023 00:28 |
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bob dobbs is dead posted:e: my god, every single regional bank has a sweaty "we're good for your money" thing on its home page confirmed lol
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# ? Mar 11, 2023 00:29 |
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PNC remains unshaken and barely touched once again you should never doubt pittsburgh
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# ? Mar 11, 2023 00:29 |
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look at this https://www.firstrepublic.com/
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# ? Mar 11, 2023 00:30 |
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yeah i posted some tickers a while ago in BFC but it’s basically a handful of regionals, plus Charles Schwab. SCHW has a terrible balance sheet for the same reasons as SIVB but much better ability to fund its daily ops
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# ? Mar 11, 2023 00:34 |
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all the ohio banks i once used have no warning, but citizens bank does your money is safely buried in the parking lot of CBP next to where the fanatic keeps his victims edit: oh wait that's just a security warning about scam emails i guess it's the west coast regionals that are freaking out
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# ? Mar 11, 2023 00:34 |
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is this bitcoin finally crashing the global economy like i've been worried it would for years now
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# ? Mar 11, 2023 00:38 |
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its rising interest rates
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# ? Mar 11, 2023 00:38 |
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butbob dobbs is dead posted:this already is a contagion from that other stupider crypto bank.
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# ? Mar 11, 2023 00:40 |
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bob dobbs is dead posted:look at this thats an on the ball marketing team
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# ? Mar 11, 2023 00:41 |
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yeah, but the crypto bank didnt get hosed by the usual crypto method of embezzlement, it was another run. 1880s style financial fuckup not a 2021 style fuckup
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# ? Mar 11, 2023 00:41 |
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solid lmao if this is actually all peter thiels fault
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# ? Mar 11, 2023 00:42 |
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rotor posted:thats an on the ball marketing team thats a bank staffed by peeps who are acutely aware of what banking is and will wear their most formal clothes and have outrageously large piles of physical cash come tomorrow or monday or whenever they next open
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# ? Mar 11, 2023 00:45 |
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yep
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# ? Mar 11, 2023 00:46 |
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e: lol
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# ? Mar 11, 2023 00:46 |
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my don't worry about the bank run shirt has people asking a lot of questions resolved by heeding the kindly advice printed on my shirt
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# ? Mar 11, 2023 01:00 |
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i smell free toaster
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# ? Mar 11, 2023 01:01 |
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I imagine working for the FDIC must be just one long series of picking up the phone going "they did what? Again?" And putting your head in your hands as you think about how you're gonna have to spend your weekend finding a buyer for 100 bllion dollars worth of idiot VC deposits
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# ? Mar 11, 2023 01:06 |
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https://twitter.com/LaurenSHirsch/status/1634315816106618880?s=20
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# ? Mar 11, 2023 01:06 |
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they do a whole lotta nothing for a decade or two and then everything goes to poo poo. then another decade or two of nothing. just like any other highly correlated insurance job, like hurricane or earthquake insurance
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# ? Mar 11, 2023 01:07 |
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# ? Jun 8, 2024 07:06 |
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Powerful Two-Hander posted:I imagine working for the FDIC must be just one long series of picking up the phone going "they did what? Again?" And putting your head in your hands as you think about how you're gonna have to spend your weekend finding a buyer for 100 bllion dollars worth of idiot VC deposits https://twitter.com/joshtpm/status/1634330899171901440 even better, in this case if you go to full tweet and read the part cut off by SA preview, it was Silicon Valley Bank themselves that lobbied hard for the regulatory rollback to let them be stupid and ultimately cause all this
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# ? Mar 11, 2023 01:09 |