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(Thread IKs: skooma512)
 
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spacemang_spliff
Nov 29, 2014

wide pickle

oh my god

https://twitter.com/VCBrags/status/1635072613189050368

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Jon Irenicus
Apr 23, 2008


YO ASSHOLE

Jim Kramer is almost full Metal Gear Solid voice by now

BRAKE FOR MOOSE
Jun 6, 2001

comedyblissoption posted:

it's a bail out of uninsured depositors that are billionaires

everyone understood that if you have uninsured money in a bank, that if the bank goes tits up as banks tend to do, you will take a haircut or massive loss on your uninsured deposits

to avoid this risk, you could make sure your money is insured or convert it into assets. but the exorbitantly wealthy being bailed out didn't want their money to be less liquid or eat the potential loss from interest rates going up or pay the implicit fees that come with insured deposits.

the government is stepping in and saying that wealthy people are not allowed to lose money even though they placed a bet and failed on a risk that everyone understood! they get to have their cake and eat it!

where did this narrative even come from, why do you think individual billionaires would ever want to hold on to fuckloads of cash equivalents earning far less than they could in any other investment

the accounts are nearly all companies holding cash for operational expenses, it's not a bet, it's the opposite of a bet, as the only way they lose is the catastrophic failure of a top 20 largest bank, not a shift in the market

you can think it's a bad thing to make depositors whole without making up the dumbest poo poo in the world to justify it. you can just think it's bad

Honky Mao
Dec 26, 2012


Nothing, most of this is pretty far removed from being real

Hockenheim
Oct 20, 2022

by VG

don't mind me just quoting this

Tempora Mutantur
Feb 22, 2005

SKULL.GIF posted:

The overnight rally began dumping pretty much the instant he tweeted this stuff. He has a true gift.

"A man can be an artist. In anything. Food, whatever. It depends on how good he is at it. Cramer's art is financial death. He's about to paint his masterpiece."

triple sulk
Sep 17, 2014



so are at least two more banks shutting down today

coelomate
Oct 21, 2020


triple sulk posted:

so are at least two more banks shutting down today

maybe. First Republic may already be dead based on how the market is moving against it.

neutral milf hotel
Oct 9, 2001

by Fluffdaddy
did you know Barney Frank sits on the board of Signature bank?

https://twitter.com/josephzeballos/status/1635074769895981056

neutral milf hotel
Oct 9, 2001

by Fluffdaddy

triple sulk posted:

so are at least two more banks shutting down today

inshallah

biceps crimes
Apr 12, 2008


SpaceDrake posted:

nah, material reality is going to reflect on policy eventually, and we get ever closer to that every day

next time will be different!

unless…

Crusader
Apr 11, 2002

https://www.youtube.com/watch?v=sTF01KRkGhA

Mirthless
Mar 27, 2011

by the sex ghost

Hockenheim posted:

don't mind me just quoting this

this is gonna make for the dopest meme video, where you just put a bunch of cramer tweets at various points superimposed against a graph of number sinking

Nothus
Feb 22, 2001

Buglord

coelomate posted:

Biden speaking at 8am Monday, a totally normal time for Presidential addresses and in no way a Baghdad Bob impression.

And speaking before markets open. :thunk:

Mr Hootington
Jul 24, 2008

I'M HAVING A HOOT EATING CORNETTE THE LONG WAY
HSBC bought the SVB UK branch for £1

SKULL.GIF
Jan 20, 2017


Monday the 13th 2023, a date that will live in infamy

coelomate
Oct 21, 2020


neutral milf hotel posted:

did you know Barney Frank sits on the board of Signature bank?

sat*

bank got nuked yesterday and board management and shareholders r fuk today. all assets now owned by FDIC :salute:

Sweeper
Nov 29, 2007
The Joe Buck of Posting
Dinosaur Gum

coelomate posted:

Biden speaking at 8am Monday, a totally normal time for Presidential addresses and in no way a Baghdad Bob impression.

9am in the real time zone, ET: https://www.whitehouse.gov/live/

quote:

President Biden delivers remarks on maintaining a resilient banking system and protecting our historic economic recovery.

Yes, the most resilient banking system

coelomate
Oct 21, 2020


SKULL.GIF posted:

Monday the 13th 2023, a date that will live in infamy

we doing affirmations to wish this into existence now?

dow futures arts down like 0.25%, I feel like we’re gonna be disappointed in todays blood

SKULL.GIF
Jan 20, 2017


coelomate posted:

we doing affirmations to wish this into existence now?

dow futures arts down like 0.25%, I feel like we’re gonna be disappointed in todays blood

"down -0.25%" ignoring that it's down 2.6% from the high of the overnight rally that came on the back of the FDIC declaring an end to insolvency, coming off a -1.5% dump on Friday.

my bony fealty
Oct 1, 2008

coelomate posted:

maybe. First Republic may already be dead based on how the market is moving against it.

waiting to see if the VCs and their companies who parked money in FR are going to start running today

it'd be hellaa funny if a bunch of em transferred cash from SVB to FR and then start moving it from FR to ?? today. The bank run treadmill.

Woke Mind Virus
Aug 22, 2005

Lmao the market doesn't even care

Jel Shaker
Apr 19, 2003

Mola Yam posted:

had a flash of clarity where i realized the next X years are just whipsawing rapidly between liquidity crises and rapid inflation, shaking society apart like a limp infant.

not an allegory i expected to read at breakfast but ok

Raskolnikov38
Mar 3, 2007

We were somewhere around Manila when the drugs began to take hold

Mr Hootington posted:

HSBC bought the SVB UK branch for £1

I’d buy that for a dollar

Koirhor
Jan 14, 2008

by Fluffdaddy
Peter Thiel orchestrated a bankrun to keep Jay in line is some Mr Robot poo poo

shrike82
Jun 11, 2005

what liquidity crisis?

forkboy84
Jun 13, 2012

Corgis love bread. And Puro


neutral milf hotel posted:

did you know Barney Frank sits on the board of Signature bank?

https://twitter.com/josephzeballos/status/1635074769895981056

No nipples on display this time, he clearly learned

gradenko_2000
Oct 5, 2010

HELL SERPENT
Lipstick Apathy

my bony fealty posted:

waiting to see if the VCs and their companies who parked money in FR are going to start running today

it'd be hellaa funny if a bunch of em transferred cash from SVB to FR and then start moving it from FR to ?? today. The bank run treadmill.

Bank relay race

Happy Noodle Boy
Jul 3, 2002


imagine four banks at the edge of a cliff

Zeroisanumber
Oct 23, 2010

Nap Ghost

neutral milf hotel posted:

did you know Barney Frank sits on the board of Signature bank?

https://twitter.com/josephzeballos/status/1635074769895981056

I seriously thought he was dead.

Red Baron
Mar 9, 2007

ty slumfrog :)

my bony fealty posted:

waiting to see if the VCs and their companies who parked money in FR are going to start running today

it'd be hellaa funny if a bunch of em transferred cash from SVB to FR and then start moving it from FR to ?? today. The bank run treadmill.

imagining a future of never ending bank runs, every day a new bank collapses, and in its place a newer, somehow sketchier replacement crops up, until eventually we’re all just banking with payday loan vendors.

comedyblissoption
Mar 15, 2006

BRAKE FOR MOOSE posted:

where did this narrative even come from, why do you think individual billionaires would ever want to hold on to fuckloads of cash equivalents earning far less than they could in any other investment

the accounts are nearly all companies holding cash for operational expenses, it's not a bet, it's the opposite of a bet, as the only way they lose is the catastrophic failure of a top 20 largest bank, not a shift in the market

you can think it's a bad thing to make depositors whole without making up the dumbest poo poo in the world to justify it. you can just think it's bad
it's absolutely a bet! lmao

Jel Shaker
Apr 19, 2003

so if i’m a billionaire why should i risk my billions in all this market turmoil, might as well just stash it in a normal cash account, it’s risk free

Chris James 2
Aug 9, 2012


:munch:

SKULL.GIF
Jan 20, 2017


-1% -3% from intrasession high

coelomate
Oct 21, 2020


Jel Shaker posted:

so if i’m a billionaire why should i risk my billions in all this market turmoil, might as well just stash it in a normal cash account, it’s risk free

if you're a billionaire you should have your billions in short term us treasuries. no bank risk and 4.5% interest dummy.

Bank accounts aren't GOOD. They suck. They're just necessary for payroll and poo poo.

gradenko_2000
Oct 5, 2010

HELL SERPENT
Lipstick Apathy
bank run bank run
whatcha gonna do
whatcha gonna do when they bailout you

meanolmrcloud
Apr 5, 2004

rock out with your stock out

me, managing literal trillions of assets, talking to my friends who also oversee trillions of assets: do you think we should let our iron grip of financial domination slip for even a second?

Mr Hootington
Jul 24, 2008

I'M HAVING A HOOT EATING CORNETTE THE LONG WAY
2 year treasurers yield is down .52BPS. :prepop:

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shrike82
Jun 11, 2005

.52BPS lol

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