(Thread IKs:
skooma512)
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Eric Cantonese posted:The day hasn't even started for the US. Jeez. As that Saudi minister and Janet Yellen knows first hand, someone phrases something wrong and people could get spooked and do all the things you degenerates are rooting for. 
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Mar 20, 2023 14:20
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credit pisse
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Mar 20, 2023 14:23
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i would have thought europe was insulated from swiss bank failure by virtue of swiss self-exclusion from the union
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Mar 20, 2023 14:24
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err posted:the car situation is so bad, cars are so expensive now and people with low credit scores are missing payments at record levels: was the recent dip during covid checks? HOLY poo poo GIVING PEOPLE MONEY IS ACTUALLY AWESOME AND HELPS A LOT WITH BILLS AND STUFF
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Mar 20, 2023 14:26
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TDepressionEarl posted:i would have thought europe was insulated from swiss bank failure by virtue of swiss self-exclusion from the union Schengen Area influence!
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Mar 20, 2023 14:29
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europe signed too many commercial pacts with the swiss and were on negative influence
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Mar 20, 2023 14:29
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Demon Of The Fall posted:was the recent dip during covid checks? HOLY poo poo GIVING PEOPLE MONEY IS ACTUALLY AWESOME AND HELPS A LOT WITH BILLS AND STUFF tons of bad indicators tanked when the checks went out but it turns out the entire us economy falls apart for years if you reduce misery even slightly
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Mar 20, 2023 14:29
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Lol NY Bancorp up 40% at opening Seems normal
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Mar 20, 2023 14:33
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We bailed out airlines for more than they were collectively worth because they had to sit on their hands for two weeks.
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Mar 20, 2023 14:34
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forkboy84 posted:Lol NY Bancorp up 40% at opening They got the decent assets from Signature Bank at a big discount. I can see a bull case for that. https://www.marketwatch.com/story/wedbush-upgrades-ny-community-bancorp-on-sweetheart-deal-for-signature-bank-assets-810a1915
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Mar 20, 2023 14:35
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ScrubLeague posted:We bailed out airlines for more than they were collectively worth because they had to sit on their hands for two weeks. airlines are banks that also do logistics. if airlines fail then the state fails. they aren't "worth" a whole lot because it costs a ton to keep jets maintained and organized correctly, and the labor is specialized with security clearance, so the profit is slim.
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Mar 20, 2023 14:38
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TDepressionEarl posted:airlines are banks that also do logistics. if airlines fail then the state fails. they should be nationalized op
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Mar 20, 2023 14:39
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Guy on Bloomberg arguing for FDIC to guarantee deposits up to $1m.
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Mar 20, 2023 14:39
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Number up, no crisis here.
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Mar 20, 2023 14:40
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forkboy84 posted:Guy on Bloomberg arguing for FDIC to guarantee deposits up to $1m. let banks gamble with no consequences, drat it
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Mar 20, 2023 14:40
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Spoondick posted:my stepdad was into this poo poo too then a wildfire burnt all his poo poo to ashes in 2 hours... a collapsed society has no woodland firefighters so rugged independent off the grid dudes in forests are going to be in for some surprises I never understood the appeal of weekend prepper poo poo because survival isn't really a hobby ans you're not really doing wilderness survival if you're working in an office five days a week Primitive cultures had answers for forest fires but none of them matter if you're filing reports and going to meetings when you should be preparing a fire line
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Mar 20, 2023 14:41
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forkboy84 posted:Guy on Bloomberg arguing for FDIC to guarantee deposits up to $1m. As of last week they already insure infinite deposits
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Mar 20, 2023 14:41
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FRC down 10%+ today. Remember, there's always blood somewhere 
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Mar 20, 2023 14:42
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sleep with the vicious posted:As of last week they already insure infinite deposits only for big banks. Small banks can pound sand lol.
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Mar 20, 2023 14:42
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FlapYoJacks posted:only for big banks. Small banks can pound sand lol. well yeah they want to consolidate everything into the giant 4
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Mar 20, 2023 14:43
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FlapYoJacks posted:only for big banks. Small banks can pound sand lol. what if small banks just don't over-leverage themselves, play around with the $250k or less money per account and keep the rest of the money safe like they're meant to
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Mar 20, 2023 14:45
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Good Soldier Svejk posted:what if small banks just don't over-leverage themselves, play around with the $250k or less money per account and keep the rest of the money safe like they're meant to *CEO looks at savings account* "How about 'NO'?"
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Mar 20, 2023 14:50
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also why hasn't Biden replaced Powell with someone who will just turn back on the money fountain since it's pretty clear that the fiscal austerity bullshit is just the same thing that happens every time a dem takes office
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Mar 20, 2023 14:52
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Good Soldier Svejk posted:what if small banks just don't over-leverage themselves, play around with the $250k or less money per account and keep the rest of the money safe like they're meant to But then they won't be able to compete with the big banks!!! It's perverse, right? The FRC and SVB sized banks were agitating for Dodd Frank rollbacks so they could get more aggressive and offer better terms to help them keep customers. They ultimately got screwed, though, because they could not offer the kind of safety afforded by the more regulated bigger banks.
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Mar 20, 2023 14:53
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forkboy84 posted:Guy on Bloomberg arguing for FDIC to guarantee deposits up to $1m. The funny part is that 1 million wouldn't be near enough. There are vc tech companies, they have way more than just a million bucks.
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Mar 20, 2023 15:00
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99.9% of bank deposits are probably below 10k
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Mar 20, 2023 15:06
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over 50% of americans dont have 500 in the bank
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Mar 20, 2023 15:08
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[doomsday economics] coo coo for CoCos Bonds
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Mar 20, 2023 15:09
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Eric Cantonese posted:But then they won't be able to compete with the big banks!!! "Regulated"
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Mar 20, 2023 15:12
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Grapplejack posted:"Regulated" in the same sense that all gun owners are a well-regulated militia
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Mar 20, 2023 15:15
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The recession is here. The economy just doesn't know it yet. 😎 Edit: the Fred decision Wednesday is being estimated between -25bps to 25bps.
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Mar 20, 2023 15:15
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so nothing is happening eh? opening bell was almost an hour ago
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Mar 20, 2023 15:16
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So it looks like SVB was running a ponzi scheme? Lending money to startups that needed a liquid source of funds, requiring them to keep the loaned money in SVB, then drawing on the deposited loaned money to make more loans. Though ryan grim is sourcing this twitter account :https://twitter.com/Cryptadamist/status/1637385476565872645?utm_source=substack&utm_medium=email and I really don't want to go any further down that rabbit hole
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Mar 20, 2023 15:24
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FlapYoJacks posted:only for big banks. Small banks can pound sand lol. what bank was allowed to go under and wipe out deposits over 250k? because that'd be the end of all banks, lol. The only thing keeping the system alive is the FDIC saving all deposits, all the time.
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Mar 20, 2023 15:25
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Archduke Frantz Fanon posted:So it looks like SVB was running a ponzi scheme? Lending money to startups that needed a liquid source of funds, requiring them to keep the loaned money in SVB, then drawing on the deposited loaned money to make more loans. No, from most or all public reporting they were doing what every bank was, they just massively over indexed on banking for tech companies (whose cash reserves spiked due to the tech bubble) and long term bonds and hit a liquidity crunch when all the tech companies needed their money because they don't actually sell anything so they draw down their cash to meet payroll. A perfect storm but inevitable due to interest rate rises
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Mar 20, 2023 15:27
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Archduke Frantz Fanon posted:So it looks like SVB was running a ponzi scheme? Lending money to startups that needed a liquid source of funds, requiring them to keep the loaned money in SVB, then drawing on the deposited loaned money to make more loans. that's not a ponzi, it's literally how fractional reserve banking works. or it is a ponzi but it's an accepted one, take your pick.
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Mar 20, 2023 15:32
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the difference between jp morgan and ol chucky ponzi is one bank didnt get bailed out
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Mar 20, 2023 15:33
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going to put my savings in casino tokens in Vegas cause I know I can always cash those out
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Mar 20, 2023 15:36
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sleep with the vicious posted:No, from most or all public reporting they were doing what every bank was, they just massively over indexed on banking for tech companies (whose cash reserves spiked due to the tech bubble) and long term bonds and hit a liquidity crunch when all the tech companies needed their money because they don't actually sell anything so they draw down their cash to meet payroll. A perfect storm but inevitable due to interest rate rises It wasn't a huge part of their books, and i think they would have been fine if they didn't run their bank like a poorly run circus so im gonna go with Harik posted:that's not a ponzi, it's literally how fractional reserve banking works.
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Mar 20, 2023 15:39
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| # ? May 25, 2024 21:53 |
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love getting ghosted by recruiters in this poo poo job market
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Mar 20, 2023 15:40
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