Engorged Pedipalps posted:

Not if you can't even define what it is

Janitor Ludwich IV posted:

Ok, you've got me, there's no way to tell the difference between John wick and pornhub

Engorged Pedipalps posted:

You want there to be sorting criteria to automatically prevent the stuff from appearing before you, but you can't provide those specific criteria or even the most vague description of what that criteria might be in technical terms

Nothus posted:

is it fall-gal, fall-woman, or fall-person?

Real hurthling! posted:

just filter out anime

RealityWarCriminal posted:

steam does age verification, but only when games ask for it. so usually it will be some AAA game with a little blood and a side boob asking your age and then the next game is shovelware pornography

Engorged Pedipalps posted:

You literally have to opt in to view adult content

Azuth0667 posted:

Cook your own food without the additives?

Janitor Ludwich IV posted:

The same evil adult tag hiding nice softcore lesbo porn from our children

Engorged Pedipalps posted:

I thought you were concerned about hardcore porn, now you're worried your kids are going to see lesbians?

SKULL.GIF posted:

Economy

smug jeebus posted:

What is MvC

Janitor Ludwich IV posted:

Great trolling I'm loving pissed

quote:

Bank of America is bearing the cost of decisions made three years ago to pump the majority of $670bn in pandemic-era deposit inflows into debt markets at a time when bonds traded at historically high prices and low yields.

The moves left BofA, the second-largest US bank by assets, with more than $100bn in paper losses at the end of the first quarter, according to data from the Federal Deposit Insurance Corporation. The sum far exceeds unrealised bond market losses reported by its largest peers.

The differing results reflect strategies undertaken early in the Covid-19 pandemic, when banks absorbed a flood of deposits from savers. BofA put more money into bonds, while others parked a greater share in cash.

Now that yields have risen and bond prices have fallen, the value of BofA’s portfolio has plunged. By contrast, JPMorgan Chase and Wells Fargo — the nation’s first and third-largest banks, respectively — each had about $40bn in unrealised bond market losses, while fourth-largest Citigroup’s paper losses were $25bn.

The losses at BofA accounted for a fifth of the $515bn in total unrealised losses in the securities portfolios among the nation’s nearly 4,600 banks at the end of the first quarter, FDIC data showed.

“[BofA chief executive] Brian Moynihan has done a phenomenal job in handling the bank’s operations,” said Dick Bove, a veteran bank analyst who is the chief strategist at boutique broker Odeon Capital. “But if you look at the bank’s balance sheet, it’s a mess.”

BofA has said it has no plans to sell the underwater bonds, avoiding crystallised losses that for now exist only on paper. The bank’s portfolio consists of highly rated government-backed securities that are likely to eventually be paid back when the underlying loans mature.

But holding on to the relatively low-yielding investments, many of which are backed by 30-year home loans, at a time when newly purchased bonds yield significantly more, could limit the income that BofA can generate from its customer deposits.

“I think the jury is still out,” said Jason Goldberg, a bank analyst at Barclays, of BofA’s bond portfolio. “When rates were low they were making more money then rivals. Fast-forward to today and they are making less.”

Years of low interest rates, increased regulation and tepid economic growth prompted banks of all sizes to put more deposits into bonds and other securities or boost lending by pursuing less creditworthy borrowers. From the end of 2019 to mid-2022, the total value of securities, mostly Treasuries and insured mortgage bonds, at all banks rose by 54 per cent, or $2tn, and about twice as fast as their overall assets, according to FDIC data.

Silicon Valley Bank, which both boosted securities holdings and lent to money-losing start-ups, is emblematic of how the strategy has backfired. A bank run torpedoed SVB in March, sparked by an announcement that it had lost $1.8bn in selling part of its securities portfolio.

BofA has $370bn in cash and is not facing any SVB-like liquidity crunch. In fact, BofA and other big banks have received inflows of deposits from customers of regional lenders. Most home loans are paid off far earlier than their 30-year term, and if interest rates were to fall again, then BofA’s bond holdings would regain value.

BofA, like other peers, also fared well in the Fed’s annual stress tests, the results of which were released on Wednesday.

Nonetheless, the effects of BofA’s securities portfolio mis-steps are being felt by investors, analysts say. Shares of BofA have fallen 15 per cent this year, making it the worst performer of any of its large rivals. JPMorgan shares have gained 3 per cent.

Xaris posted:

BOFA loses $100 billion after betting on bonds https://www.ft.com/content/df4f343c-5666-43a2-ba01-ef315bfb119a

bofa my balls

quote:

quote:

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smug jeebus posted:

What is MvC

quote:

Buoyant sterling and falling oil prices have hurt London’s flagship index this year

The UK has missed out on a global stock market rally so far in 2023 as the Bank of England’s rush to raise interest rates and falling oil prices hold back the FTSE 100.

London’s main benchmark has lagged well behind other big developed market indices, up less than 0.5 per cent from the level at which it finished 2022 by Thursday’s close, having fallen 2 per cent this quarter. The latest setback for a market that has long been out of favour with investors at home and abroad has dashed hopes that last year’s relative resilience heralded the start of a longer period of catch-up for the FTSE.

Rich in oil majors and other cash-generative value stocks but lacking large technology groups able to benefit from the recent hype around artificial intelligence, the UK makes for a relatively hard sell, analysts say. Meanwhile, relatively turbulent politics and uniquely stubborn inflation act as further deterrents to international investors.

Weak oil prices, rising rates and doubts over the BoE’s ability to rein in inflation have all contributed to the FTSE “putting up such a pedestrian show”, said Russ Mould, investment director at AJ Bell. “There’s not much tech or AI hoopla to be had,” he said.

Indices in Europe and the US have fared far better. France’s Cac 40 is up 12 per cent for the year, powered by a rally in luxury goods companies, while Germany’s Dax has gained 14 per cent. In the US, gains for Big Tech have pushed the top-heavy S&P 500 14 per cent higher. Japan’s Topix has surged to a 33-year high, as investors have looked to gain exposure to Chinese growth while minimising geopolitical risk.

Xaris posted:

i think england will be the first western country to collapse. the imperial core has passed it by

SKULL.GIF posted:

Economy

SKULL.GIF posted:

There was something interesting yesterday about how Goldman Sachs or JP Morgan is massively underwater on housing loans I think. I'll see if I can find it.

edit: https://twitter.com/zerohedge/status/1674242683437457408

SKULL.GIF posted:

What's defined as collapse anyway? If you're holding out for "the government dissolves" it's never gonna get to that point. But a lot of other measures of "collapse" England is already well on the way.

Engorged Pedipalps posted:

There's no winning with any of the artificial sweeteners but aspartame has the most research behind it so if you're making GBS threads your pants about Splenda causing genetic damage aspartame is probably the safest fallback, from the perspective of a company shielding itself from bank shattering future litigation

Pepsi and coke 100% know and have known every bad thing artificial sweeteners can do, both took a hard right on sucralose years before that research even started surfacing

triple sulk posted:

love applying for jobs and getting one way interview requests and kindly telling them to gently caress off

smug jeebus posted:

What is MvC

sd6 posted:

I had to look up what a "one way interview" is, and lol