(Thread IKs:
skooma512)
|
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. ![]()
|
![]() |
|
![]()
|
# ? Jun 12, 2024 23:10 |
|
credit pisse
|
![]() |
|
i would have thought europe was insulated from swiss bank failure by virtue of swiss self-exclusion from the union
|
![]() |
|
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
|
![]() |
|
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!
|
![]() |
|
europe signed too many commercial pacts with the swiss and were on negative influence
|
![]() |
|
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
|
![]() |
|
Lol NY Bancorp up 40% at opening Seems normal
|
![]() |
|
We bailed out airlines for more than they were collectively worth because they had to sit on their hands for two weeks.
|
![]() |
|
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
|
![]() |
|
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.
|
![]() |
|
TDepressionEarl posted:airlines are banks that also do logistics. if airlines fail then the state fails. they should be nationalized op
|
![]() |
|
Guy on Bloomberg arguing for FDIC to guarantee deposits up to $1m.
|
![]() |
|
Number up, no crisis here.
|
![]() |
forkboy84 posted:Guy on Bloomberg arguing for FDIC to guarantee deposits up to $1m. let banks gamble with no consequences, drat it
|
|
![]() |
|
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
|
![]() |
|
forkboy84 posted:Guy on Bloomberg arguing for FDIC to guarantee deposits up to $1m. As of last week they already insure infinite deposits
|
![]() |
|
FRC down 10%+ today. Remember, there's always blood somewhere ![]()
|
![]() |
|
sleep with the vicious posted:As of last week they already insure infinite deposits only for big banks. Small banks can pound sand lol.
|
![]() |
|
FlapYoJacks posted:only for big banks. Small banks can pound sand lol. well yeah they want to consolidate everything into the giant 4
|
![]() |
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
|
|
![]() |
|
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'?"
|
![]() |
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
|
|
![]() |
|
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.
|
![]() |
|
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.
|
![]() |
|
99.9% of bank deposits are probably below 10k
|
![]() |
|
over 50% of americans dont have 500 in the bank
|
![]() |
|
[doomsday economics] coo coo for CoCos Bonds
|
![]() |
|
Eric Cantonese posted:But then they won't be able to compete with the big banks!!! "Regulated"
|
![]() |
Grapplejack posted:"Regulated" in the same sense that all gun owners are a well-regulated militia
|
|
![]() |
|
The recession is here. The economy just doesn't know it yet. 😎![]() Edit: the Fred decision Wednesday is being estimated between -25bps to 25bps.
|
![]() |
|
so nothing is happening eh? opening bell was almost an hour ago
|
![]() |
|
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
|
![]() |
|
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.
|
![]() |
|
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
|
![]() |
|
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.
|
![]() |
|
the difference between jp morgan and ol chucky ponzi is one bank didnt get bailed out
|
![]() |
|
going to put my savings in casino tokens in Vegas cause I know I can always cash those out
|
![]() |
|
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.
|
![]() |
|
![]()
|
# ? Jun 12, 2024 23:10 |
|
love getting ghosted by recruiters in this poo poo job market
|
![]() |