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Pf. Hikikomoriarty posted:it was credit risk that time, this time it is interest rate risk give it a quarter and itll come
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Mar 12, 2023 22:51
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rotor posted:i feel like its market manipulation but idk. a lot of it is market manipulation, the "founders" (which will always have fascist undertones to me, thanks ds9) realize the odds of getting a bailout are pretty low and are accordingly trying to engineer bank runs on other institutions so that a general bailout is both necessary and more palatable i think at least some of them realize the cognitive dissonance between screaming "WE ARE THE ONLY VALUABLE PART OF THE ECONOMY YOU WILL REGRET THIS" and actually producing nothing of value, so it's an interesting gambit probably illegal though lol
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Mar 12, 2023 22:56
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https://twitter.com/danprimack/status/1634960013667041280 if only there were some alternative to charter schools
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Mar 12, 2023 23:09
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Beeftweeter posted:i do have some sympathy for the people playing by the rules and making a genuinely useful product, but for every one of those there are 20 bespoke to-do list apps that absolutely should not have received the amount of funding they did. they were always running on borrowed time and we also knew this, that's the point of these long-running threads yeah it’s pretty frustrating. i turned down quite a few gigs that were clearly prime tech bublè thread material before i finally found the one i’m in now. however i also know how to read a room and have held back on kramering around the rest of the internet to NOT ALL STARTUPS at all the well-deserved venom being directed at this scene in general. i’m pretty sure we’ll survive this because as i said before, we make a real product that a lot of real companies are relying on to solve very real problems and pay us buku real money for it. it’ll be really disappointing if we go belly up over something so incredibly stupid
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Mar 12, 2023 23:17
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https://twitter.com/TheStalwart/status/1635042718484185088
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Mar 12, 2023 23:19
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PIZZA.BAT posted:yeah it’s pretty frustrating. i turned down quite a few gigs that were clearly prime tech bublè thread material before i finally found the one i’m in now. however i also know how to read a room and have held back on kramering around the rest of the internet to NOT ALL STARTUPS at all the well-deserved venom being directed at this scene in general. unironically hope it works out for you
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Mar 12, 2023 23:19
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lol quote:We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. lmao quote:Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
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Mar 12, 2023 23:21
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v striking lack of details on what they're actually doing there eh
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Mar 12, 2023 23:26
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oh there's a separate release with that. it seems v similar to stuff they've been doing a lot of in this past decade, it's just quantitative easing again. https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm
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Mar 12, 2023 23:27
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Pinterest Mom posted:v striking lack of details on what they're actually doing there eh 60 minutes did a segment on the FDIC taking over a bank back in '08 and I found it pretty illuminating in terms of "what do they do" https://www.youtube.com/watch?v=TAE8i40A5uI
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Mar 12, 2023 23:28
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drat so the end result is similar to the bank being closed an extra couple of days? I’ve seen worse fates for banks that switched mobile apps. bdid must be devastated that people will be fine.
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Mar 12, 2023 23:31
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dow/s&p/nasdaq/russell futures soaring! everything is fine! socialize those losses! actions have no consequences! i hate these loving people so very, very much
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Mar 12, 2023 23:37
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PIZZA.BAT posted:buku beaucoup
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Mar 12, 2023 23:37
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rotor posted:beaucoup merci
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Mar 12, 2023 23:40
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The_Franz posted:dow/s&p/nasdaq/russell futures soaring! everything is fine! guillotine
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Mar 12, 2023 23:44
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The_Franz posted:dow/s&p/nasdaq/russell futures soaring! everything is fine! did we read different press releases? they’re making it very clear that the share holders and creditors are gonna eat poo poo. as they should rotor posted:beaucoup thank you. i knew i was misspelling it but didn’t care to look up the correct one
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Mar 12, 2023 23:45
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Yeah, assuming they couldn’t go through the accounts and only insure the ones that add value to society, this is probably a best case scenario.
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Mar 12, 2023 23:48
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PIZZA.BAT posted:did we read different press releases? they’re making it very clear that the share holders and creditors are gonna eat poo poo. as they should i had to look it up too
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Mar 12, 2023 23:48
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https://twitter.com/stevehouf/status/1635048569379127296 this is designed to solve all the balance sheet duration risk issues across the industry
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Mar 12, 2023 23:49
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how would loans at par help?
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Mar 12, 2023 23:52
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hobbesmaster posted:how would loans at par help? banks have a mix of assets - some cash, most not the problem with a bank run is people are asking for cash, and you can't really give them a treasury bond or whatever instead this is the fed coming in and saying "look, give us the treasury bond, we'll give you cash of the same value to get through a short-term cash crunch, and a year from now we'll just do the same trade in the opposite direction". nobody's overall balance sheet is being changed, just what those balance sheets are composed of.
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Mar 12, 2023 23:57
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that makes perfect sense at least
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Mar 13, 2023 00:06
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whoever first said "there are no libertarians in a bank run" is my personal hero
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Mar 13, 2023 00:06
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https://twitter.com/davidgura/status/1635052327324520449
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Mar 13, 2023 00:07
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i guess this problem was much more systemic than was being let on and if the contagion was allowed to spread on monday we’d be looking at a real poo poo circus the fact they’re making the banks pay for their fuckup this time is a bit of a breath of fresh air for once
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Mar 13, 2023 00:08
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https://cdn.discordapp.com/attachments/798965149716709486/1083488232525791232/RPReplay_Final1678372783.mov
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Mar 13, 2023 00:10
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PIZZA.BAT posted:i guess this problem was much more systemic than was being let on and if the contagion was allowed to spread on monday we’d be looking at a real poo poo circus you post a post like this on tuesday
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Mar 13, 2023 00:10
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i dont loving know why discord embeds work sometimes and sometimes they dont. whatever
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Mar 13, 2023 00:10
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the horrifying truth we must all grasp here is that money touchers feel the same way about having to touch money as computer touchers feel about having to touch computar
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Mar 13, 2023 00:10
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bob dobbs is dead posted:you post a post like this on tuesday i was saying you were right! there was (and still is) real risk of contagion. the fact they’re implementing this program confirms that it was actually way worse than we thought
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Mar 13, 2023 00:11
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there really is a strong possibility of the fed playing weekend at bernies with some banks until cob friday either case. we will know everything by may
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Mar 13, 2023 00:14
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PIZZA.BAT posted:the fact they’re making the banks pay for their fuckup this time is a bit of a breath of fresh air for once they aren't, the shareholders have mostly already cashed out. the bank itself, which has already been closed down, just will not have equity the same people that were in charge of running it will get jobs at other financial institutions or venture capital firms. nothing will change and nobody will learn anything
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Mar 13, 2023 00:14
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PIZZA.BAT posted:the fact they’re making the banks pay for their fuckup this time is a bit of a breath of fresh air for once i will not believe these fuckers are seeing consequences until it actually happens same as liz holmes
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Mar 13, 2023 00:14
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Beeftweeter posted:they aren't, the shareholders have mostly already cashed out. the bank itself, which has already been closed down, just will not have equity i mean sure panic selling your shares as the price plunges to the floor is technically ‘cashing out’ but i very much doubt it was what they had in mind
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Mar 13, 2023 00:17
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Beeftweeter posted:they aren't, the shareholders have mostly already cashed out. the bank itself, which has already been closed down, just will not have equity they probably won’t be allowed to run a deposit bank not that that means poo poo. you’d think that that’s actually one of the less profitable jobs in finance and banking
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Mar 13, 2023 00:18
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VCs killing their own bank has managed to both kill the last remaining US crypto centric bank and solve the single biggest balance sheet challenge for the rest of the US banking industry. frankly good job by VCs lol
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Mar 13, 2023 00:25
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https://twitter.com/Jason/status/1635043623019638785 congrats, @jason 
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Mar 13, 2023 00:27
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PIZZA.BAT posted:did we read different press releases? they’re making it very clear that the share holders and creditors are gonna eat poo poo. as they should I’m looking at the futures market, which is way up, because markets/their devotees are incredibly stupid and not rational at all.
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Mar 13, 2023 00:28
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PIZZA.BAT posted:i mean sure panic selling your shares as the price plunges to the floor is technically ‘cashing out’ but i very much doubt it was what they had in mind the ceo sold $3.7 million worth of shares on thursday, either way they are doing way better than (probably) any one of us and a soft cushion is entirely undeserved
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Mar 13, 2023 00:30
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PIZZA.BAT posted:i dont loving know why discord embeds work sometimes and sometimes they dont. whatever it's a mov file. ain't nobody playing that
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Mar 13, 2023 00:43
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