[Doomsday Economics] Home of Kirbeh's FREE SLICE ($25 delivery fee)

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(Thread IKs: skooma512)

A Bakers Cousin: Dec 18, 2003; by vyelkin

ok im,, also starting a bank plz send money to cspambankforrealnocap@paypal.com

# ? Mar 13, 2023 02:05

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# ? May 25, 2024 06:23

Lacrosse: Jun 16, 2010; >:V

from the last thread:

SKULL.GIF posted:

As that ZH chart shows, Wells Fargo is my bet for the first Big 4 bank to pop like a balloon.

It was two, two days ago: Silvergate went down and then Silicon Valley Bank blew up at the end of last week. The third, Signature Bank got shut down like a hour ago by the Feds glowmen.

First Republic is likely to be next.

lmao pretty sure my job uses Wells Fargo for payroll, gdi

# ? Mar 13, 2023 02:05

BRAKE FOR MOOSE: Jun 6, 2001

Radirot posted:

so Yellen was full of poo poo to say no to bailout earlier? nothing makes sense.

it's all semantic games - people associate "bailout" with 2008 which this is not because the bank is dead

# ? Mar 13, 2023 02:06

Centrist Committee: Aug 6, 2019

euphronius posted:

bailout means save the shareholders afaict.

they were always going to make the depositors whole

yeah but who gives a poo poo about shareholders when you can just print money directly

# ? Mar 13, 2023 02:06

Xaris: Jul 25, 2006; Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

Lacrosse posted:

from the last thread:

lmao pretty sure my job uses Wells Fargo for payroll, gdi

while it's not a popular consumer or individual rich-person choice, almost every business and public agency uses wells fargo, it would be a shitshow of immense destructive porpotions, like legit complete collapse of america

e: to add, wells fargo personal banking is an absolute crook garbage shitshow. wells fargo business lines are basically a whole different tier: it's like like flying coach on Spirit Airlines/Ryan Air (and you're seated in the cargo hold) vs First Class KLM airlines. wells fargo business lines is massively pervasive in small to large businesses. i wouldn't be surprised if close to 80% of all payroll is handled through wells fargo business lines.

Xaris has issued a correction as of 02:12 on Mar 13, 2023

# ? Mar 13, 2023 02:07

Oglethorpe: Aug 8, 2005

Xaris posted:

almost every business and public agency uses wells fargo, it would be a shitshow of immense destructive porpotions, like legit complete collapse of america

# ? Mar 13, 2023 02:07

Centrist Committee: Aug 6, 2019

this is amazing, they�re letting any minor noble with a bank charter print money now

# ? Mar 13, 2023 02:08

A Bakers Cousin: Dec 18, 2003; by vyelkin

im pretty sure after wells fargo got away with all the crimes they have they have a bunch of congressional souls locked away somewhere or something

# ? Mar 13, 2023 02:08

Centrist Committee: Aug 6, 2019

too big to fail = any lovely regional bank in america

# ? Mar 13, 2023 02:09

Spaced God: Feb 8, 2014; All torment, trouble, wonder and amazement
Inhabits here: some heavenly power guide us
Out of this fearful country!

Xaris posted:

while it's not a popular consumer or individual rich-person choice, almost every business and public agency uses wells fargo, it would be a shitshow of immense destructive porpotions, like legit complete collapse of america

yeah there's a reason why they keep harping on all the cool poo poo they did in the wild west

# ? Mar 13, 2023 02:09

Oglethorpe: Aug 8, 2005

QUICK SOMEONE CALL KISSINGER

HE'S GOT THE SURPLUS AMERICAN CAPITAL IN HIS SOUL TO SAVE THE COUNTRY

SUCK IT OUT

# ? Mar 13, 2023 02:09

alarumklok: Jun 30, 2012

Homeless Friend posted:

we all knew deep down it was gonna happen lol

# ? Mar 13, 2023 02:09

Centrist Committee: Aug 6, 2019

this bcci rear end country

# ? Mar 13, 2023 02:10

Nix Panicus: Feb 25, 2007

Nobody will ever suffer consequences

Tomorrow, and tomorrow, and tomorrow,
Creeps in this petty pace from day to day,
To the last syllable of recorded time;
And all our yesterdays have lighted fools
The way to dusty death. Out, out, brief candle!
Life's but a walking shadow, a poor player,
That struts and frets his hour upon the stage,
And then is heard no more. It is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.

# ? Mar 13, 2023 02:10

Hot Damn!: Oct 28, 2004

Xaris posted:

if people have an healthy tolerance to reddit-isms, this is an interesting read. https://www.reddit.com/r/Superstonk/comments/z8wus9/hyperinflation_is_coming_the_dollar_endgame_part/ i don't agree entirely but im with the general gist

not gunna quote it all

That subreddit is home to a literal financial cult based on GameStop stock btw

Kind of embarassing

# ? Mar 13, 2023 02:11

Cao Ni Ma: May 25, 2010

goochtit posted:

Watch as a I magic 600 billion dollars from thin air.

# ? Mar 13, 2023 02:12

Woke Mind Virus: Aug 22, 2005

Hot drat! posted:

That subreddit is home to a literal financial cult based on GameStop stock btw

Kind of embarassing

not an argument

# ? Mar 13, 2023 02:13

Xaris: Jul 25, 2006; Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

goochtit posted:

lmao

# ? Mar 13, 2023 02:13

Flavahbeast: Jul 21, 2001

Superstonk is 100% right about gamestop stock, the squeeze is coming and the hedgie cope is unreal

# ? Mar 13, 2023 02:13

meanolmrcloud: Apr 5, 2004; rock out with your stock out

Flavahbeast posted:

Superstonk is 100% right about gamestop stock, the squeeze is coming and the hedgie cope is unreal

the most obviously deluded chronic gambler I know really hopes you are right.

# ? Mar 13, 2023 02:14

Centrist Committee: Aug 6, 2019

Flavahbeast posted:

Superstonk is 100% right about gamestop stock, the squeeze is coming and the hedgie cope is unreal

it�s gonna be an orgy of stock market uphoria to dow 50000 as everyone realizes there�s no way to fail any more the fed will bail anyone out

# ? Mar 13, 2023 02:14

BrotherJayne: Nov 28, 2019

Forseti posted:

Is there a bald white guy with glasses who isn't a tremendous dipshit

Ey gently caress u buddy

# ? Mar 13, 2023 02:16

Eric Cantonese: Dec 21, 2004; You should hear my accent.

Woke Mind Virus posted:

So if the paper loss on treasuries for SVB isn't real anymore because they can get new loans from the fed, then why exactly are the shareholders screwed? Isn't this company worth something again?

The bank was shut down and replaced by a nee entity under FDIC control. Shares in the old entity became worthless.

# ? Mar 13, 2023 02:16

Nix Panicus: Feb 25, 2007

number will slip the surly bonds of earth and ascend unhindered into the heavens

no more workers, no more risk, no more consequences, just number

# ? Mar 13, 2023 02:17

Rip Testes: Jan 29, 2004; I never forget a face, but in your case I'll be glad to make an exception.

Given what's happened, if we rewind the clock there should have never been a bank run because the deposits were never actually in jeopardy? The execs got to skate with their withdrawals and stock sells, but they are done making money off their bank and now we'll have another consolidation in the too big to fail banking industry as the worth of SVB is picked up at a discount? Is that what happened?

# ? Mar 13, 2023 02:17