SVB Bank Run: Fed Calling Emergency Meeting

[Anonymous]

So typical... privatize the profits but socialize the risks. That's the kind of bullshit "free market" the right wing promotes

[Anonymous]

Anonymous wrote:So typical... privatize the profits but socialize the risks. That's the kind of bullshit "free market" the right wing promotes

Always has been.

Like how the GOP set the timer on this bomb when they were in office and how they’re the party that set the timer under the rail lines, too.

[Anonymous]

I'm going to ask a question I already know the answer to: Why are banks investing money that was put on deposit into checking accounts? Shouldn't that only be done with money in savings and CDs?

[Anonymous]

Anonymous wrote:So typical... privatize the profits but socialize the risks. That's the kind of bullshit "free market" the right wing promotes

This was anything but a right wing bank. Open your eyes. READ.

Https://www.svb.com/globalassets/library/uploadedfiles/dei-at-svb-january-2022.pdf

Getting tired of all the lies in this thread.

[Anonymous]

Anonymous wrote:I'm going to ask a question I already know the answer to: Why are banks investing money that was put on deposit into checking accounts? Shouldn't that only be done with money in savings and CDs?

I am not sure what you are suggesting here. That banks take the money from their depositors and hold it as cash in their vaults?

[Anonymous]

Anonymous wrote:So typical... privatize the profits but socialize the risks. That's the kind of bullshit "free market" the right wing promotes

I assume you want your student loans forgiven?

[Anonymous]

Anonymous wrote:

Anonymous wrote:So typical... privatize the profits but socialize the risks. That's the kind of bullshit "free market" the right wing promotes

This was anything but a right wing bank. Open your eyes. READ.

Https://www.svb.com/globalassets/library/uploadedfiles/dei-at-svb-january-2022.pdf

Getting tired of all the lies in this thread.

All of this is belied by the composition of their executive team:

https://www.svb.com/leadership

[Anonymous]

Anonymous wrote:

Anonymous wrote:So typical... privatize the profits but socialize the risks. That's the kind of bullshit "free market" the right wing promotes

I assume you want your student loans forgiven?

I would rather see people's loans get forgiven than bail out a bunch of rich people (again).

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm going to ask a question I already know the answer to: Why are banks investing money that was put on deposit into checking accounts? Shouldn't that only be done with money in savings and CDs?

I am not sure what you are suggesting here. That banks take the money from their depositors and hold it as cash in their vaults?

For checking accounts, yes. They are meant to be highly liquid and provide miniscule to no interest to depositors. Why is that money invested, and why aren't the gains given to the depositors?

[Anonymous]

Anonymous wrote:The United States is being attacked from within

Peter Theil did this on his quest for Q/Facism.

He & his cohorts are going to destroy us.

Keep voting Republican people it will not end well. More of this is coming and it will be bad.

This.

Orchestrated.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So there are all of these libertarians etc calling on the Fed/FDIC to basically take over and secure the bank.

Keep in mind, this i only happening because Trump totally gutted regulations that would have prevented this from happening. So we are going to get a massive bailout for Silicon Valley Bank and yet people complain about a few thousand dollars in bailouts for student loans.

For one, the FDIC already took over the bank around 24 hours ago

Two, this is not caused by Trump gutting regulations. The cause was interest rate risk- recall people deposit money at banks and they turn around and lend money, in this case in the form of MBS and treasuries. The fed kept interest rates too low for too long and then they hiked rates precipitously, which caused huge losses for the bank on those securities that were purchased when interest rates were much lower

Disagree. Trump gutted Dodd-Frank that would have protected against this.

Dodd-Frank redefined the DEPOSITOR as an unsecured creditor by lawful authority. Bank deposits therefore become the property of the bank and your deposits represent a liability to the bank. Got it? As an unsecured creditor, you stand second-in-line for those funds and the bank's primary creditors get first dibs. Remember the haircuts people in Cyprus and Argentina took?

I swear, you'll throw out any term because you don't want to take the time to understand things.

You're like a parakeet yelling Trump GOP Trump GOP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So there are all of these libertarians etc calling on the Fed/FDIC to basically take over and secure the bank.

Keep in mind, this i only happening because Trump totally gutted regulations that would have prevented this from happening. So we are going to get a massive bailout for Silicon Valley Bank and yet people complain about a few thousand dollars in bailouts for student loans.

For one, the FDIC already took over the bank around 24 hours ago

Two, this is not caused by Trump gutting regulations. The cause was interest rate risk- recall people deposit money at banks and they turn around and lend money, in this case in the form of MBS and treasuries. The fed kept interest rates too low for too long and then they hiked rates precipitously, which caused huge losses for the bank on those securities that were purchased when interest rates were much lower

Disagree. Trump gutted Dodd-Frank that would have protected against this.

Dodd-Frank redefined the DEPOSITOR as an unsecured creditor by lawful authority. Bank deposits therefore become the property of the bank and your deposits represent a liability to the bank. Got it? As an unsecured creditor, you stand second-in-line for those funds and the bank's primary creditors get first dibs. Remember the haircuts people in Cyprus and Argentina took?

I swear, you'll throw out any term because you don't want to take the time to understand things.

You're like a parakeet yelling Trump GOP Trump GOP.

Who is senior to a depositor?

[Anonymous]

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So there are all of these libertarians etc calling on the Fed/FDIC to basically take over and secure the bank.

Keep in mind, this i only happening because Trump totally gutted regulations that would have prevented this from happening. So we are going to get a massive bailout for Silicon Valley Bank and yet people complain about a few thousand dollars in bailouts for student loans.

For one, the FDIC already took over the bank around 24 hours ago

Two, this is not caused by Trump gutting regulations. The cause was interest rate risk- recall people deposit money at banks and they turn around and lend money, in this case in the form of MBS and treasuries. The fed kept interest rates too low for too long and then they hiked rates precipitously, which caused huge losses for the bank on those securities that were purchased when interest rates were much lower

Disagree. Trump gutted Dodd-Frank that would have protected against this.

Dodd-Frank redefined the DEPOSITOR as an unsecured creditor by lawful authority. Bank deposits therefore become the property of the bank and your deposits represent a liability to the bank. Got it? As an unsecured creditor, you stand second-in-line for those funds and the bank's primary creditors get first dibs. Remember the haircuts people in Cyprus and Argentina took?

I swear, you'll throw out any term because you don't want to take the time to understand things.

You're like a parakeet yelling Trump GOP Trump GOP.

The U.S.practices depositor preference.

[Anonymous]

15 banks collapsed under Trump and no one batted an eye. This is the first one under Biden, and it was totally orchestrated by Peter Thiel, who is basically an enemy of the US.