SVB Bank Run: Fed Calling Emergency Meeting

[Anonymous]

Wow, SVB paid out 2022 bonuses on Friday morning, just hours before seizure by the FDIC. Unreal.

https://www.nbcnews.com/news/amp/rcna74508

[Anonymous]

Lmao didn't Oprah, Harry and Megan have their money in this bank?

[Anonymous]

Anonymous wrote:Lmao didn't Oprah, Harry and Megan have their money in this bank?

It's on twitter for what it's worth. Oprah said to have $590 million with the bank and millions for M and H too. It seems it was the bank of choice for the Hollywood elite.

[Anonymous]

Not. A. Bailout.

So many ideologues angry on Twitter at Bill Ackmanm and the federal government. Bigly mad and triggered.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Serious question … how does this affect most Americans, not your DCUM types? Will they realize that anything happened?

Well if their pay check doesn't land....

Do most Americans work for the affected companies? I don’t think so. I understand that Patriot Systems(s) provides payroll services for other companies but it doesn’t actually hold the money of those companies. Seems like there could be a blip in the system for some folks but it seems like these two bank closures will go unnoticed by many.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Serious question … how does this affect most Americans, not your DCUM types? Will they realize that anything happened?

Yes, regular people are not getting their paychecks, because their company uses SVB or their small company outsourced accounting services to bigger firms that had the money in SVB. For a regular person, it can mean no paycheck.

The following question is whether that is a significant number or not. If it is small, the US burps, excuses itself and moves on.

My brother who is usually on top of the news hadn’t heard about any of this until I told him this evening. It got me thinking that people aren’t paying g attention.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lmao didn't Oprah, Harry and Megan have their money in this bank?

It's on twitter for what it's worth. Oprah said to have $590 million with the bank and millions for M and H too. It seems it was the bank of choice for the Hollywood elite.

Oprah is loved and people will be sympathetic. h&M critics will skewer them. Ugh.

[Anonymous]

Jerome Powell was an absolute dove under Trump and did nothing but print free money all the live long day and the second Biden is in he’s raising rates like an addict at a slots machine. Biden should NEVER have kept him in place, he has an agenda to prop up Republicans and it’s working.

[Anonymous]

What role did the Comptroller of the Currency have in this failure? I am a newbie and thinking about a job yhere.

[Anonymous]

Anonymous wrote:What role did the Comptroller of the Currency have in this failure? I am a newbie and thinking about a job yhere.

None. Neither SVB nor Signature was a national bank, the bank charter type the OCC oversees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What role did the Comptroller of the Currency have in this failure? I am a newbie and thinking about a job yhere.

None. Neither SVB nor Signature was a national bank, the bank charter type the OCC oversees.

Thank you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:lol. what a total disaster. so basically today the feds announced that the $250k limit doesn't actually exist and the entirety of monies on deposit in the US are guaranteed by the feds.

Biden is an idiot for allowing this. If the GOP was not an insane party right now I would not vote for Biden again.

No, other banks bailed out the depositors, not taxpayers. As it should be. Maybe they'll all take risk a little more seriously.

I'm just an average American who doesn't really understand what's happening. Please help me understand. The $250k limit doesn't apply; all deposits are covered. Who is covering the amounts over $250K? And why shouldn't I feel like it's a "bailout" that protects rich bank execs?

[Anonymous]

Nothing to see here... all is well!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:lol. what a total disaster. so basically today the feds announced that the $250k limit doesn't actually exist and the entirety of monies on deposit in the US are guaranteed by the feds.

Biden is an idiot for allowing this. If the GOP was not an insane party right now I would not vote for Biden again.

No, other banks bailed out the depositors, not taxpayers. As it should be. Maybe they'll all take risk a little more seriously.

I'm just an average American who doesn't really understand what's happening. Please help me understand. The $250k limit doesn't apply; all deposits are covered. Who is covering the amounts over $250K? And why shouldn't I feel like it's a "bailout" that protects rich bank execs?

Most of the amount over $250k will be covered by SVB's assets. The rest will be paid via a levy on the banks still standing.

I wouldn't say it's a bailout for rich bank execs. More like a bailout for rich depositers.

[Anonymous]

Anonymous wrote:Jerome Powell was an absolute dove under Trump and did nothing but print free money all the live long day and the second Biden is in he’s raising rates like an addict at a slots machine. Biden should NEVER have kept him in place, he has an agenda to prop up Republicans and it’s working.

No, not the second Biden is in.
He actually waited too long.
Inflation wasn't an issue under Trump. It is a huge issue under Biden.
#FACTS