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Political Discussion
Reply to "SVB Bank Run: Fed Calling Emergency Meeting "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]More banks than SVB are failing * FIRST REPUBLIC BANK HALTED FOR VOLATILITY, DOWN 65% * PACWEST HALTED FOR VOLATILITY; DROPPED 41% TO LOWEST ON RECORD * REGIONS HALTED FOR VOLATILITY AFTER PARING 31% DROP TO 20% * WESTERN ALLIANCE SINKS A RECORD 76%; HALTED FOR VOLATILITY[/quote] [twitter]https://twitter.com/byHeatherLong/status/1635639661031768067[/twitter][/quote] Bad management didn’t just happen at SVB. After a loooooooong period of ZIRP, the financial savy at many banks had been completely marginalized and lazy management has reigned. A balance sheet full of long maturity assets, even high-quality ones, basically guarantees pain when rates eventually rise.[/quote] Yep there’s “systemic” problems. Also saw headlines that credit card delinquency is up. And layoffs announced in tech. Ships going down. [/quote]
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