Anonymous
03/18/2023 20:22
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Not sure many around here would do well in the world that would exist in the absence of bailouts.
“Around here?” WT ever loving F are you talking abt? Babe, you won’t survive a banking crisis either. IDGAF if you are a farmer, a marksman, a mountain climber…whatever libertarian BS you believe. Every single person in this country would be F’ed if our entire banking system went down. Give me a break …. You’re not a big strong man
I lived through 08-09 front and center. There was no credit - the system froze. But we chose to bail out the banks not consumers or small business owners. And that has had disastrous results. Income equality, political divisiveness, a coup.
So having experienced that why should we continue to bail out the financial services industry ? I watched the US pay Goldman Sachs 100 cents on the dollar - par - for their credit default swaps with AIG. Why did Geithner tell us we had to foam the runway for 10 Million foreclosures ?
So tell me again why we have to bail them out ? And when we do and I sit in front of them they tell me they can’t help me because that would be moral hazard like they did in 08 and 09 ?
All the while my AIG neighbors were getting bonuses and putting in pools ?
Sure as hell felt like Armageddon for us regular folk…so really not interested in the nonsense that we can’t afford to not bail them out.
Let them eat cake.
The AIG bailout is little investigated, and remains shrouded in mystery but many think it had to do with saving the European banking system.
I did not know that.
I always though GS getting par for their AIG swaps was a back door bailout to GS that gave GS the ability to say they weren’t bailed out and didn’t have to take Government money.
Anonymous
03/18/2023 18:57
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
Feel for the team at KPMG that audited SVB and issued in February. Imagine doing those long nights before issuance and being told now that you messed up. Gives me very unpleasant flashbacks
Anonymous
03/18/2023 18:51
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Anonymous wrote:Anonymous wrote:Not sure many around here would do well in the world that would exist in the absence of bailouts.
“Around here?” WT ever loving F are you talking abt? Babe, you won’t survive a banking crisis either. IDGAF if you are a farmer, a marksman, a mountain climber…whatever libertarian BS you believe. Every single person in this country would be F’ed if our entire banking system went down. Give me a break …. You’re not a big strong man
I lived through 08-09 front and center. There was no credit - the system froze. But we chose to bail out the banks not consumers or small business owners. And that has had disastrous results. Income equality, political divisiveness, a coup.
So having experienced that why should we continue to bail out the financial services industry ? I watched the US pay Goldman Sachs 100 cents on the dollar - par - for their credit default swaps with AIG. Why did Geithner tell us we had to foam the runway for 10 Million foreclosures ?
So tell me again why we have to bail them out ? And when we do and I sit in front of them they tell me they can’t help me because that would be moral hazard like they did in 08 and 09 ?
All the while my AIG neighbors were getting bonuses and putting in pools ?
Sure as hell felt like Armageddon for us regular folk…so really not interested in the nonsense that we can’t afford to not bail them out.
Let them eat cake.
The AIG bailout is little investigated, and remains shrouded in mystery but many think it had to do with saving the European banking system.
Anonymous
03/18/2023 18:40
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
It was so kind of the other banks to step in and save First Republic!
Anonymous
03/18/2023 18:33
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Anonymous wrote:Not sure many around here would do well in the world that would exist in the absence of bailouts.
“Around here?” WT ever loving F are you talking abt? Babe, you won’t survive a banking crisis either. IDGAF if you are a farmer, a marksman, a mountain climber…whatever libertarian BS you believe. Every single person in this country would be F’ed if our entire banking system went down. Give me a break …. You’re not a big strong man
I lived through 08-09 front and center. There was no credit - the system froze. But we chose to bail out the banks not consumers or small business owners. And that has had disastrous results. Income equality, political divisiveness, a coup.
So having experienced that why should we continue to bail out the financial services industry ? I watched the US pay Goldman Sachs 100 cents on the dollar - par - for their credit default swaps with AIG. Why did Geithner tell us we had to foam the runway for 10 Million foreclosures ?
So tell me again why we have to bail them out ? And when we do and I sit in front of them they tell me they can’t help me because that would be moral hazard like they did in 08 and 09 ?
All the while my AIG neighbors were getting bonuses and putting in pools ?
Sure as hell felt like Armageddon for us regular folk…so really not interested in the nonsense that we can’t afford to not bail them out.
Let them eat cake.
Anonymous
Anonymous
03/18/2023 18:10
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Anonymous wrote:Not sure many around here would do well in the world that would exist in the absence of bailouts.
“Around here?” WT ever loving F are you talking abt? Babe, you won’t survive a banking crisis either. IDGAF if you are a farmer, a marksman, a mountain climber…whatever libertarian BS you believe. Every single person in this country would be F’ed if our entire banking system went down. Give me a break …. You’re not a big strong man
So thumbs up to hitting the tax payer again for other people's screwups.
It's a lie that tax payers won't foot the bill and anyone with two brain cells to rub together knows it. We're all being sold into slavery by Washington.
Anonymous
03/18/2023 14:25
Subject: SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:For the first time the fed acted quickly and decisively to prevent a banking panic and conservatives are still mad. It almost like they want a depression
Not all who are mad are conservatives.
And DCUM is, as I expected, utterly foolish about the specifics. It’s darkly comic to think of how surprised those same people are when the political system gets weird (eg 2016- present). We live in interesting times!
Anonymous
03/18/2023 14:20
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Not sure many around here would do well in the world that would exist in the absence of bailouts.
Smart people are worried that they look really, really bad. If market discipline is this much of a joke, expect the political system to get much more volatile.
Anonymous
03/18/2023 13:18
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Not sure many around here would do well in the world that would exist in the absence of bailouts.
“Around here?” WT ever loving F are you talking abt? Babe, you won’t survive a banking crisis either. IDGAF if you are a farmer, a marksman, a mountain climber…whatever libertarian BS you believe. Every single person in this country would be F’ed if our entire banking system went down. Give me a break …. You’re not a big strong man
Anonymous
03/18/2023 13:07
Subject: SVB Bank Run: Fed Calling Emergency Meeting
For the first time the fed acted quickly and decisively to prevent a banking panic and conservatives are still mad. It almost like they want a depression
Anonymous
03/18/2023 12:55
Subject: SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anyone here care to disabuse me of the idea that the Fed’s new Bank Term Funding Program is a bailout. Cheap credit for the *face value* of treasury and agency collateral!
It's a bail out. Regardless of what they say.
Good. “Bailouts” preserve hundreds of thousands of jobs.
Wrong.
The fed prints dollars, not prosperity.
If the fed bails them out, any reason why taxpayers should have to repay that? It's banks bailing out themselves, after all.
Because of fractional banking. It's how it all works. That's why they shouldn't bail them out.
Read The Creature From Jeykll Island.
Anonymous
03/18/2023 12:52
Subject: SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anyone here care to disabuse me of the idea that the Fed’s new Bank Term Funding Program is a bailout. Cheap credit for the *face value* of treasury and agency collateral!
It's a bail out. Regardless of what they say.
Good. “Bailouts” preserve hundreds of thousands of jobs.
Wrong.
The fed prints dollars, not prosperity.
If the fed bails them out, any reason why taxpayers should have to repay that? It's banks bailing out themselves, after all.
Anonymous
03/18/2023 12:49
Subject: SVB Bank Run: Fed Calling Emergency Meeting
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anyone here care to disabuse me of the idea that the Fed’s new Bank Term Funding Program is a bailout. Cheap credit for the *face value* of treasury and agency collateral!
It's a bail out. Regardless of what they say.
Good. “Bailouts” preserve hundreds of thousands of jobs.
Wrong.
The fed prints dollars, not prosperity.
Anonymous
03/18/2023 10:51
Subject: Re:SVB Bank Run: Fed Calling Emergency Meeting
Not sure many around here would do well in the world that would exist in the absence of bailouts.