Json
Superstar
Yeah but if these companies can’t make payrolls then the normal banks might not yet theit mortgage payments or car payments so there will definitely be some aftershocks.
People already out here living paycheck to paycheck.
FDIC shuts down Silicon Valley Bank, crash incoming? Update: 2nd bank, Signature Bank in NY closed
- Thread starter Paper Boi
- Start date
People already out here living paycheck to paycheck.
Rembrandt
the artist
And they have made sure that's not happening again anytime soon. They have enough reserves and whatnot to sustain a sizable bank run, along with a lot of oir main ones now; and if it gets to that point, we're basically fukked anyways.
These tech companies needed $ and borrowed from a bank that lends $ to tech companies and startups.
But the agreement with this bank is that whatever cash you bring in/revenue, you gotta put that shyt in THEIR bank.
They’ve been doing this for 40 years.
Now they’re lending out $ all willy nilly and the economy is trash. The bank needs to even out its balance sheet — show that they have the $ or assets to even be in fukkin business as a bank. And this bank needed/needs 2 fukkin billion and they ain’t got it
So the feds have officially crowned them as
status. News of that is tanking their stock to a point where trading on it has been halted because it impacts the rest of the market — and folks are nervous. Who knows what other banks are flabby.Now this bank still has some cash on hand and these same tech firms that have their savings there want their damn money by Monday like 50 Cent LOL. And the bank has one location in NY so some of these tech bros pulled up to get their $ because let’s just say everybody’s $ ain’t in there. So pull up first and get your $ before the shytshow really starts.
Short story short is SVB is looking for a life line and the big boys in banking are just watching like
and waiting to see what emerges since that stock is at crack prices.
LMAOOO one last ride is what that was.
Someone hit a lick on their way out because when you know, you KNOW
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breh doesn't realise the banks are solvent based on future income, credit worthiness and near-term access to credit markets to tide them over today.
in other words most banks are illiquid and/or insolvent today. hence why bank runs are so dangerous.
as for "systems to protect"
breh missed 2008 when the systems failed and banks were directly bailed out / purchased (breaking EU law) and put on life support QE/discount window lending since then in a once in a lifetime possible move to stop people taking their money out.breh thinks that in a high-inflationary scenario like we have now banks can print money like that again
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it's also a great way to tip banks into insolvency ...
FDIC should offer them 250k or dinner with Jay-ZOnly 2.7% of them accounts can be saved by the feds. The rest they’ll probably get 250k but anything more its gone.
I mean if someone had a million or more and they get only 250K I guess its cool?
JoelB
All Praise To TMH
breh doesn't realise the banks are solvent based on future income, credit worthiness and near-term access to credit markets to tide them over today.
in other words most banks are illiquid and/or insolvent today. hence why bank runs are so dangerous.
as for "systems to protect"
breh thinks that in a high-inflationary scenario like we have now banks can print money like that again
I’m glad to see there’s someone in this thread that knows what they’re talking about.
StretfordRed
Afro-European
I worked for these guys.
Still got all their corporate stuff at home. Can’t even rock the North Face stuff they gave me smh.
I still got people working there in US and UK. That was the reason I was last in the US. All the best to them but I could smell something was fishy and bailed out during COVID.
Still got all their corporate stuff at home. Can’t even rock the North Face stuff they gave me smh.
I still got people working there in US and UK. That was the reason I was last in the US. All the best to them but I could smell something was fishy and bailed out during COVID.
What was the old percentage?
