FDIC shuts down Silicon Valley Bank, crash incoming? Update: 2nd bank, Signature Bank in NY closed

[Black Mamba]

If the feds are moving in, that’s a good thing. Thread title is bait

Only 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?

 

[Atlrocafella]

Hopefully not, but these runs can spread. People are irrational. Bank stocks are getting murdered right now because everybody is wondering what’s under the kimono of other banks in light of interest rates.

Trust me I know. I’ve worked in banking (Wells Fargo) for over 10 years. The situation in 2008 is much more different than it is now. The big 3 have reserves to withstand the harshest environment.

 

[Black Mamba]

Apparently he was telling them everything was gucci too

 

[Wepa Man]

looks like a computer glitch

computer glitch

 

[Wiseborn]

That’s the problem with SIV, 95% of the accounts were more than 250k. All of their long term investments (using account holders money) became trash once interest rates started going up quickly. Nobody wants to be the last fool to ask for their money in a bank run.

True but that's on them. I guess keeping extra money in the accounts was bribes for eventual loans.

 

[beenz]

this is not even a major bank. and we already know that the gov't would NEVER allow one the major banks to fail. we saw this in 2008 when the bailouts came.

 

[Jean toomer]

Apparently he was telling them everything was gucci too

Actually the note he put out caused the run…people were like this ain’t adding up

Nasty work.

 

[Tair]

Apparently he was telling them everything was gucci too

shyt always ends the same.

 

[Black Mamba]

 

[MrLogic]

Explain this to me in Coli nikka terms

 

[Atlrocafella]

this is not even a major bank. and we already know that the gov't would NEVER allow one the major banks to fail. we saw this in 2008 when the bailouts came.

 

[boriquaking]

Only 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?

One regional bank is not an indicator of a national financial collapse.

And shyt, that’s those peoples problem if the funds are seized, but it sounds like the issue is with the bank itself. Until Monday rolls around it’s all just speculation.

Insured up to $250k? That’s any bank in the country. Smart people? Don’t keep more than $250k in one account, or keep your money in a bank account in the Bahamas or Switzerland.

I will also say, I believe these people can purchase 3rd party insurance for accounts that high, but I may be mistaken

 

[beenz]

Apparently he was telling them everything was gucci too

that kinda shyt wreaks of insider trading.

 

[Black Mamba]

One regional bank is not an indicator of a national financial collapse.

And shyt, that’s those peoples problem if the funds are seized, but it sounds like the issue is with the bank itself. Until Monday rolls around it’s all just speculation.

Insured up to $250k? That’s any bank in the country. Smart people? Don’t keep more than $250k in one account, or keep your money in a bank account in the Bahamas or Switzerland.

I will also say, I believe these people can purchase 3rd party insurance for accounts that high, but I may be mistaken

Well looks like as of now 97% of them weren’t smart enough to do it.
We shall see Monday

 

[Seoul Gleou]

dawg, 2 years ago they was laughing at us bears

look at gawd

these cacs about to commit that and FDIC is looking funny in the light...again