FDIC shuts down Silicon Valley Bank, crash incoming? Update: 2nd bank, Signature Bank in NY closed
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Yagirlcheatinonus
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Live paycheck to paycheck ass nikkas
I don’t even know when my payday is
I don’t even know when my payday is
FukkaPaidEmail
Retired Hoodrat whisperer
This is A great way to start unnecessary panic.
Regional tech bro bank fails…unrelated banks stock price tank ,smart money Wall Street ppl pick up the scraps
Some start ups will fail but those that are legit will get swallowed at a discount by bigger tech companies
this didn’t take ppl by surprise …Circle stopped honoring ACH transactions a week ago..if you could’ve connected the circle and SVB connection you’d be rolling in $$$$ (wish I could’ve saw that
)
rich get richer
Regional tech bro bank fails…unrelated banks stock price tank ,smart money Wall Street ppl pick up the scraps
Some start ups will fail but those that are legit will get swallowed at a discount by bigger tech companies
this didn’t take ppl by surprise …Circle stopped honoring ACH transactions a week ago..if you could’ve connected the circle and SVB connection you’d be rolling in $$$$ (wish I could’ve saw that
)rich get richer
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sayyestothis
Free the guys
If it's joint that's 500k coverage. If it's joint with a beneficiary that's 750k fdic coverage. If it's in a separate llc that's a separate 250k coverage...
Lots of ways to structure deposit protection as it's by related individual persons per bank.
Hater Eraser
Veteran
Cakebatter
All Star
0%, 3%, and 10% depending on the size of the Bank. SVB would have been in the 10% bracket.
Json
Superstar
5% in a year with months between and giving the market a heads up of rate increases incoming.
That‘s not getting caught. That’s hubris or stupidity
Json
Superstar
Y’all nigs too good to work on a Saturday? This is an emergency!
with this crypto bullshyt leaking into the real financial system, regulators might have to start cracking down. This bank going down won't spread to the wider economy but it surely won't help with the lack of confidence some people have in the system.
This is A great way to start unnecessary panic.
Regional tech bro bank fails…unrelated banks stock price tank ,smart money Wall Street ppl pick up the scraps
Some start ups will fail but those that are legit will get swallowed at a discount by bigger tech companies
this didn’t take ppl by surprise …Circle stopped honoring ACH transactions a week ago..if you could’ve connected the circle and SVB connection you’d be rolling in $$$$ (wish I could’ve saw that
rich get richer
billions in shareholder value was wiped out. who knows how many institutions or retail investors used $SIVB as collateral.
look at the insitutions who owned the stock.
IIVI
Superstar
A lot of people who went into tech demanding high salaries with very little formal education. It definitely flooded the market, asking for more and more money that nobody had.
I'd say that one study about people leaving their jobs every two years making 50% more than somebody who stays at their job for 10 years has plenty to do with this problem as well: cats kept jumping jobs for salary raises.
Now companies have to narrow the scope and be more selective with who they hire and who they pay big. This is why it's so vital to have your degree and any other relevant pieces of information. It's no different from other jobs.
I have a feeling the jobs left now and the higher-paying job listings will be for those with the degree filter first and foremost.
They definitely jumped in trying to get that shortcut, which is what lead to bootcamps which then people started to say screw bootcamps altogether and watched a few youtube videos thinking they can do the work.
This is all going to resort to a reset back to skilled documentation or those with lengthy work experience (those who have stuck with a company over two years) earning the big dollars once again imo.
I'd say that one study about people leaving their jobs every two years making 50% more than somebody who stays at their job for 10 years has plenty to do with this problem as well: cats kept jumping jobs for salary raises.
Now companies have to narrow the scope and be more selective with who they hire and who they pay big. This is why it's so vital to have your degree and any other relevant pieces of information. It's no different from other jobs.
I have a feeling the jobs left now and the higher-paying job listings will be for those with the degree filter first and foremost.
They definitely jumped in trying to get that shortcut, which is what lead to bootcamps which then people started to say screw bootcamps altogether and watched a few youtube videos thinking they can do the work.
This is all going to resort to a reset back to skilled documentation or those with lengthy work experience (those who have stuck with a company over two years) earning the big dollars once again imo.
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We have to assume big money got their cash out
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 asstatus. 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 likeand waiting to see what emerges since that stock is at crack prices.
