Not a very United party
FDIC shuts down Silicon Valley Bank, crash incoming? Update: 2nd bank, Signature Bank in NY closed
- Thread starter Paper Boi
- Start date
Not a very United party
DrBanneker
Space is the Place
jilla82
Veteran
its crazy when you know a lot about a subject and see politicians speak on it.
this is a straight up lie.
these folks are wild.
this is a straight up lie.
these folks are wild.
wheres the lie?
yesterday silicon valley bank just said they don't have an insurance cap on deposits.
Last edited:
jilla82
Veteran
crypto has ZERO to do with it.
it was a mismanaged bank, fractional reserve banking and interest rates.
tech startups that needed to make payroll.
SVB Financial files for Chapter 11 bankruptcy with about $2.2 billion of liquidity
SVB Financial Group said Friday it has filed for Chapter 11 bankruptcy in New York and will seek a court-supervised reorganization.
www.marketwatch.com
Ohio teachers retirement fund takes massive hit in Silicon Valley Bank collapse
Retirement funds for public workers in Ohio lost millions after the Silicon Valley Bank collapsed last week, sending the tech and bank industries into a spiral. The Columbus Dispatch reported that …
thehill.com
Ohio teachers retirement fund takes massive hit in Silicon Valley Bank collapse
BY LAUREN SFORZA - 03/16/23 4:00 PM ET
UPI Photo
A motorist passes the entrance of the Silicon Valley Bank in Santa Clara, Calif., on Saturday, March 11, 2023. On March 10, the FDIC took over the bank after it collapsed.
Retirement funds for public workers in Ohio lost millions after the Silicon Valley Bank collapsed last week, sending the tech and bank industries into a spiral.
The Columbus Dispatch reported that Ohio’s State Teachers Retirement System took the hardest hit amid the banking crisis. Before the shutdown, the system had shares invested in Silicon Valley Bank worth $27.2 million that made up about 0.3 percent of the system’s total fund, Ohio’s State Teachers Retirement System said in a statement.
The Dispatch reported that the Ohio Public Employees Retirement System had shares that were worth $3.2 million and also shares in Signature Bank worth $2.2 million. The report added that the combined losses only made up 0.0058 percent of the system’s entire portfolio.
Trump weighs in on proposed golf ball limitations: ‘What a mess’Education secretary stresses opposition to bans on books, topics after DeSantis moves
The Ohio Police and Fire Fund said on Monday that it did not have direct investments in either Silicon Valley Bank or Signature Bank, which was also shut down over the weekend.
The School Employees Retirement System of Ohio was also affected by bank closures, losing about $929,000 worth of shares in Silicon Valley Bank and $636,983 worth of shares in Signature Bank. The system noted in a press release that the shares lost made up 0.01 percent of its $17 billion fund.
Multiple federal agencies are investigating the collapse of Silicon Valley Bank, which federal regulators took over on Friday. These probes could lead to increased scrutiny of the rest of the banking industry as some lawmakers demand answers and action with regards to banking regulation in the wake of the bank’s failure.
jilla82
Veteran
some of these banks don't have enough liquidity but many believe they they are actually insolvent. it's basically unprecedented how 10 major banks loaned money to First Republic bank so they wouldn't fail which would have made disastrous ripples across the banking industry.
Last edited: