And the loss looks like about 2B. The FDIC is 250K per depositor. However looks like the losses are so small ALL deposits will be available Monday.
Nothing burger.
If you go to get money out of your bank and it it not there and you ask why then the police is called and you are arrested
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Nothing burger.
The Right are to patriotic to sell out I have sat in the middle and watched both sides for way to long. Nope both sides will go down … the forcast from that cnn website is doom and gloom i If true the $620 billion dollars is way more then the fdic can handle. It is listed as only 1/2 trillion.
shss in bad times millionaires and billionaires can be made matter of gambling on the right horses. Got any insider trading tips …. ? It is not illegal if you have enough money
shss in bad times millionaires and billionaires can be made matter of gambling on the right horses. Got any insider trading tips …. ? It is not illegal if you have enough money
620B of unrealized losses is about 3% of the assets of the 100 largest banks. What are these assets and do they need to be sold? I am thinking these are interest bearing assets that have lost value due to increasing interest rates. All those 2.5% mortgages held by the bank have naturally lost value due to the rate changes. Is the risk of default rising in this growing economy producing more jobs every month? These assets will naturally run their course and get re-invested at current market rates over time. Normal and ordinary course of business in the banking industry. Even if there are more defaults it will not be everything everywhere and the damage will be far less than the 1/2 trillion reserve.
grizzzman
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Well there is a bank in New York that failed...... Nothing burger right?.............
LeoThomson
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Joint Statement by Treasury, Federal Reserve, and FDIC
Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Cha
www.federalreserve.gov
Investors Wiped Out As Bank Run Causes Collapse Of Silicon Valley Bank
By midday Friday, the regulators had closed SVB down and they had officially collapsed.
www.forbes.com
Silicon Valley Bank is a very American mess
The rules work! They just weren’t applied to SVB Financial
www.ft.com
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LeoThomson
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FDIC: Failed Bank Information for Signature Bank, New York, NY
FDIC: Failed Bank Information for Signature Bank, New York, NY
www.fdic.gov
Bail-ins is what should have happened with Silicon Valley and Signature. But that's not what actually happened. Instead, as has been widely reported, ALL depositors will be made whole.
So, while I fully understand and accept the fact that on paper Bail-ins are a genuine concern, in practice it's not happening. Instead, new bail-out frameworks are being created so that no depositors lose out.
That said, it begs the question what's the point of having FDIC insurance limits (i.e. $250k) if the moment a bank fails everyone scrambles to circumnavigate the rules and bail out uninsured depositors anyway? Farcical.
Furthermore, the FDIC couldn't protect all insured depositors if multiple banks failed in quick succession. They simply couldn't cover it all. In short, it's all a confidence trick. Just like depositing your money at a bank and fiat currency in general. It's all about confidence. And the instant confidence is lost, it's game over. It will be bank runs galore. At that point, the Gov / Fed will have two choices: 1) Let the banks collapse and watch as the financial system collapses or 2) Backstop every deposit in full. The latter would mean printing to infinity and beyond and would, therefore, result in a hyperinflationary collapse.
So, while I fully understand and accept the fact that on paper Bail-ins are a genuine concern, in practice it's not happening. Instead, new bail-out frameworks are being created so that no depositors lose out.
That said, it begs the question what's the point of having FDIC insurance limits (i.e. $250k) if the moment a bank fails everyone scrambles to circumnavigate the rules and bail out uninsured depositors anyway? Farcical.
Furthermore, the FDIC couldn't protect all insured depositors if multiple banks failed in quick succession. They simply couldn't cover it all. In short, it's all a confidence trick. Just like depositing your money at a bank and fiat currency in general. It's all about confidence. And the instant confidence is lost, it's game over. It will be bank runs galore. At that point, the Gov / Fed will have two choices: 1) Let the banks collapse and watch as the financial system collapses or 2) Backstop every deposit in full. The latter would mean printing to infinity and beyond and would, therefore, result in a hyperinflationary collapse.
LeoThomson
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The idea is to protect the little guys who do not have the resources bigger guys have. The big guys are the ones pushing to lower regulation of the banks, which means increased profits for them but the risks are being born by the tax payer.
LeoThomson
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They did though.
FDIC | Failed Bank List
Look up information on failed banks, including how your accounts and loans are affected and how vendors can file claims against receivership.
www.fdic.gov
Where did you see that?
"After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13."
grizzzman
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What I find entrusting is that in October 2019 there was a war game called "Event 201" it was how to deal with a pandemic. In December of 2022 in Davos the World Economic Forum ( The people who put on Event 201) war gamed "Banking Collapse". Coincidence? perhaps. If it looks like a duck, walks like a duck smells like a duck...........
I thought it interesting: listening to this woman describe how she was warned and went lowered her money to the $250,000 protection. She didn’t take all of it but down to the $250,000 limit. ‘’She was incredibly lucky.”
www.cnn.com
Watch: CEO describes pulling money from bank hours before collapse | CNN Business
Alison Greenberg, CEO of Ruth Health, describes to CNN's Erin Burnett what it was like to urgently withdraw money from Silicon Valley Bank before it collapsed.
www.cnn.com
Too bad some of the banking regulation were loosened up under the Trump administration. First the railroads, now this. What is next?
https://www.nbcnews.com/politics/co...ew-spotlight-2018-bank-deregulation-rcna74655
Is this what is meant by "MAGA"?
https://www.nbcnews.com/politics/co...ew-spotlight-2018-bank-deregulation-rcna74655
Is this what is meant by "MAGA"?
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This is a piss poor attempt to blame Trump. If anything, he is just another link in the chain that started before Trump was running around in diaper.
Start here
Century of Enslavement: The History of The Federal Reserve | The Corbett Report
www.corbettreport.com
It is humorous watching all the talking heads and politicians rushing to reassure the public that thee will be no serious problem. They have to say everything is OK . If they didn't the potential panic could precipitate a conflagration. Bank runs are not just a history lesson. It will be interesting if it cause the Feds to pause their rate hikes
Let’s see how long did Biden have both the house and Senate? Why did he and both house and senate wait to fix it? What was the malfunction perform “sports” and move on for the blame game.
interesting person you used to present as Trump and Elon Musk pointed out she should have been in trouble for lying…… about her Indian blood to get a former job. I mosquito bite and it is gone. Trump trump trump again from about day 1 Biden and his team undid ever EO from trump except bump stocks and few others ….. they had both house and senate why not change the rules back? You know why. Blame game now. ?
i don’t really care because am not maga just my view…. About like Trump had both house and senate republicans during his first years which were noted as hostile towards him unlike biden which had democrat both and they were working with him. So ….. trump trump trump hahaha so obvious
did you vote for biden? I voted for neither one.
The real reason think we will see is the push towards Biden’s digital money Even Elon Musk would approve. I do remember elon musk talking great things about bitcoin and the like. Ppl then tried to purchase a tesla with bitcoin and were told no. Hmmmm that was the reports.
if they are given the complete control over digital currency then several freedoms will be lost…. Making your own decisions for how and when you spend your monies will not be your own and they will have 100% access to your wealth to use as their own
if they are given the complete control over digital currency then several freedoms will be lost…. Making your own decisions for how and when you spend your monies will not be your own and they will have 100% access to your wealth to use as their own
