| SVB 18:18 - Mar 12 with 2769 views | Kropotkin123 |
Anyone been following this?
- SVB sold bonds at a loss and said it needed an extra $2b to cover losses.
- Investors took out $42b in one day, causing a run on the bank and its collapse
- Now right wing libertarians and free market capitalists have asked for a bailout
- Centre and left wing commentations have been saying stuff like "Capitlists: We want socialism" and "right wing libertarians: we want government intervention".
- Today the federal government has said no to a bailout
- Don't worry though, everyone got their bonuses in the 24h before the collapse!
I may be missing some stuff, but this is what I've read so far. [Post edited 12 Mar 2023 19:44]
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| SVB on 18:46 - Mar 13 with 535 views | nrb1985 |
| SVB on 13:50 - Mar 13 by StokieBlue |
Frank of the Dodd-Frank reforms was on the board of just collapsed Signature Bank.
SB |
Looooool, yeah just saw that. Incredible.
This is quite the embarrassment for the U.S. Seems the regulator deemed SVB weren't big enough to be systemically important and therefore not subject to same capital requirements as the larger banks. Before promptly bailing out their deposits to prevent a systemic risk to the system...
As you say, I'm sure the investigation will uncover a number of abnormalities. |  | | |
| SVB on 19:09 - Mar 13 with 499 views | BanksterDebtSlave |
| SVB on 18:46 - Mar 13 by nrb1985 |
Looooool, yeah just saw that. Incredible.
This is quite the embarrassment for the U.S. Seems the regulator deemed SVB weren't big enough to be systemically important and therefore not subject to same capital requirements as the larger banks. Before promptly bailing out their deposits to prevent a systemic risk to the system...
As you say, I'm sure the investigation will uncover a number of abnormalities. |
We seem to have to keep giving money to people with lots of it for our own good!!
#robbedagain |  |
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| SVB on 11:02 - Mar 15 with 375 views | nrb1985 |
| SVB on 19:09 - Mar 13 by BanksterDebtSlave |
We seem to have to keep giving money to people with lots of it for our own good!!
#robbedagain |
Same might be about to happen with Credit Suisse.
This could literally be another Lehman moment, albeit almost inconceivable the Swiss government will let them fail.
Wouldn't want to be an equity holder though... | | | |
| SVB on 14:55 - Mar 15 with 308 views | TractorWood |
They have recovered slightly. The timing of publishing their results, which signposted material financial reporting weaknesses was deeply unfortunate. It was compounded by their main Saudi backer saying they won't hypothetically bail it out endlessly. Which is fair enough.
The markets are enormously jittery. Albeit London does look disproportionately, adversely affected given our pretty robust capital requirements. Those with international exposure are taking baths. Old school free market economists piping up for reduce regulation need to be careful.
There are bargains out there if you are brave. Equity investing is not for the easily spooked. |  |
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| SVB on 15:14 - Mar 15 with 275 views | nrb1985 |
| SVB on 14:55 - Mar 15 by TractorWood |
They have recovered slightly. The timing of publishing their results, which signposted material financial reporting weaknesses was deeply unfortunate. It was compounded by their main Saudi backer saying they won't hypothetically bail it out endlessly. Which is fair enough.
The markets are enormously jittery. Albeit London does look disproportionately, adversely affected given our pretty robust capital requirements. Those with international exposure are taking baths. Old school free market economists piping up for reduce regulation need to be careful.
There are bargains out there if you are brave. Equity investing is not for the easily spooked. |
EU banks are better capitalised than their US counterparts but the contagion and counterparty risk if CS gets into trouble is huge.
The Govt bailed out UBS in 08 though so I assume they will step in here too if it looks like it's going to get out of hand. | | | |
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