Crash the train to stop it

[finnbow]

Originally Posted by whell

You also said that there was merit to the article Chicks posted which blamed Trump, Republicans and deregulation for SVB's failure.

You also said, when challenged on the above, in a second post: "There's a great deal of truth to Chick's assertion".

You also said "And the simple fact remains that SVB successfully lobbied to roll back Dodd-Frank provisions to reduce both oversight (e.g., "stress testing") and capital requirements on regional banks …

As I said ( and you cropped), there is a great deal more truth to that article than there is to the DeSantis claim of wokeness being the cause. And yes, SVB did indeed lobby to reduce oversight and capital requirements.

The length of your response, along with its reflexive defensiveness, once again shows that you are on the losing end of this argument. Take the loss and move on, man.

[Rajoo]

Whell, I think you should get a job with Faux. You have a natural talent for spewing irreverent nonsense.

[whell]

Originally Posted by finnbow

The length of your response, along with its reflexive defensiveness, once again shows that you are on the losing end of this argument. Take the loss and move on, man.

Evade, deny and then declare yourself the winner. LOL! Typical Finn.

[whell]

Originally Posted by Rajoo

Whell, I think you should get a job with Faux. You have a natural talent for spewing irreverent nonsense.

Let's see. I've provided source information from Marketwatch, Wall Street Journal, and NY Times in this thread. I've added links to US Treasury notices and links to relevant banking law text. This you call "irrelevant nonsense"?

You make a reference to Fox News. I've sourced nothing in this thread from Fox.

I've asked for specificity to substantiate your (collective) claims that "Trump did it" or "Republican deregulation did it." I've gotten nothing in return except statements that I'm on the "losing end" of this argument and that I'm posting "irrelevant nonsense".

Just another typical day on Political Chat.

[Rajoo]

Originally Posted by whell

Let's see. I've provided source information from Marketwatch, Wall Street Journal, and NY Times in this thread. I've added links to US Treasury notices and links to relevant banking law text. This you call "irrelevant nonsense"?

You make a reference to Fox News. I've sourced nothing in this thread from Fox.

I've asked for specificity to substantiate your (collective) claims that "Trump did it" or "Republican deregulation did it." I've gotten nothing in return except statements that I'm on the "losing end" of this argument and that I'm posting "irrelevant nonsense".

Just another typical day on Political Chat.

No one yet really knows why SVB failed, not the details of the fall but the reason. Deregulation has played a part whether you want to admit this or not. Heck, its something the SVB president himself lobbied for. And Barney Frank for Signature Bank and got paid handsomely for his lobbying and this really really bothers me.

But after the 2008 collapse of our financial system, why was it deregulated? So yes, the Trump administration does bear some responsibility for relaxing the regulations.

I believe the details will come sooner or later after the dust settles.
Until then, I will continue to blame Trump.
And let Nancy follow the money.

[Oerets]

Talk about timing.....


https://www.pbs.org/wgbh/frontline/d...of-easy-money/

Age of Easy Money


""Around the country and across the world, the threat of a recession is looming and economic uncertainty is rising as markets, businesses and individuals adjust to a new reality: the Federal Reserve is raising interest rates and pulling back on its epic monetary experiment that started with the Great Financial Crisis.""


On tonight on my local PBS station. Check you local stations for time and date.

[nailer]

Originally Posted by Rajoo

No one yet really knows why SVB failed, not the details of the fall but the reason. Deregulation has played a part whether you want to admit this or not. Heck, its something the SVB president himself lobbied for. And Barney Frank for Signature Bank and got paid handsomely for his lobbying and this really really bothers me.

But after the 2008 collapse of our financial system, why was it deregulated? So yes, the Trump administration does bear some responsibility for relaxing the regulations.

I believe the details will come sooner or later after the dust settles.
Until then, I will continue to blame Trump.
And let Nancy follow the money.

SVB failed because it was no longer competitive in today's market. Why a run on this bank and which will be the next weakling to go belly-up?

[Rajoo]

Originally Posted by nailer

SVB failed because it was no longer competitive in today's market. Why a run on this bank and which will be the next weakling to go belly-up?

Next one to go belly up was Signature Bank in NY and it seems Zions now is under a lot of pressure.

Lot of the tech companies used this bank with Millions in deposit. Roku (walking distance from us) for one I am told had around $400 Million with SVB and so did a lot of startups.

[whell]

Originally Posted by Rajoo

Next one to go belly up was Signature Bank in NY and it seems Zions now is under a lot of pressure.

Lot of the tech companies used this bank with Millions in deposit. Roku (walking distance from us) for one I am told had around $400 Million with SVB and so did a lot of startups.

...and those big tech companies and millionaires are the ones that taxpayers will get stuck with the bill for bailing out once again.

Here's one of those beneficiaries, Mr Hair Gel: https://theintercept.com/2023/03/14/...-hes-a-client/

[Dondilion]

Originally Posted by nailer

SVB failed because it was no longer competitive in today's market. Why a run on this bank and which will be the next weakling to go belly-up?

Yeah! It could not compete with 5% after putting itself in jail with long term 2% assets.