Crash the train to stop it

[Rajoo]

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

[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.

[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/

[Rajoo]

Originally Posted by whell

...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/

Everyone I know is dependent on technology. The internet, Social Media, EV etc. so I am OK with it. Not to worry, Biden will make it up with a middle class tax cut.

On a serious note, I am not a fan of bailouts at all. But in SVB's case it happened very quickly and a lot of employee payrolls were affected, which is why the $250K (FDIC limit was raised I believe). Waiting to see the final analysis of what and why, or if the bailout was unavoidable.

I will still blame the regional bank on de-regulations because they were put in to avoid such an event and they were removed. Now it will be analyzed why they were removed and how it may have contributed. There are over 5,000 banks in the US and it may be impossible to watch them all. People may now migrate away from small banks and we will see if more go under or will consolidate. Credit Suisse in the news today, 20% down! Are they Woke too, its Switzerland, banking capital of the world!

[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.