Silicon Valley Bank

[ZipZap]

Anybody here get toasted?

My bank holdings took a beating...

[sublime1996525]

slo?

[Bill]

Diversity checks out.

[MadInNc]

Silicon Valley Bank collapses after failing to raise capital

https://edition.cnn.com/2023/03/10/investing/svb-bank


44% of U.S. venture-backed technology and healthcare IPOs YTD bank with SVB.*
*Based on PitchBook and NVCA data


Thats goin leave a mark out in California.

[Louie Detroit]

Originally Posted by bill_daniels

Diversity checks out.

Perversity checks out.

Fixt

[Mike Mercury]

https://edition.cnn.com/2023/03/10/investing/svb-bank

“Everyone on Wall Street knew that the Fed’s rate-hiking campaign would eventually break something, and right now that is taking down small banks,” Moya said.

While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC.

It’s the largest lender to fail since Washington Mutual collapsed in 2008.

[ZipZap]

Originally Posted by Mike Mercury

https://edition.cnn.com/2023/03/10/investing/svb-bank

There are tons of holdings still out there in long-term bonds. The banks just don't yet show them on reports other than using the book value. They are likely to get hammered come sales time.

https://www.youtube.com/watch?v=iPkJH6BT7dM

[BRUIZER]

You'd have to be foolish to invest even a penny in todays woke corporate world, with this administration and ESG just ramping-up.

[Vette40th]

This will take some years to fix. Big tech used this bank, Reddit for example and many like it.

[Bill]

Brandonomics: Run on the Bank Edition

Twitter

[ZipZap]

Originally Posted by bill_daniels

Brandonomics: Run on the Bank Edition

https://twitter.com/Cointelegraph/st...54701838360577

Hopefully this isn't today. Big boys yanked their dough last week. FDIC won't be paying insurance until Monday. If you had more than $250k, you're going to need to get in line with all of the depositors. They're sure as hell not going to do any transactions over $250k for personal accounts for awhile. It will be interesting to see when all the liquid assets are counted, and all their held paper is sold off, what the return on a dollar will be.

[TheRealBadger]

The issue isn’t the run itself, it’s the paper they were holding for a lot of startup companies and then the impact on lending tightening up.

[ZipZap]

January 12, 2023 -

"Let me close with this. Today’s inflation numbers are good news — good news about our economy. And we have more work to do, but we’re on the right track."

Pretty sure there aren't any victims of inflation, loose spending and the Fed. After all, these loser people had money in the bank, so they were better off than 90% of the earth population. Tell them to quit being racist and learn to code.

[Bill]

Brandon's tough sanctions are working! They're causing real pain....to the US.

[Bill]

[6spdC6]

Originally Posted by Vette40th

This will take some years to fix. Big tech used this bank, Reddit for example and many like it.

So glad for the most part I invest in widow and orphan stocks and medical REITs.

[TheRealBadger]

Originally Posted by bill_daniels

And why do you suspect this is relevant?

[Bill]

Originally Posted by TheRealBadger

And why do you suspect this is relevant?

Because the job of a risk manager is to mitigate risk, not to virtue signal, This is the person in the room that's tasked with saying, "this is not a good idea, this is not going to go well for us."

This woman chose to, instead, focus her efforts on showing she was "one of the good ones" willing to actively discriminate against White men. How do you think that reflected in her evaluation of potential loans and investments?

Evidently, that strategy didn't work out too well. But hey, they virtue signaled right down to the bitter end, so they've got that going for them.

[Rodnok1]

So much for diversity...

[Louie Detroit]

Originally Posted by bill_daniels

Because the job of a risk manager is to mitigate risk, not to virtue signal, This is the person in the room that's tasked with saying, "this is not a good idea, this is not going to go well for us."

This woman chose to, instead, focus her efforts on showing she was "one of the good ones" willing to actively discriminate against White men. How do you think that reflected in her evaluation of potential loans and investments?

Evidently, that strategy didn't work out too well. But hey, they virtue signaled right down to the bitter end, so they've got that going for them.

Instead of being pregnant, barefoot and in the kitchen making a sammie, they chose to once again demonstrate the Peter principle and why serious businesses need to be run mostly by adult white men.