Three banks?neonzx wrote: ↑Tue Mar 14, 2023 5:57 pm Goldco is here to help. This is the first advert I've received from them via text. I'm super excited! Thank you Kimberly!!
Goldco: Three banks just failed & others are buying gold in record numbers. Protect YOUR retirement savings! Learn how. Call 855-720-3486 Reply STOP to end
What is going on with Silicon Valley Bank???
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What is going on with Silicon Valley Bank???
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What is going on with Silicon Valley Bank???
I only saw two, Silicon Valley Bank and Signature Bank.Kriselda Gray wrote: ↑Tue Mar 14, 2023 7:47 pmThree banks?neonzx wrote: ↑Tue Mar 14, 2023 5:57 pm Goldco is here to help. This is the first advert I've received from them via text. I'm super excited! Thank you Kimberly!!
Goldco: Three banks just failed & others are buying gold in record numbers. Protect YOUR retirement savings! Learn how. Call 855-720-3486 Reply STOP to end
Edit: Yeah, two. They are fibbing.
https://www.fdic.gov/resources/resoluti ... bank-list/
https://www.fdic.gov/resources/resoluti ... bank-list/
Edit: Oops, yeah, a third (Silvergate) that hasn't hit the FDIC list. Yet.
“Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide.” —John Adams
What is going on with Silicon Valley Bank???
Silicon Valley, Signature, and Silvergate. All S-es (?). Weird.
"Choose your leaders with wisdom and forethought. To be led by a coward is to be controlled by all that the coward fears… To be led by a liar is to ask to be told lies." -Octavia E. Butler
What is going on with Silicon Valley Bank???
Just looked into this. The official FDIC page lists only two bank failures in 2023...Kriselda Gray wrote: ↑Tue Mar 14, 2023 7:47 pmThree banks?neonzx wrote: ↑Tue Mar 14, 2023 5:57 pm Goldco is here to help. This is the first advert I've received from them via text. I'm super excited! Thank you Kimberly!!
Goldco: Three banks just failed & others are buying gold in record numbers. Protect YOUR retirement savings! Learn how. Call 855-720-3486 Reply STOP to end
Bank Failures in Brief – 2023
Silicon Valley Bank on 3/10/2023
Signature Bank on 3/12/2023
But there's also Silvergate which is undergoing "voluntary liquidation" as of 3/8/2023 without the help of FDIC receivership. It was crypto-involved.
Silvergate pursuing voluntary liquidation in California without FDICSilvergate Capital Corp.'s voluntary liquidation process is being supervised by the state of California, and the company has not entered the Federal Deposit Insurance Corp.'s receivership program at this point, a spokesperson for the California Department of Financial Protection and Innovation confirmed.
Silvergate Capital on March 8 announced that it will liquidate La Jolla, Calif.-based subsidiary Silvergate Bank and plans to fully repay deposits. In another announcement, the California Department of Financial Protection and Innovation, or DFPI, said it will facilitate "the safe and expeditious voluntary liquidation" of Silvergate.
With the liquidation being supervised by the DFPI, it is unlikely that the agency will appoint the FDIC as receiver for Silvergate, at least for now, said John Popeo, partner at financial regulatory advisory firm The Gallatin Group.
The press are calling it a "bank failure", which is what it seems to be. But it looks like depositors will not lose money. The management is closing it while the balance sheet is still positive.
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What is going on with Silicon Valley Bank???
Thanks for the video, Mouse. He confirmed my suspicions that the biggest contributing factors in the SVB collapse were incompetence and irresponsibility.
They made bad decisions. Buying the TBonds, essentially betting all of Silicon Valley’s future that interest rates would NEVER AGAIN RISE. That’s just stupid. Not replacing your Risk Manager for almost a year is…I can’t even.
Plus the TechDudeBros and their disruptor mentality - oh, hey, let’s 200 of us take our money out at once. Have we killed it yet?
Who’s the leader? Thiel the sociopath, that’s who.
I don’t not care what the geniuses in Congress eventually determine the fault is, to me it’s a self-inflicted wound.
Tech thinks they can run the world better than democracy. But they can’t. It’s all ego.
They made bad decisions. Buying the TBonds, essentially betting all of Silicon Valley’s future that interest rates would NEVER AGAIN RISE. That’s just stupid. Not replacing your Risk Manager for almost a year is…I can’t even.
Plus the TechDudeBros and their disruptor mentality - oh, hey, let’s 200 of us take our money out at once. Have we killed it yet?
Who’s the leader? Thiel the sociopath, that’s who.
I don’t not care what the geniuses in Congress eventually determine the fault is, to me it’s a self-inflicted wound.
Tech thinks they can run the world better than democracy. But they can’t. It’s all ego.
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What is going on with Silicon Valley Bank???
Ok this is spooky…
Silverado Savings and Loan.
Remember them? That cost taxpayers a cool billion when it failed in 88.
Silverado Savings and Loan.
Remember them? That cost taxpayers a cool billion when it failed in 88.
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What is going on with Silicon Valley Bank???
I bet the SovCits are on to something when they insist on payments in bags of silver
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What is going on with Silicon Valley Bank???
PS: I saw a man waiting at an ATM. I asked him why he was standing on one leg. He said he was checking his balance.
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What is going on with Silicon Valley Bank???
"Mickey Mouse and I grew up together." - Ruthie Tompson, Disney animation checker and scene planner and one of the first women to become a member of the International Photographers Union in 1952.
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What is going on with Silicon Valley Bank???
F and various ones starting with T. It looks like I'm safe.
My main bank made it through the great recession with little issue so I am hoping they stick with the good midwestern conservative financial policies.
My main bank made it through the great recession with little issue so I am hoping they stick with the good midwestern conservative financial policies.
101010
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What is going on with Silicon Valley Bank???
My retirement died with Lehmann Bros. Ugh.northland10 wrote: ↑Wed Mar 15, 2023 8:17 pm F and various ones starting with T. It looks like I'm safe.
My main bank made it through the great recession with little issue so I am hoping they stick with the good midwestern conservative financial policies.
What is going on with Silicon Valley Bank???
I heard Ari Melber talking on his show about what a catastrophe this all is. BS. Depositors will be made whole. Investors will not. Hey, guys, that's how capitalism works. This is certainly a problem, but calling it a catastrophe is throwing fuel on the fire.
"Choose your leaders with wisdom and forethought. To be led by a coward is to be controlled by all that the coward fears… To be led by a liar is to ask to be told lies." -Octavia E. Butler
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What is going on with Silicon Valley Bank???
Hyperbole has become the lingua franca of "news" outlets.AndyinPA wrote: ↑Wed Mar 15, 2023 8:46 pm I heard Ari Melber talking on his show about what a catastrophe this all is. BS. Depositors will be made whole. Investors will not. Hey, guys, that's how capitalism works. This is certainly a problem, but calling it a catastrophe is throwing fuel on the fire.
IT'S ALL ABOUT THE ADVERTISING SELLS, no longer about facts.
Mr. Murrow and Mr. Cronkite would not be allow allowed to set sit on a new news desk today.
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What is going on with Silicon Valley Bank???
John Thomas8 wrote: ↑Wed Mar 15, 2023 9:12 pmHyperbole has become the lingua franca of "news" outlets.AndyinPA wrote: ↑Wed Mar 15, 2023 8:46 pm I heard Ari Melber talking on his show about what a catastrophe this all is. BS. Depositors will be made whole. Investors will not. Hey, guys, that's how capitalism works. This is certainly a problem, but calling it a catastrophe is throwing fuel on the fire.
IT'S ALL ABOUT THE ADVERTISING SELLS, no longer about facts.
Mr. Murrow and Mr. Cronkite would not be allow to set on a new desk today.
101010
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What is going on with Silicon Valley Bank???
One of these days I'll learn how to type/spell.
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What is going on with Silicon Valley Bank???
Uh-oh, another California bank's in trouble. At least it doesn't start with an 'S', whew!
First Republic Bank of San Francisco, California has had its stock downgraded to "junk" status and is facing a liquidity crunch. Where have we heard that before?
First Republic Bank considers strategic options, potential sale- Bloomberg
First Republic Bank of San Francisco, California has had its stock downgraded to "junk" status and is facing a liquidity crunch. Where have we heard that before?
First Republic Bank considers strategic options, potential sale- Bloomberg
Can you say "run on the bank Thursday morning"?Investing.com--Embattled U.S. lender First Republic Bank (NYSE:FRC) is exploring strategic options, including a potential sale as it faces a looming liquidity crunch, Bloomberg reported on Wednesday, citing sources close to the matter.
The bank is reportedly considering options to reinforce its liquidity position, and is expected to court interest from larger rivals, although no decision has been reached on the matter.
The news comes after the bank’s credit rating was sharply downgraded by S&P Global Ratings to “junk” status, while Moody’s said it was placing the bank under review for a potential downgrade.
Both agencies flagged growing risks of increased deposit withdrawals for the bank, and that it faces increased pressure on its profitability if it resorts to more expensive funding options than deposits.
Moody’s also placed Western Alliance Bancorporation (NYSE:WAL), Intrust Financial Corp, UMB Financial Corporation (NASDAQ:UMBF), Zions Bancorporation (NASDAQ:ZION) and Comerica Inc (NYSE:CMA) on review for potential downgrades.
Shares of First Republic plummeted over 61% this week amid growing concerns that it will be the next domino to fall in a brewing U.S. banking crisis, which saw regional players including Silicon Valley Bank (NASDAQ:SIVB), Silvergate Capital Corp (NYSE:SI) and Signature Bank (NASDAQ:SBNY) close operations due to a severe credit crunch.
First Republic faced a share rout on concerns over its reliance on uninsured deposits as funding, and also unrealized losses in its securities portfolios, which consists largely of long-dated bonds.
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A group of 11 major banks is putting up $30 billion to keep First Republic Bank afloat.
Does this count as a failure?
Wall Street rides to the rescue as 11 banks pledge $30 billion to First Republic Bank
Does this count as a failure?
Wall Street rides to the rescue as 11 banks pledge $30 billion to First Republic Bank
A group of financial institutions has agreed to deposit $30 billion in First Republic Bank in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon.
Bank of America, Wells Fargo, Citigroup and JPMorgan Chase will contribute about $5 billion apiece, while Goldman Sachs and Morgan Stanley will deposit around $2.5 billion, the banks said in a news release. Truist, PNC, U.S. Bancorp, State Street and Bank of New York Mellon will deposit about $1 billion each.
“This action by America’s largest banks reflects their confidence in First Republic and in banks of all sizes, and it demonstrates their overall commitment to helping banks serve their customers and communities,” the group said in a statement.
The deposits would be obligated to stay at First Republic for at least 120 days, sources told CNBC’s David Faber. Regional bank stocks initially fell on Thursday but reversed higher after reports from Faber and others about the development of the deposit plan.
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What is going on with Silicon Valley Bank???
I wouldn't say so. No depositor will lose money, it's just a sale at a very good price. The banks that are pitching in will certainly not lose money long term and there is a little bit of truth the the idea that saving a shaky bank is good for the not so shaky ones.much ado wrote: ↑Thu Mar 16, 2023 6:24 pm A group of 11 major banks is putting up $30 billion to keep First Republic Bank afloat.
Does this count as a failure?
Wall Street rides to the rescue as 11 banks pledge $30 billion to First Republic Bank
A group of financial institutions has agreed to deposit $30 billion in First Republic Bank in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon.
Bank of America, Wells Fargo, Citigroup and JPMorgan Chase will contribute about $5 billion apiece, while Goldman Sachs and Morgan Stanley will deposit around $2.5 billion, the banks said in a news release. Truist, PNC, U.S. Bancorp, State Street and Bank of New York Mellon will deposit about $1 billion each.
“This action by America’s largest banks reflects their confidence in First Republic and in banks of all sizes, and it demonstrates their overall commitment to helping banks serve their customers and communities,” the group said in a statement.
The deposits would be obligated to stay at First Republic for at least 120 days, sources told CNBC’s David Faber. Regional bank stocks initially fell on Thursday but reversed higher after reports from Faber and others about the development of the deposit plan.
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What is going on with Silicon Valley Bank???
I took from "deposit" that it this is a (hopefully short-term) loan.A group of financial institutions has agreed to deposit $30 billion in First Republic Bank in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon.
So not a bailout per se, as it isn't government money (but the feds had a hand in making it happen), and not a sale because I haven't see anything saying First Republic is selling itself (or even a part of parts of itself).
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What is going on with Silicon Valley Bank???
It isn't a sale per se, but if they can't come up with some long term solution in a few months the Fed will encourage them to convert the deposits to equity.bob wrote: ↑Thu Mar 16, 2023 10:23 pmI took from "deposit" that it this is a (hopefully short-term) loan.A group of financial institutions has agreed to deposit $30 billion in First Republic Bank in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon.
So not a bailout per se, as it isn't government money (but the feds had a hand in making it happen), and not a sale because I haven't see anything saying First Republic is selling itself (or even a part of parts of itself).
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You don't have to consent, but I'm gonna tase you anyway.