Here We Go Again. Wall St. Billionaires Demanding Bailouts Of Big Banks

[skews13]

The fact that Silicon Valley Bank (SVB) has been seized by federal regulators is a big deal and will have a huge impact on Silicon Valley’s startup scene. They are the financial institution for every new tech company in Northern California.

Something is really rotten at SVB. The bank has $209 billion in assets and $175.4 billion in deposits, yet it collapsed because it failed to raise a mere $1.75 billion in new financing. The consequences should ripple across a significant segment of the economy, particularly in the San Francisco-San Jose region.

But whatever, shit happens, right? Economic sectors are disrupted all the time, and this one, at least, should hit a more affluent crowd. We’re not talking the destruction of manufacturing in small towns all across America, and Silicon Valley is resilient enough to bounce back. It always does.

Except this isn’t small-town America. This is some of the wealthiest, most powerful interests in our country. And if there’s one thing wealthy financial interests love more than anything else, it’s privatizing profits but socializing the risks. So like clockwork …

Here we go again: Wall Street billionaires demanding public bailouts of failed banks

UPDATE: Friday, Mar 10, 2023 · 8:19:42 PM +00:00 · kos Just watch, all the usual suspects will make the same f’n arguments: They can f’ themselves. I am so livid, I am still throwing shit around my house. Sorry if you come into my house and see the...

www.dailykos.com

No. Hell no. Fuck no. Eat shit and fucking die no.

 

[1srelluc]

Open your eyes OP.....Most of the SVD BOD are left-leaning.....Leftists looking for a bail-out.....Sounds about right.

 

[occupied]

Open your eyes OP.....Most of the SVD BOD are left-leaning.....Leftists looking for a bail-out.....Sounds about right.

The only people you can bet on to oppose the kind of one sided bailouts we had in 2008 are the progressives. Everyone else will get lobbied for a bailout harder than they have ever seen should things get bad.

 

[B. Kidd]

Everyone's stomachs should feel queasy tonite!!

 

[Toddsterpatriot]

The fact that Silicon Valley Bank (SVB) has been seized by federal regulators is a big deal and will have a huge impact on Silicon Valley’s startup scene. They are the financial institution for every new tech company in Northern California.

Something is really rotten at SVB. The bank has $209 billion in assets and $175.4 billion in deposits, yet it collapsed because it failed to raise a mere $1.75 billion in new financing. The consequences should ripple across a significant segment of the economy, particularly in the San Francisco-San Jose region.

But whatever, shit happens, right? Economic sectors are disrupted all the time, and this one, at least, should hit a more affluent crowd. We’re not talking the destruction of manufacturing in small towns all across America, and Silicon Valley is resilient enough to bounce back. It always does.

Except this isn’t small-town America. This is some of the wealthiest, most powerful interests in our country. And if there’s one thing wealthy financial interests love more than anything else, it’s privatizing profits but socializing the risks. So like clockwork …

Here we go again: Wall Street billionaires demanding public bailouts of failed banks

UPDATE: Friday, Mar 10, 2023 · 8:19:42 PM +00:00 · kos Just watch, all the usual suspects will make the same f’n arguments: They can f’ themselves. I am so livid, I am still throwing shit around my house. Sorry if you come into my house and see the...

www.dailykos.com

No. Hell no. Fuck no. Eat shit and fucking die no.

Depositors shouldn't be bailed out?

 

[Toddsterpatriot]

The only people you can bet on to oppose the kind of one sided bailouts we had in 2008 are the progressives. Everyone else will get lobbied for a bailout harder than they have ever seen should things get bad.

What is a one-sided bailout?

 

[Toddsterpatriot]

Everyone's stomachs should feel queasy tonite!!

Meh.

 

[1srelluc]

The only people you can bet on to oppose the kind of one sided bailouts we had in 2008 are the progressives. Everyone else will get lobbied for a bailout harder than they have ever seen should things get bad.

Meh, according to my research it's your own ilk doin' the askin'......Care to flesh that one out?

 

[occupied]

What is a one-sided bailout?

They bailed out the banks, some for 100% of their loses, and let millions of homeowners go under.

 

[1srelluc]

They bailed out the banks, some for 100% of their loses, and let millions of homeowners go under.

But what about the bank in your OP? I thought that was the subject of the thread? Changed your tune now that I found them out? Do tell.

 

[occupied]

But what about the bank in your OP? I thought that was the subject of the thread? Changed your tune now that I found them out? Do tell.

What the fuck are you yapping about? If you can't remember 2008 that's a problem with you.

 

[1srelluc]

What the fuck are you yapping about? If you can't remember 2008 that's a problem with you.

You were the one harping on the leftist run bank needing a bail-out. I oppose all bail-outs. Sink or swim on your own hook.

 

[Toddsterpatriot]

They bailed out the banks, some for 100% of their loses, and let millions of homeowners go under.

They bailed out the banks, some for 100% of their loses

They loaned money to banks. The US Treasury made tens of billions.

and let millions of homeowners go under.

The government spent tens of billions to help refi mortgages.
Never got repaid a penny.

 

[occupied]

You were the one harping on the leftist run bank needing a bail-out. I oppose all bail-outs. Sink or swim on your own hook.

You think everyone to the left of you is a leftist. Actual leftists, otherwise known as progressives in America, have no interest in protecting banks from the consequences of their recklessness.

 

[GMCGeneral]

They bailed out the banks, some for 100% of their loses, and let millions of homeowners go under.

Probably because these homeowners weren't qualified for a mortgage in the first place. Hellooo subprime debacle created by your fag friend Bawney Fwank.

 

[occupied]

They bailed out the banks, some for 100% of their loses

They loaned money to banks. The US Treasury made tens of billions.

and let millions of homeowners go under.

The government spent tens of billions to help refi mortgages.
Never got repaid a penny.

And yet trillions in personally held wealth evaporated almost overnight. By the time anything came along to help homeowners the damage was done.

 

[1srelluc]

You think everyone to the left of you is a leftist. Actual leftists, otherwise known as progressives in America, have no interest in protecting banks from the consequences of their recklessness.

Well in that I can agree with them as long as they don't cherry-pick which ones to bail-out.

 

[occupied]

Probably because these homeowners weren't qualified for a mortgage in the first place. Hellooo subprime debacle created by your fag friend Bawney Fwank.

Yes I heard that one before. Blaming the homeowners for the great recession was a republican drumbeat long after it became obvious reckless real estate speculation and leveraging mortgages for many times their actual worth blew the biggest hole in the economy.

 

[Toddsterpatriot]

And yet trillions in personally held wealth evaporated almost overnight. By the time anything came along to help homeowners the damage was done.

Yeah. That happens when a bubble bursts. Doesn't make your idiotic claims any less wrong.

 

[Toddsterpatriot]

Yes I heard that one before. Blaming the homeowners for the great recession was a republican drumbeat long after it became obvious reckless real estate speculation and leveraging mortgages for many times their actual worth blew the biggest hole in the economy.

The homeowners didn't force the banks to make bad loans.

The homeowners didn't force Fannie and Freddie to buy bad loans.