And just like that….SVB is bailed out

[multivita-man]

Woke banks can afford to take higher risks, focus more in LBGTQ / Diversity BS, and mismanage their assets because they know the govt will 100% completely bail out / cover banks 'too big to fail' ... like SVB.

Good God, this is the stupidest fucking take I've seen on this topic. Their collapse had nothing to do with wokeness or CRT. Maybe shut the fuck up and do your homework once in a while.

 

[multivita-man]

Joe is building it all back better.

You dumb ****. 2/3 of pandemic stimulus is attributable to MAGA.

 

[multivita-man]

View attachment 765439



View attachment 765440

They didn't bail out the bank; they bailed out the account holders.

It's a bail out, and I agree it sucks, but given the amount of fed money that's been printed over the last 10-12 years, I seriously doubt SVB is the only one out there and if they don't bail the account holders out, we not only have contagion, we have the collapse of entrepreneurship on a massive scale.

This isn't a Biden/Treas Sec Yellen creation; this is a 2008 financial crisis/Bernanke/Obama/FC Yellen/FC Powell/Trump/MAGA/Corp Dems creation. The balance sheet before/after 2008 is unreal.

 

[easyt65]

Good God, this is the stupidest fucking take I've seen on this topic. Their collapse had nothing to do with wokeness or CRT.

SVB did not have a risk assessment CEO forv9 months. When they did hire one they hited an outspoken Gay LGBTQetc... activist who reportedly spent the majority of her time the 1st several months focusing on some Gay pride project , diversity, etc...

Perhaps if she spent more time focusing on risk assessment, lack.of cash, their low interest rate of return, and the effects of 7 Fed interest rate hikes which led investors to want to go elsewhere for higher interest rate gains SVB could have avoided the collapse.

 

[Dirk the Daring]

SVB ran up their interest rate risk in 2020 and 2021. Before inflation hit.

But anyone with a lick of sense would have known they were exposing themselves to a tremendous interest rate risk.

Hell, I wrote about it in a topic I called "The Fed's Bond Bubble Doomsday Machine" years ago on this forum.

In 2018, the CEO of SVB, along with a lot of other banks, lobbied Congress and President Trump to repeal parts of Dodd-Frank. Trump signed a law doing so, which lowered the capital requirements for banks and did away with the stress tests which would have revealed just how precarious SVB's positions were.

Karma is a BITCH!

Question, it's been widely reported that SVB was without a Chief Risk Officer since early 2022, is this the type of 'stress' that a CRO would be responsible for seeing?

Also, I just posted this in another thread regarding this subject - there's a pretty former high ranking Dem disagreeing with your assessment and I'd be curious about your take;

Barney Frank blames crypto panic for his bank's collapse. Elizabeth Warren blames Trump.

The rift between Frank and Warren is just a preview of what's to come as Democrats sort out positions on how to respond to the latest banking crisis.

www.politico.com

(Italics and Bold by me)
Frank, who chaired the House Financial Services Committee in the wake of the global financial crisis and wrote sweeping new rules enacted in 2010, most recently served on the board of New York’s Signature Bank, which regulators shut down Sunday.
From his front-row seat, he blames Signature’s failure on a panic that began with last year’s cryptocurrency collapse — his bank was one of few that served the industry — compounded by a run triggered by the failure of tech-focused Silicon Valley Bank late last week. Frank disputes that a bipartisan regulatory rollback signed into law by former President Donald Trump in 2018 had anything to do with it, even if it was driven by a desire to ease regulation of mid-size and regional banks like his own.

“I don’t think that had any impact,” Frank said in an interview. “They hadn’t stopped examining banks.”

The 2018 law that eased banking regulations advanced with a degree of encouragement from Frank, who was on Signature’s board at the time. He was a proponent of raising a $50 billion asset threshold in his 2010 law that triggered stricter oversight.

Congress ended up changing the framework so that banks would be eligible for greater regulatory scrutiny once they reached $100 billion in assets and then automatically face the toughest regulation at $250 billion.

Signature was poised to be a major beneficiary of the change, with assets of about $44 billion in 2018. It had $110 billion in assets as of this weekend.

Frank said Sunday that he didn’t think changing the threshold to $250 billion from $50 billion “had any impact.”

 

[multivita-man]

SVB did not have a risk assessment CEO forv9 months.

They misjudged risk. Oh, what a fucking genius you are.

When they did hire one they hited an outspoken Gay LGBTQetc... activist who reportedly spent the majority of her time the 1st several months focusing on some Gay pride project , diversity, etc...

Like you have any idea what anyone in the company spent their time on.

Perhaps if she spent more time focusing on risk assessment, lack.of cash, their low interest rate of return, and the effects of 7 Fed interest rate hikes which led investors to want to go elsewhere for higher interest rate gains SVB could have avoided the collapse.

You're making shit up.

 

[easyt65]

They misjudged risk. Oh, what a fucking genius you are. Like you have any idea what anyone in the company spent their time on. You're making shit up.

Its called media reporting, dumbass. I already created a thread on this topic days ago, posting 3 seperate article links.

I can't help you are ignorant about what you are discussing.




Start with this one to educate yourself

Home Depot Co-Founder Bernie Marcus Slams Woke Banks: More Concerned About Global Warming Than Shareholder Returns (VIDEO) | The Gateway Pundit | by Mike LaChance

One of the possible reasons why Silicon Valley Bank folded is that instead of paying attention to risk managment, their leaders were pushing woke nonsense.

www.thegatewaypundit.com

 

[multivita-man]

Its called media reporting, dumbass. I already created a thread on this topic days ago, posting 3 seperate article links.

I can't help you are ignorant about what you are discussing.




Start with this one to educate yourself

Home Depot Co-Founder Bernie Marcus Slams Woke Banks: More Concerned About Global Warming Than Shareholder Returns (VIDEO) | The Gateway Pundit | by Mike LaChance

One of the possible reasons why Silicon Valley Bank folded is that instead of paying attention to risk managment, their leaders were pushing woke nonsense.

www.thegatewaypundit.com

You have no idea what you're talking about, tard. Just shut up and pee in your pants like your stupid little signature image says you do. Like we couldn't figure that out.

 

[easyt65]

You have no idea what you're talking about, tard. Just shut up and pee in your pants like your stupid little signature image says you do. Like we couldn't figure that out.

Oh, what a cute yet ignorant response, an immature insult distraction when faced with actual published intelligence instead of ignorant opinion.

 

[Mac1958]

Now, we the taxpayers, just covered all the non-FDIC insured deposts:

The funds are coming from the DIF, Deposit Insurance Fund, which is funded by the banks themselves.

Taxpayers could be on the hook if the DIF runs out of funds, though. That wouldn't be a shock.

 

[Burgermeister]

Fast-forward to the weekend when people started appearing out of the woodwork online to beg for a bailout, even when in some cases they were responsible for creating the run on the bank in the first place, and were even trying to profit off of it in the interim.

All of which is to say that SVB was as far from It’s A Wonderful Life’s Savings and Loan as you could get. And in the act of bailing it out, the Federal Reserve has now committed to also giving loans to any other banks who are seeing short-term losses on investments following recent interest rate hikes. In plain English what this means is a preemptive promise to bail out other banks that might have screwed up.

Roblox Is Being Handed $150 Million By Government After Bank Collapse, Money Isn't Real

So you pay higher rates when you buy a car, house, use your credit cards but the banks once again get billions that will be a shell game that never gets paid back.

This is why I want it all to burn down.

It's worse than that. This assistance is not automatic and triggered by defined conditions. It's only for those banks approved by the Treasury Secretary.

 

[multivita-man]

It's worse than that. This assistance is not automatic and triggered by defined conditions. It's only for those banks approved by the Treasury Secretary.

Probably for major banks that don't technically meet the definition of a systemically important bank. If we're dealing with just one bank, meh, who gives a toss? But when capital flight grips *all* regional banks across the country and even outside the country (see bank stocks in Europe and Asia this morning)...well then, Houston, we have a problem.

I do blame the anti-regulatory cheerleading and for the last time, crypto just needs to fucken die. But there's absolutely no mistake about it: the regulators should have been on top of this and they whiffed. And so now Big Finance and Tech Bros will get their bailout that they don't deserve, but it's either that, or lots of people head to the unemployment lines soon and this isn't going to happen a few months before the next presidential election cycle begins in earnest.

 

[pknopp]

I just saw a report that states that people lost 10 billion last year over internet scams. I see no difference in what happened to them and what happened to people who had money in this bank. Why do others not get bailed out?

 

[JGalt]

You dumb ****. 2/3 of pandemic stimulus is attributable to MAGA.

If you weren't such an ignorant faggot you'd know that Trump's COVID spending was bipartisan, and passed by both the Republicans and the Democrats. Between March 2020 and March 2021, Congress passed about $6 trillion in spending that, at least in theory, was intended as pandemic relief. The first $4 trillion was passed with bipartisan support under President Donald Trump, but the final tranche was passed early in President Joe Biden's presidency on an entirely partisan basis.

Round 1, March 2020: $1,200 per income tax filer, $500 per child (CARES Act)

Round 2, December 2020: $600 per income tax filer, $600 per child (Consolidated Appropriations Act, 2021)

Round 3, March 2021: $1,400 per income tax filer, $1,400 per child (American Rescue Plan Act)

And in spite of that, more people died of COVID under Biden than under Trump.

 

[pknopp]

If you weren't such an ignorant faggot you'd know that Trump's COVID spending was bipartisan, and passed by both the Republicans and the Democrats.

Well there is a positive. Noting that it was all very bipartisan.

Between March 2020 and March 2021, Congress passed about $6 trillion in spending that, at least in theory, was intended as pandemic relief. The first $4 trillion was passed with bipartisan support under President Donald Trump, but the final tranche was passed early in President Joe Biden's presidency on an entirely partisan basis.

Round 1, March 2020: $1,200 per income tax filer, $500 per child (CARES Act)

Round 2, December 2020: $600 per income tax filer, $600 per child (Consolidated Appropriations Act, 2021)

Round 3, March 2021: $1,400 per income tax filer, $1,400 per child (American Rescue Plan Act)

And in spite of that, more people died of COVID under Biden than under Trump.

Odd that Republicans were willing to support it under a Republican president but not a Democrat one?

 

[justoffal]

I guess it depends on your definition of "bailout"
Management is gone
Investors lose it all
Unsecured creditors may lose all

But the depositors money is safe and it won't cost $1 to the US taxpayer.

It will cost..... not directly in transferred funds but indirectly as the value of the newly printed money hits back against the Gross domestic product and chisels a few more percentage points off of the spending power of the dollar.

JO

 

[pknopp]

Capitalism!!!

 

[multivita-man]

If you weren't such an ignorant faggot you'd know that Trump's COVID spending was bipartisan, and passed by both the Republicans and the Democrats. Between March 2020 and March 2021, Congress passed about $6 trillion in spending that, at least in theory, was intended as pandemic relief. The first $4 trillion was passed with bipartisan support under President Donald Trump, but the final tranche was passed early in President Joe Biden's presidency on an entirely partisan basis.

Round 1, March 2020: $1,200 per income tax filer, $500 per child (CARES Act)

Round 2, December 2020: $600 per income tax filer, $600 per child (Consolidated Appropriations Act, 2021)

Round 3, March 2021: $1,400 per income tax filer, $1,400 per child (American Rescue Plan Act)

And in spite of that, more people died of COVID under Biden than under Trump.

I'm not doing your homework for you, dick breath. The majority of stimulus was passed during the Trump administration.

Deal with it.

 

[iamwhatiseem]

I just saw a report that states that people lost 10 billion last year over internet scams. I see no difference in what happened to them and what happened to people who had money in this bank. Why do others not get bailed out?

What needs to happen is to remove all of the loopholes legislators, on both sides, put in place to have FDIC pay way-way over $250,000. There are $millionaires who will get fully bailed out up to $3.5 million.
This was not a bank bailout, it is a Silicon Valley millionaire club bailout.

 

[JGalt]

I'm not doing your homework for you, dick breath. The majority of stimulus was passed during the Trump administration.

Deal with it.

You're wrong, liberal faggot. The stimulus that was passed under Trump was necessary, and was endorsed by both Republicans and Democrats. Our inflation rate was also down around 1.2% then, until Biden spent a shitload more of unnecessary spending and made the inflation rate jump to 9.1%.

Let's face it: Your dumbfuck of a "president" is a failure, no matter how you look at it. Here's a verifiable list of things that happened or are still taking place during the presidency of Joe Biden:

• Promised on several occasions that he would "end fossil fuels"

• Later stated “We’re going to need oil for at least another decade”

• Gasoline that rose over two times the price it was in 2018

• Ended Keystone XL pipeline while waiving sanctions on Russia's Nord Stream 2

• Suspected US involvement in the bombing of the Nord Stream 2 pipeline

• The price of oil jumped up to $130 per barrel

• Drained US Strategic Oil Reserve to the lowest level since 1984

• Begged Saudi Arabia and Venezuela for oil

• Inflation rate rose as high as 9.1%, which was almost 5 times higher than it was in 2019

• A recession

• Dumped billions of dollars down the black hole of "Global Warming"

• U.S. household wealth down $13.5 trillion in 2022 - Second fastest decline on record

• Average middle-class family came up about $6,000 short of purchasing power

• The DOW dropped 6,700 points in only a year

• Stock market lost $9 trillion dollars worth of value in only two years

• Retirement accounts lost $3 trillion dollars

• 30 year fixed mortgages rose by 4.43% in only two years, to 7.75%

• Home prices soared 43% in only two years and housing sales slumped

• Median asking rent prices rose 79.7% in only two years

• Bankrupted landlords by excusing rent payments

• Grocery prices increased by 13.5% in only two years

• The price of electricity rose by 15.8% in only two years

• Hefty tax increases on the lower and middle class

• 84,000 new IRS agents arming and training to be home invaders

• Use of DOJ and FBI to harass political opponents

• A broken election system corrupt with fraud, sometimes taking months to count

• Wholesale mailing of ballots, ballot drop boxes, and illegal ballot harvesting

• Used a complicit media to lie, distort facts, and disseminate disinformation

• Conducting covert raids on American citizens and confiscating personal property

• Supply line disruptions, backorders, items out of stock or unavailable

• Massive backlog of cargo ships at US ports in 2022

• Sporadic shortages on grocery store shelves

• Air transportation disrupted, thousands of flight cancellations in 2022

• FAA system outages that disrupted thousands of flights in 2023

• Food-processing plants mysteriously burning down

• Record prices for eggs and poultry

• Record number of ecological disasters, train derailments, chemical spills, and fires

• Thousands of small businesses destroyed in order to benefit mega-corporations

• Continuing monumental trade deficit with China

• Allowed Communist China to operate "Police Stations" in American cities

• Allowed Chinese spy balloon to cross entire country, spying on military sites

• Used a $400,000 missile to shoot down a $12 hobbyist balloon over Alaska

• More COVID deaths than in 2020

• Vaccine mandates which caused deaths and debilitating health conditions

• Vaccine mandates which caused massive job losses for those who refused compliance

• Continued government funding for Planned Parenthood

• Eliminated Medicaid work requirements

• Increased food stamp giveaways by more than $1 billion a month, without Congress

• A whole generation of kids physically and psychologically damaged by prison-style lockdowns

• Subjecting young girls to creepy boys posing as "transgenders" in girl's locker rooms

• Stealing women's ability to fairly compete by allowing transgender males in women's sports

• Subjecting children to pornographic "Drag shows" and grooming them to be sex objects

• The promotion of transgenderism in schools, resulting in the genital and fertility mutilation
of children and adolescents by unethical medical practices and Big Pharma.

• Mass shootings occurring sometimes three times a week

• An exponentially-spiraling epidemic of violent crime and drugs

• Shutting down private prisons and turning inmates loose

• Fentanyl seizures up 745 percent

• 100,000 fentanyl deaths during Biden's first year of presidency

• 120% increase in opioid deaths in just two years

• Encouraged illegals to "surge" across the border without reason for amnesty

• A neutered Immigration and Customs Enforcement, virtually stopping arrests and deportations

• 4.9 million illegals crossing US border within only two years

• Added non-citizens to the census

• Immigration policies that dispersed COVID, crime, and potential terrorism throughout the US

• 900,000 "gotaways" who eluded apprehension and disappeared into American communities

• Record numbers of illegals dying while crossing the border

• Border Patrol arresting 98 who were on the terror watch list in 2022, 3X the last 5 years combined

• A President who wouldn't visit the border and said he had "More important things going on."

• A dishonorable withdrawal from Afghanistan that cost 13 American soldiers their lives

• $7.12 billion worth of US military equipment and weaponry left to the Taliban

• Hundreds of US citizens and Afghans left behind in Afghanistan after the withdrawal

• People falling out of the wheel wells of aircraft leaving Afghanistan

• A weakened US military more concerned with "political correctness" than creating soldiers

• A weakened US military via destructive anti-white racism and transgender-promoting policies

• Record low enlistment numbers

• A revitalized Russian oil industry, despite US sanctions

• A war in Ukraine that has cost the US billions of dollars and killed thousands

• Increased possibility of nuclear war with Russia

• Traded an America-hating lesbian doper basketball player for a terrorist Russian arms dealer,
while leaving an American Marine in a Russian prison

• North Korea continuing to expand their nuclear enrichment and missile programs

• A stronger Iran increasing their funding for Hamas and Hezbollah

• China became more energy and militarily dominant

• A senile, angry, and incompetent president who fell off of a bicycle, fell up stairs, insulted
half the people in America, labeled people as "terrorists", divided the country, and tried to incite
a civil war.