Yellen rules out bailout for Silicon Valley Bank: "not going to do that again"/Greg Becker, SVB CEO, sold $3.5 million in stock 2weeks before collapse

[Circe]

It breeds irresponsibility

Banks are free to take chances with the blessing of depositors when they know government will take care of them

Ya think? Might be a little moral hazard there?

I saw the dreaded words in the WSJ last night, somebody in the financial system whispering, "Too Big To Fail."

 

[iamwhatiseem]

Democrats are tired of cleaning up Republican fuck ups.

Complete garbage, and anyone with an IQ over 85 knows it.
SVB failed because it relied on never running out of borrowing money.
It's business plan was to borrow - loan - borrow - loan - borrow etc. etc.
That game works well as long as:
A) The economy does well.
B) You don't run out of people to loan you money

 

[Synthaholic]

Especially when there is inflation (or corporate greed masking as inflation).

In EVERY OTHER INSTANCE OF INFLATION the federal reserve has increased interest rates to counter it.

 

[Synthaholic]

Complete garbage, and anyone with an IQ over 85 knows it.
SVB failed because it relied on never running out of borrowing money.
It's business plan was to borrow - loan - borrow - loan - borrow etc. etc.
That game works well as long as:
A) The economy does well.
B) You don't run out of people to loan you money

You don't know what you're talking about. These rules would have kept the stress tests on this bank, preventing this. Trump and the Republican Congress removed the guardrail.

 

[Rogue AI]

You don't know what you're talking about. These rules would have kept the stress tests on this bank, preventing this. Trump and the Republican Congress removed the guardrail.

In your deluded world of 'blame Trump' how much of the responsibility actually falls on SVB? In the real world, 100% is on them.

 

[Synthaholic]

In your deluded world of 'blame Trump' how much of the responsibility actually falls on SVB? In the real world, 100% is on them.

Corporate assholes are going to push the envelope on what they can get away with, confident that their asshole friends in congress will protect them.

Trump and the Republican Congress are responsible for the opportunity for them to once again be irresponsible corporate assholes.

The Democrats, under Dodd-Frank, held them in check.

 

[Rogue AI]

Corporate assholes are going to push the envelope on what they can get away with, confident that their asshole friends in congress will protect them.

Trump and the Republican Congress are responsible for the opportunity for them to once again be irresponsible corporate assholes.

The Democrats, under Dodd-Frank, held them in check.

Blame Obama and 'too big to fail' for all that. That's where this all really began. Corporate assholes won't last long if the companies they tank are lost forever. It's the over-involved government that is the real problem here, not the opposite.

 

[Synthaholic]

Blame Obama and 'too big to fail' for all that. That's where this all really began. Corporate assholes won't last long if the companies they tank are lost forever. It's the over-involved government that is the real problem here, not the opposite.

Is this your ODS kicking up?

 

[Rogue AI]

Is this your ODS kicking up?

Did someone else bail out more private industry with tax payer dollars? If not, you really have nothing.

 

[basquebromance]

 

[pknopp]

Blame Obama and 'too big to fail' for all that. That's where this all really began. Corporate assholes won't last long if the companies they tank are lost forever. It's the over-involved government that is the real problem here, not the opposite.

If in the end if the Fed doesn't crash rates and the government doesn't step in with bailouts things worked better.

If some are pissed at losing millions, maybe they need to consider backing even tighter regulations on banks.

 

[basquebromance]

For comic relief, here’s a list of “cross-function working groups” from SVB’s 2022 ESG report: - Sustainable Finance Group: Develops strategy and monitors progress against SVB’s Climate Commitment • Investments Group: Reviews updates from our businesses on sustainability and investing-related initiatives and client engagement • Climate Risk Group: Recommends, monitors and supports implementation of climate risks • Operational Climate Group: Monitors implementation of operational greenhouse gas reduction initiatives • ESG Communications and Disclosures Group: Recommends ESG disclosure strategy • Risk Group: Develops, monitors and supports implementation of ESG risk strategy and policy • DEI Governance Group: Oversees and manages DEI disclosures and response to external inquiries • Green Team: Focuses on internal sustainability interests and activities

 

[basquebromance]

 

[Cellblock2429]

they're not gonna bail out the UK arm of SVB either. you're on your own. NO MORE BAILOUTS!

SVB CEO Sold $3.6 Million in Stock Days Before Bank’s Failure

Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure.

www.bloomberg.com

/—-/ Look for a work around to stop a panic.https://share.newsbreak.com/3ak8h5l1

 

[Cellblock2429]

/——/ Maybe less time on a stupid political agenda and more time on actual banking stuff… hey, it’s a thought. https://www.svb.com/about-us/living-our-values/diversity-equity-inclusion

 

[basquebromance]

 

[Cellblock2429]

/——/ And guess who was pumping svb last month. https://r.search.yahoo.com/_ylt=Awr...32160650/RK=2/RS=4HTn1AMloVsjDjPh3SevNKJdI70-

 

[basquebromance]

Silicon Valley Bank wanted to be treated as if normal FDIC resolution would not threaten the economy. That made the bank’s deposits more lucrative which laid the groundwork for the various services it offered that the tech industry valued more than it valued soundness.

 

[basquebromance]

Report: Police Called to Silicon Valley Bank's NYC Branch

Police were reportedly called to Silicon Valley Bank's Manhattan branch on Friday after depositors attempting to withdraw funds were locked out of the bank.

www.breitbart.com

 

[1srelluc]

If we bail the bank out we won’t have anything for reparations.