Silicon Valley Bank is Dead

Discussion in 'The Mainboard' started by Menelaus, Mar 10, 2023.

  1. wes tegg

    wes tegg I'm a Guy's guy, guys.
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    WHAT ABOUT BENGHAZI?!
     
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  2. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    its heart warming to know that despite being dead for years Charlies Daniels is still keeping us aware of Benghazi
     
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  3. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    One is a bank and one is crypto?
     
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  4. Bruce Wayne

    Bruce Wayne Billionaire Playboy
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    Most people here were early-20s shitheads during that period. I've watched a few docs on it all but am no where near as educated on it as I probably should be considering our generation will bear the brunt of the long term effects
     
    Lyrtch likes this.
  5. NothingIsOT

    NothingIsOT Prom pic
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    Sure- it was a stretch, but I don’t think SVB is worthy of invoking the fdic conversation. I don’t even think most here even knew what SVB is, nor what formidable solutions there are right now. Cute story on a slow March week, but seems like we’re hitting the panic a tad early on a regional bank causing contagion.
     
  6. Arrec Bardwin

    Arrec Bardwin La Araña Discoteca
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    Silvergate is a bank. There is very little difference in what caused insolvency, and technically Silvergate threw in the towel before becoming insolvent.
     
  7. Bricktop the white

    Bricktop the white Well-Known Member

    really disappointed user15000 isn't here to tell us why all banks are ponzi schemes run by morons and to invest all of our money in real assets (bitcoin and ape jpegs)
     
  8. Mix

    Mix I own a Fuddruckers with Scottie Pippen
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    Never heard of this bank before today but found out our payroll company uses them so the money they took Wednesday to pay today got held up but is supposed to be paid out by end of day.
     
  9. Lyrtch

    Lyrtch My second favorite meat is hamburger
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  10. pperc

    pperc Well-Known Member
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    Let us know if it gets paid (doubtful)
     
  11. user15000

    user15000 Well-Known Member

    Neat little system

     
  12. g8r

    g8r Well-Known Member
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    Cue lyrtch “it doesn’t matter”
     
  13. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    Correct
     
  14. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    Crypto cfa
     
    Eamudo229 likes this.
  15. Bricktop the white

    Bricktop the white Well-Known Member

    The federal reserve just doesn't get it. Ape holders can use multiple slurp juices on a single ape. so if you have one astro-ape and 3 slurp juices, you can create 3 new apes. They can fix this crisis at any time.
     
  16. Volholic16

    Volholic16 Well-Known Member
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    Wife’s company does (did) all their banking at SVB. She tried to wire out all their money except the FDIC insured min but it obviously didn’t happen.

    Been an interesting 24 hrs. Sucks. She’s stressed as fuck, particularly since she handles all their day to day accounting and finance stuff.
     
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  17. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    Apparently she should have done some due diligence and need to break out her bootstraps and accept responsibility

    - Lyrtch
     
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  18. THF

    THF BITE THE NUTS, THUMB IN THE ASS!
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    Help me understand why the money printers aren’t going brrrrrrrrrrrr
     
  19. Bricktop the white

    Bricktop the white Well-Known Member

    j pow is a fucking trump stooge hellbent on nuking the economy to ensure a trump victory in 24
     
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  20. g8r

    g8r Well-Known Member
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    You are an idiot.
     
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  21. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    as an admirer of your work i welcome this
     
  22. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    we've gone through this. i hope you support and advocate for nationalized banking going forward.
     
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  23. chuckmasterflex

    chuckmasterflex Attack and dethrone God
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  24. texasraider

    texasraider thanks
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    The steering wheel is already off
     
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  25. Lyrtch

    Lyrtch My second favorite meat is hamburger
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  26. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    We effectively are as long as we aren't bailing out investors
     
  27. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    thats just charging the public for losses without any upside

    not even close
     
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  28. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    socializing losses and privatizing gains has been a very explicit edict in the US for basically ever but especially the last 40 years

    should not do that!
     
  29. Killy Me Please

    Killy Me Please I lift things up and put people down.
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    Fuckin legend, mate.
     
  30. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    Socializing the losses would be bailing out the stock holders like we've done with a lot of other bailouts.

    Making the depositors whole is vastly different
     
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  31. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    i'm glad this is where the discussion is now
     
  32. Detlef Schrempf

    Detlef Schrempf Back to Back to Back AAU National Champs
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    It’s literally where it’s been the entire time. You’ve just been dbl’ing since noon in here.
     
  33. DriveByBBQ

    DriveByBBQ Well-Known Member
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    “Many of the bank’s deposits are sizable enough that they don’t carry Federal Deposit Insurance Corp. protection. SVB said it estimates that at the end of 2022 the amount of deposits in its U.S. offices that exceed the FDIC insurance limit was $151.5 billion.“
    -
    Wall Street Journal

    “Should’ve spread that over 606,000 individual $250k accounts”
    -Lyrtch
     
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  34. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    finding out half our finance tech bros just want to nationalize our banking system is a surprise tbh but a pleasant one

    i still don't reaaallllyyyyy believe them if they weren't currently fearing an impact on their own financial health
     
  35. kinghill

    kinghill Cool American Flavour
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    are any other banks in jeopardy of this collapse
     
  36. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    i was told individual investors was a minuscule fraction of those invested, now it's the entire balance?

    shifting landscape with news i guess
     
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  37. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    No banks that matter.
     
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  38. pperc

    pperc Well-Known Member
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    You joke but there are banks that offer up to $50M FDIC insured by doing exactly this
     
  39. Lyrtch

    Lyrtch My second favorite meat is hamburger
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  40. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    Do you not know the difference between investors and someone who deposits money with them?
     
  41. chuckmasterflex

    chuckmasterflex Attack and dethrone God
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    Biden clearly needs to put Giannis’s money guy on the Fed
     
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  42. Where Eagles Dare

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    He could have done this at one bank
     
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  43. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    sorry meant individuals depositing their money vs companies, which was obvious from context clues

    just zero ability to give a generous read i guess or have reading comprehension
     
  44. Where Eagles Dare

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    [​IMG]
     
  45. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    to state the obvious you're responding to my post that used wrong jargon while ignoring the post i was responding to that was fundamentally moronic even from your own stated position

    telling
     
  46. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    Jargon? Depositor/Client vs Investor isn't jargon
     
  47. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    Deflecting
     
  48. kinghill

    kinghill Cool American Flavour
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    say what
     
  49. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    Banks offer this service to high net worth people. Usually in short term CDs. You give a bank a million and they give 750 to 3 banks and spread around your money for you