Silicon Valley Bank is Dead

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

  1. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    K. Minny dbl
     
  2. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    you and i both acknowledged i wrote the wrong word. its ok.
     
  3. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    Yeah but you deflected and made an excuse that it wasn't your fault.

    Take responsibility, right?
     
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  4. kinghill

    kinghill Cool American Flavour
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    cool. so you're saying he didn't do this?
     
  5. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    i did

    this is odd and embarrassing
     
  6. Where Eagles Dare

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    Yes? He opened 50 bank accounts vs one?
     
  7. Where Eagles Dare

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    Deflecting responsibility
     
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  8. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    you literally deleted a portion of my post saying im sorry and clarifying

    we good tonight WED?
     
  9. kinghill

    kinghill Cool American Flavour
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    It's late and I'm probably not following well.
    If you're telling me opening 1 bank account for your 12.5 million dollars is 100% just as safe and secure as opening 50 bank accounts... then I'll just take you're word for it at this hour. Keep in mind the only thing I'm thinking is SVB craziness with the timing of that tweet.
     
  10. Where Eagles Dare

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    We we're always good <3

    Yes, I removed the part of you essentially saying "yeah BUT" and kept the after
     
  11. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    yes acknowledging and clarifying the mistake before saying it was an obvious mistake due to the context of what was being discussed if you weren't rev'd up already for ??? reasons

    a normal human interaction, escaping your grasp
     
  12. Where Eagles Dare

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    Many individuals (not corporations) hold >250k in a bank. They want that safe, but don't need it to be immediately liquid. So it's not 12.5 in one checking account. It's usually in a short term CD that is distributed out to a network of banks.

    Larger corporations have much higher needs for liquid funds and due to payroll, expenses, etc can't have their 10mm cash flow across 40 accounts.
     
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  13. Where Eagles Dare

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    A normal human interaction didn't need an attempted condescending comment after admitting they were wrong when asked nicely.
     
  14. Where Eagles Dare

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    Now you're just projecting about being "rev'd up"
     
  15. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    still waiting for you to correct the obviously moronic post i was responding to, but we all know why you're positioning yourself in this spot
     
  16. user15000

    user15000 Well-Known Member

    Jan 2023



    And this fuck

     
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  17. Where Eagles Dare

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    Why do I need to correct someone else's post?
     
  18. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    hah thank you for affirming the latter half of my post

    hope you aren't too impacted by any of this champ
     
  19. Where Eagles Dare

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    I'm not in banking or VC :idk:
     
  20. kinghill

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    newsflash: You don't have to be in banking or VC to be impacted by this.
     
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  21. Where Eagles Dare

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    If you read his posts about "Finance and Tdch Bros" in addition to people needing better due diligence about the bank that hold their deposits..
     
  22. kinghill

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    Speaking of due diligence regarding the banks that hold deposits... my dumb ass didn't even realize Ally Financial was a prior huge failure and was bailed out.

    So what's the worst that could happen? They fail again? lol
     
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  23. Where Eagles Dare

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    They'll learn!
     
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  24. Where Eagles Dare

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    Govt profited like 2B from the Ally Bailout
     
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  25. chuckmasterflex

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    https://en.wikipedia.org/wiki/Jake_Butcher
    One my my dad’s patients was one of the higher ups when the Butcher bank went tits up. Did 10 years in federal prison, but he was good with numbers and personable so he got in with some Italians and no one fucked with him.
     
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  26. CaneKnight

    CaneKnight FSU Private Board's Fav Poster
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    He’s one of those people who are low key insanely evil
     
  27. Bruce Wayne

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    This is literally the plot to Margin Call
     
  28. Control

    Control Agent 86
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    So it begins. WEF buy out. One down, plenty to go to one bank and globalisation. Be afraid.
     
  29. Jay Jay Okocha

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    So my reading of this is that deposit holders take a 12.5% write down on their deposits. Problem is how quickly they can get access to those funds to meet payroll obligations given the time it takes to unwind?

    I’m sure most can weather a write down to that degree, why would the government protect all deposits? Their role here should be the speed the wind down up, which is what they appear to be doing.
     
  30. ashy larry

    ashy larry from ashy to classy
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  31. CaneKnight

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    I'm here for nationalization
     
  32. Fancy

    Fancy thanks, i hate it
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    Rippling ran payroll through SVB
     
  33. CaneKnight

    CaneKnight FSU Private Board's Fav Poster
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    Peasants don't deserve handouts. Lazy piece of shit, only our overlord billionaires deserve socialism. The rest of you can rot in the fucking gutter where you belong.
     
  34. CaneKnight

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    Jesus fucking christ
     
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  35. Bruce Wayne

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    Didn't Blackrock just default on a $500 million loan this week too?
     
  36. Name P. Redacted

    Name P. Redacted I have no money and I'm also gay
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    Go back to AFF we don’t need more shitpitters. Idiot shitcunt
     
  37. Name P. Redacted

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    Absolute dumbass.
     
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  38. CaneKnight

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    *blackstone

    which I’m sure is just as evil as blackrock
     
  39. wes tegg

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    The fix is making people/companies insure their own risk past FDIC limits. It could be a federally subsidized insurance product.
     
  40. Where Eagles Dare

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    Roku apparently has half a billion of their cash tied up in SVB
     
  41. user15000

    user15000 Well-Known Member

    Lol. Like it’s historically normal for the fed to be in this position. Like we aren’t at the end of a long debt cycle. Like we aren’t at the end of a 40+ year bull market in bonds. Go ahead and explain why the math in that thread is wrong. I’ll wait…
     
  42. Name P. Redacted

    Name P. Redacted I have no money and I'm also gay
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    I don’t engage with boring dullards aside from saying hey you suck
     
  43. user15000

    user15000 Well-Known Member

    Cool. The thread’s conclusion is that this doesn’t even matter for the fed. But you didn’t read that because you’re a dumbass
     
  44. herb.burdette

    herb.burdette Meet me at the corner of 8th and Worthington
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    The government’s role should have been on the front end, reviewing risk assessment in their role as regulator.

    The exchange we make for insuring these deposits is oversight.

    At least that’s how it’s supposed to work.
     
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  45. Arrec Bardwin

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    This is basically just a wealth tax. Not that I’m against it.
     
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  46. pperc

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    The bank has already failed and is dead and is under federal control. Any bailout would be going to the depositors in this case. Is that different than what’s being proposed by directly bailing out “the workers”? As an aside, the ceo of SVB may end up in jail.
     
  47. pperc

    pperc Well-Known Member
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    100% and the indignation posts are incredibly pathetic
     
  48. Name P. Redacted

    Name P. Redacted I have no money and I'm also gay
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    Fox News has the 143 year old Home Depot founder on and he’s calling svb a woke bank and that’s why it failed. Finance guys please tell me if this is true, were they just too damn woke?
     
  49. JGator1

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  50. herb.burdette

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    For individuals, if your money is in a FDIC member bank, then it’s insured up to $250,000.

    If you invest with a SPIC broker, your account is insured up to $500,000.

    There are a lot of credit risk insurance products on the private market for other transactions, but those two are going to cover most small individuals.

    SVB failed because it didn’t have enough liquidity. Large clients began to pull their money in a classic It’s A Wonderful Life run on the bank.

    SVB sold US treasuries initially to meet liquidity. SVB tried to sell stock and the sale collapsed, which then put the run in hyperdrive and regulators took it over.

    It’s a regulatory failure. The bank wasn’t holding enough liquid assets to cover its deposit obligations.
     
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