Silicon Valley Bank is Dead

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

  1. NothingIsOT

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    I bought PACW at $6.55 and sold at $8.70. I wasn’t going to hold it overnight. Looks like I missed the run to $13.32 where the real money is made. Such bullshit we can’t trade overnight.
     
  2. harvey birdman

    harvey birdman Ha ha! Last laugh.
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    If a bank that holds your mortgage fails, is your mortgage in limbo, must it be transferred to another entity?

    I understand this is probably a stupid question.
     
  3. pperc

    pperc Well-Known Member
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    It’ll get sold to someone else
     
  4. NoNatty

    NoNatty Keyboard Cowboy
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    EAD4C44D-6938-4223-8CCD-4A562B9B4B20.gif
     
  5. Bo Pelinis

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    But did you consider maybe someone looked at their financials over night?!
     
  6. Keef

    Keef Liked by Pierre Gasly
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    Congrats on the free house
     
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  7. rulethirty

    rulethirty UCF and Alabama are basically peers.
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  8. Upton^2

    Upton^2 blocked just a park away, but I can't really say
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  9. Redav

    Redav One big ocean
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    Yeah I think that falls under Section 2 of Finders Keepers Losers Weepers
     
  10. Name P. Redacted

    Name P. Redacted I have no money and I'm also gay
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    Aka data harvesting its users. One of the reasons I dropped them. The hardware isn’t even that impressive anymore.
     
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  11. dblplay1212

    dblplay1212 Well-Known Member
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    Does the bank hold the mortgage? More likely it's a Fannie Mae, Freddie Mac, of FHA loan and that bank just services it. Either way, it'll be transferred to another bank or servicer.
     
  12. Deuce

    Deuce Well-Known Member
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    Most banks hold and service larger mortgages.
     
  13. dblplay1212

    dblplay1212 Well-Known Member
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    Sure, bc they are over conventional limits. The vast majority of loans aren't held by banks though.
     
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  14. herb.burdette

    herb.burdette Meet me at the corner of 8th and Worthington
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    Mortgages have an assignment clause in the agreement which allows the contract to be sold. The bank who issued your mortgage can sell it to third parties.

    My home mortgage was owned by Washington Mutual in the 2000’s and then became a Wells Fargo mortgage when they dissolved.
     
  15. The B1G Kucktis

    The B1G Kucktis 2 years, VARSITY!!
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    Fucking hilarious how loosely the chud street journal is throwing around bailout today and would refuse to use that terminology in 2008.

    :babyneedabottle:
     
  16. Jay Jay Okocha

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    Markets up on the CPI data.

    It’s why I find it difficult to see the Fed dramatically reversing course on rates. I can see them not going ahead with a two bp rise but would he surprised if they didn’t go with one.

    What message are you sending if you don’t?
     
  17. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    55% today. Diamond Hands! :rocket:
     
  18. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    that we don't know what the ripple effects of SVB are so pausing is the right thing to do on top of still cooling CPI data
     
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  19. Whammy

    Whammy Donde es
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    Got an email from our Banker (South State Bank)…the comparisons he draws on average deposit size is pretty wild

    C7E236BD-3AE0-4426-AC7B-409376CEA8CB.png
     
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  20. Jay Jay Okocha

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    But that undermines the message that this is a relatively isolated event? If the Fed are incapable of putting rates up to what are relatively normal ones historically without that system falling over- what can they do?

    To me the later reaction or the large cap stocks shows what this really is- an isolated incident. Some ripple effects in smaller companies shitting it over their lack of treasury functions but in reality the Government have said now that they will stand behind depositors of all types. What’s an interest rate rise really going to do to that?

    To be clear I’m pretty doveish on inflation and thought the aggressive double bp rise mooted was nuts.
     
  21. Gritty Badger

    Gritty Badger Well-Known Member
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    nah can't do that too many workers who'd rather not have a job than pay $2 more for a dozen eggs
     
  22. elfrid

    elfrid he thinks the carpet pissers did this?
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    go pacw go!
     
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  23. Pile Driving Miss Daisy

    Pile Driving Miss Daisy It angries up the blood
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    How much do you actually make off a 33% increase when you have to pay short-term capital gains tax?
     
  24. Bricktop the white

    Bricktop the white Well-Known Member

    I'm still raking in tendies on KRE but watching pacw makes me real jealous.
     
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  25. Whammy

    Whammy Donde es
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  26. NothingIsOT

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    If I understand you correctly.

    $220 my capital gain x my marginal tax rate. Which I won’t disclose. Let’s call it the 24%. But I’m not holding it till March 14, 2024 and running the risk of getting imploded to save 9% taxes from the switch of short term to long term. All thinks being equal it’s $168 net profit vs. $187 net profit (assuming same stock price YoY). I’ll take the $19 loss to ensure I’m not risking holding too long. If I’m playing something for a trade I don’t like to hold overnight unless I have perfect conviction. It’s just a rigged game to play overnight with market makers.
     
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  27. Pile Driving Miss Daisy

    Pile Driving Miss Daisy It angries up the blood
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    I actually pulled up a calculator and was shocked that, unless you've got tens of thousands in gains and put down a huge amount of money, the short-term capital gains taxes (for me at least) were shocking not that much more than holding for a year. I was led to believe that it was a huge difference with all the stock I was granted with my company. :idk:
     
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  28. NothingIsOT

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    Should probably put a trailing stop limit on that, if you haven’t already. Just so you don’t have to watch the stock.
     
  29. Bricktop the white

    Bricktop the white Well-Known Member

    im watchin the line go up
     
  30. Lyrtch

    Lyrtch My second favorite meat is hamburger
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  31. BudKilmer

    BudKilmer Well-Known Member
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  32. Detlef Schrempf

    Detlef Schrempf Back to Back to Back AAU National Champs
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    I can’t believe you unless you disclose your marginal tax rate
     
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  33. Arrec Bardwin

    Arrec Bardwin La Araña Discoteca
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    My marginal tax rate is 0%, AMA.
     
  34. Killy Me Please

    Killy Me Please I lift things up and put people down.
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    #NothingWillComeOfThis
     
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  35. NothingIsOT

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    I’m trying to get my accountant to file my taxes as head of household. Routinely sleeping in your mom’s bed should be proof enough.
     
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  36. Detlef Schrempf

    Detlef Schrempf Back to Back to Back AAU National Champs
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    Still hard for me to believe anything without a verified marginal tax bracket
     
  37. ~ taylor ~

    ~ taylor ~ Well-Known Member
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    I don't think you want any more information about your mom's "bracket."
     
  38. Detlef Schrempf

    Detlef Schrempf Back to Back to Back AAU National Champs
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    Only moms bracket I’m familiar with is EdmondDantes moms
     
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  39. chuckmasterflex

    chuckmasterflex Attack and dethrone God
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  40. Bruce Wayne

    Bruce Wayne Billionaire Playboy
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  41. BudKilmer

    BudKilmer Well-Known Member
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    I hate Dave Ramsey with the heat of an exploding sun
     
  42. Deuce

    Deuce Well-Known Member
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    He has the greatest business model ever created.

    Get people who are bad with money to give you money.
     
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  43. Redav

    Redav One big ocean
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    I relate to the way he says "playas"
     
  44. BP

    BP Bout to Regulate.
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  45. timo

    timo g'day, mate
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    Easily my favorite furniture meme account on the gram these days
    :twocents:

    (no srsly, this account is great)
     
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  46. Name P. Redacted

    Name P. Redacted I have no money and I'm also gay
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    Ramsay sucks ass but honestly did a good job explaining it.
     
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  47. Bert Handsome

    Bert Handsome I'm sorry, the card says Moops
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  48. Can I Spliff it

    Can I Spliff it Is Butterbean okay?
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