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Discussion in 'The Mainboard' started by Menelaus, Mar 10, 2023.
WHAT ABOUT BENGHAZI?!
its heart warming to know that despite being dead for years Charlies Daniels is still keeping us aware of Benghazi
One is a bank and one is crypto?
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
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.
Silvergate is a bank. There is very little difference in what caused insolvency, and technically Silvergate threw in the towel before becoming insolvent.
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)
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.
Is this fafo
Let us know if it gets paid (doubtful)
Neat little system
Cue lyrtch “it doesn’t matter”
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.
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.
Apparently she should have done some due diligence and need to break out her bootstraps and accept responsibility
Help me understand why the money printers aren’t going brrrrrrrrrrrr
j pow is a fucking trump stooge hellbent on nuking the economy to ensure a trump victory in 24
You are an idiot.
as an admirer of your work i welcome this
we've gone through this. i hope you support and advocate for nationalized banking going forward.
Working on it
The steering wheel is already off
We effectively are as long as we aren't bailing out investors
thats just charging the public for losses without any upside
not even close
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!
Fuckin legend, mate.
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
i'm glad this is where the discussion is now
It’s literally where it’s been the entire time. You’ve just been dbl’ing since noon in here.
“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”
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
are any other banks in jeopardy of this collapse
i was told individual investors was a minuscule fraction of those invested, now it's the entire balance?
shifting landscape with news i guess
No banks that matter.
You joke but there are banks that offer up to $50M FDIC insured by doing exactly this
Do you not know the difference between investors and someone who deposits money with them?
Biden clearly needs to put Giannis’s money guy on the Fed
He could have done this at one bank
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
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
Jargon? Depositor/Client vs Investor isn't jargon
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