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Discussion in 'The Mainboard' started by Menelaus, Mar 10, 2023.
K. Minny dbl
you and i both acknowledged i wrote the wrong word. its ok.
Yeah but you deflected and made an excuse that it wasn't your fault.
Take responsibility, right?
cool. so you're saying he didn't do this?
this is odd and embarrassing
Yes? He opened 50 bank accounts vs one?
you literally deleted a portion of my post saying im sorry and clarifying
we good tonight WED?
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.
We we're always good
Yes, I removed the part of you essentially saying "yeah BUT" and kept the after
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
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.
A normal human interaction didn't need an attempted condescending comment after admitting they were wrong when asked nicely.
Now you're just projecting about being "rev'd up"
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
And this fuck
Why do I need to correct someone else's post?
hah thank you for affirming the latter half of my post
hope you aren't too impacted by any of this champ
I'm not in banking or VC
newsflash: You don't have to be in banking or VC to be impacted by this.
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..
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
Govt profited like 2B from the Ally Bailout
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.
He’s one of those people who are low key insanely evil
This is literally the plot to Margin Call
So it begins. WEF buy out. One down, plenty to go to one bank and globalisation. Be afraid.
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.
I'm here for nationalization
Rippling ran payroll through SVB
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.
Jesus fucking christ
Didn't Blackrock just default on a $500 million loan this week too?
Go back to AFF we don’t need more shitpitters. Idiot shitcunt
which I’m sure is just as evil as blackrock
The fix is making people/companies insure their own risk past FDIC limits. It could be a federally subsidized insurance product.
Roku apparently has half a billion of their cash tied up in SVB
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…
I don’t engage with boring dullards aside from saying hey you suck
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
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.
This is basically just a wealth tax. Not that I’m against it.
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.
100% and the indignation posts are incredibly pathetic
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?
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.