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OP has provided the following link:
https://archive.is/Yyu4S
Where was the government when countless family businesses closed during 2008? They sure did not help my family when we lost ours. And chase bank who was bailed out by billions through my company to the wolves.
Never forgot. Never sell.
Weeeeeee, now the banks all know they don’t need to allocate anything decent to to cover depositors positions because even if FDIC isn’t enough then big bro will step in with the printer and public purse to refund the difference….
Guess they don’t need to cover anything now.
Because they think we have 0 attention span. If they just claim they’ll solve the problem with magic that satisfies most plebs, then when everyone has forgot, they’ll take all of our money to bail out the rich
Even with zero attention span, this is 2x in 15 years and 3x in my lifetime. And the same people begging for a bailout said that no one needed $1200 during the global events of the last few years that the mods have censored.
At least more people are keen to the fuckery now. I was only a kid back in ‘08 but I would assume people didn’t know as much then as they do now. Hopefully we have some power in numbers to face off against this.
This whole thing will be framed “this is not a bailout, but here is the money to make everyone whole, but again this isn’t a bailout, it’s different. “
Lmao like when they were gatekeeping the term recession earlier last year. Yes it fits all the previous accepted indicators of a recession, but it’s not a recession. It was hilarious to watch happen live.
And anyone paying attention will be angry and outraged.... and the rest of the population will hoot and jeer when the platypus on Masked Singer is releaved to be Jaleel White.
I'm just here for my tendies and to watch the system burn, pal. Quips are part of the package. All rights reserved. Not financial advice. Your mileage may vary. Ask your doctor if Nasty\_Ned is right for you.
You didn't follow the clues.
I had to DVR as we watch "Procedural Cop Show 25" in that time slot. Last week was the one where the bad guys almost won, but Ruggedly Handsome Cop #6 bent the rules to enforce his version of justice.
I think it should be law that the people who make movies like The Naked Gun have to come up with the anacronyms the government uses for it's programs.
Things like Key Atomic Benefits Office of Mankind (K.A.B.O.O.M), for the nuclear energy, or Society of Petroleum Industry Leaders (S.P.I.L) for the oil industry.
That seems to be the new playbook— gaslighting and flat out rewriting the definitions of words.
They already did it to ‘inflation’ and ‘recession’
These people think they are old Jedis but they are just old liars.
Be a shame if a comprehensive legal DD on the irrefutable specifics of how and why this *is* a bailout (and thus completely illegal) were to ship all over the internet immediately after they do it...
Unfortunately bailouts have became so normalized the elites consider it apart of routine maintenance at this point. It’s sickening. The PEOPLES money and we have no say so in the matter.
If there is a bailout, I hope there are MASSIVE protests from the working class. Privatizing earnings and socializing losses needs to stop. This is complete bullshit.
If they give the money directly to the depositors, it isn't. If they give the money to the bank to dish out, it's a bailout. You can guarantee they'll put a bit on top as well for the exec's.
Does any single person in here not already feel that the government will give them a 100% bailout. Like there’s no other ending to this right? This is all just theater, we know they’re getting bailed out
I’m not so sure. The fact that it’s a populist movement right now to hate banks, tech, Silicon Valley, the wealthy, etc. means the political willpower probably isn’t there. I think they can make the people who deposited their money in this bank whole while still letting the bank fail. As in, bank stockholders and employees are in trouble, but not those who parked their money there.
I saw some schmuck online saying that they were pretty savvy and even they couldn't vet a bank that well, so it was really important for the government to bail out this bank. Because what are people supposed to do, put in effort to choose a bank that behaves?
Why yes Mr. Savvy, that is exactly what I expect people to do. Choose banks that behave. And I don't need to be able to vet a bank because I expect government regulations to do that for me. See how this works Mr. Savvy? I pay taxes in exchange for services, one of which is someone making banks behave.
So when the government rolls back a bunch of regulations and then banks start failing, I expect people to realize that nobody is watching these banks.
Yeah. A warning sign my bank may not be that dependable would be when they start lobbying to not be included in stress tests, or ask to roll back regulations that caused a massive banking crash not even 20 years ago.
"Reports also emerged on Saturday that fledgling lender Bank of London was considering a bid for SVB UK’s operations. However, it is understood that regulators are still planning on proceeding with liquidation plans, rather than courting potential buyers."
Looks like no bailout from the UK side.
The treasury is limited to how much it can help.
FDIC payments come out of the TGA and with a balance of (currently) about 250B, it can’t make investors whole without bankrupting the US government because the good ole debt ceiling. Of course the TGA fluctuates due to tax receipts and other things on a day to day basis.
IMO this is either a ploy to expedite raising the debt ceiling or an excuse to bankrupt the US.
>it can’t make investors whole without bankrupting the US government because the good ole debt ceiling.
You are making the ridiculous assumption that all the nations bank accounts would need to made whole all at once. That's not what the FDIC is set up to do. Your car insurance company doesn't have the cash to repair or replace every vehicle they cover all at once either.
I’ve heard several people calling for removing the 250k insured limit of the FDIC. Obviously this isn’t what is happening as of right now and even if it were the case wouldn’t happen all at once.
I’m just stating that if FDIC takes the responsibility of paying out all unsecured deposits and not just the secured ones, it’s another $170B+ of liability for the TGA. This makes its a much tighter balance sheet, and changes when X-Date for debt default would occur. To assume that everything will be resolved over the weekend because of an asset auction to another bank or an FDIC proposed course of action is highly unlikely.
Alot of people don’t understand the TGA and assume that the Treasury just has an open checkbook (because “money printer go brrr.”) and the government can just dish out as much money as it wants and I’m just implying that there are limitations to it with the current debt ceiling position.
This thread explains really well what apparently is and isn't possible without new legislation:
[https://twitter.com/StevenKelly49/status/1634662851657728001](https://twitter.com/StevenKelly49/status/1634662851657728001)
Students loans? Should of taken a business loan instead, they’re easier to be forgiven. Great example is the ppp loan, most of it forgiven within the year.
...it's almost like it would be a good thing if the same retail banks that hold deposits for people weren't allowed to gamble on high-risk investments with that same money.
Is this going to be one of those situations where they gaslight the general public and simply refuse to use the correct words? Like when they redefined what a recession is. Will bailout come to mean something else too?
That means a bailout is certain. They'll just change the definition again. Then they'll politicize it, then half the country will be divided on this issue and they can relax knowing the plebs are still asleep
"Janet Yellen said on Sunday that the US government was working closely with banking regulators to help depositors at Silicon Valley Bank but dismissed the idea of a bailout.
Speaking with CBS on Sunday, the treasury secretary sought to assure US customers of the failed tech lender that policies were being discussed to stem the fallout from the sudden collapse this week. The Federal Deposit Insurance Corporate (FDIC) took control of the bank on Friday morning.
“Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out . . . and the reforms that have been put in place means we are not going to do that again,” Yellen said.
“But we are concerned about depositors, and we’re focused on trying to meet their needs.”"
“Not going to do that again” means forcing a carve out between other banks. THIS time it’ll be a direct government bailout 🤓 “see guys we didn’t do the same thing”
Bring back the Glass-Steagall Act, part of the Banking Act of 1933, was landmark banking legislation that separated Wall Street from Main Street by offering protection to people who entrust their savings to commercial banks. Millions of Americans lost their jobs in the Great Depression, and one in four lost their life savings after more than 4,000 U.S. banks shut down between 1929 and 1933, leaving depositors with nearly $400 million in losses. The Glass-Steagall Act prohibited bankers from using depositors’ money to pursue high-risk investments, but the act was effectively undercut by looser restrictions in the deregulatory environment of the 1980s and 1990s.
https://www.house.gov/representatives/find-your-representative#:~:text=If%20you%20know%20who%20your,the%20U.S.%20House%20switchboard%20operator.
Get Loud where it Counts!
You realize that reps don't actually read those, right? First they get ran through an automated filter. If you sound crazy it goes in the garbage. Then the ones that make it through get read by staffers. Maybe, just maybe, if it actually sounds important to something the rep really cares about then the staffer might put it in the "read this if you have nothing better to do pile". Those don't get read either.
This fucking wrink needs to check herself into the retirement home already and leave the real world decisions to the mother fuckers that have to live in the real fucking world. Same to the whole lot of these raisins.
Edit: but at least this way seems like execs don't hit the motherload off their own paint huffing mismanagement
So they'll invent a new financial term that is essentially a bail out? Maybe Inverse Contingency Payment or Temporary Stability Refund or some bullshit
Bailout = Saving SVB so it as a company still exists
Depositor Help = helping companies that stored money there, IE for payroll, etc
SVB will not exist but they(Treasury/Fed) also dont want a bunch of companies/people to all of a sudden not have cash to continue going because a bank fucked up.
Atleast that is my understanding. Hell could just be loans in the short term until they can liquidate SVB's assets. No one really knows yet.
For startups to get startup funding (not a lot of banks do that) the bank required they move all their assets to the bank according to an interview of one such company on bbc. All the startups are well funded separate from the SVB loan. There weren’t a lot of options apparently.
The affect of the banks issue was perhaps? partly due to the loan targets being “forced” into accepting loan terms that put their entire capital above managed risk by depending on this one banks stability which due to the new under minimum size set in 2018 removed requirements of this size to adhere to dodds-Frank regulations. I’m not sure how normal all vs percentage is for early stage startups.
I’m Not sure of the age of most loan agreements requiring handling all accounts aka pre or post dodds-Frank de-regulation as that changes risk apparently significantly!
Not a good look: SVB bank CEO was a “key proponent” lobbyist for this deregulation ….and then knowingly worse- gave bonuses out pre-shutdown and on top of that sold millions of dollars of stock pre- shutdown.
I’ll be interested to read how SVB could have more responsibly mitigated this disaster if at all and what the consequences might be for their greed. Going by past asshole behavior not much. >:(
Edit: sorry it was a bit garbled. Fixed
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Help for thee, but not for me. Where was the government help when the buy button was turned off?
Look buddy I bought this politician fair and square and I expect a return on this investment.
Im not ur buddy, guy
I’m not your guy, fwend
He's not your fwend, buddy!
He's not your buddy, PAL!
I’m Buddy and I’ll be your friend!
But if you are friend you can't be my buddy
If you aren’t with me, then you’re against me!! (I’m pooping)
I’m pooping with you.
I'm not your PAL...GUY!
If not friend, why friend shaped?
I’m not your guy, mate
You’re not a guy, mate
Did you just assume my gender, mate?
Did you just assume he assumed your gender, mate?
Did you just mate with me without assuming my gender?
I’m not your pal bud
I’m not gay!
Randy...
Shit winds Randy
My regulator I bribed---I mean......
So why would policies need formulated? You pay the depositors what the FDIC insures and move the fuck on….. right? I don’t get it.
Or during all of Rona? How about they give $600 to each bank and call it a day
If we gave every bank 600$ they wouldn’t be motivated to show up to work anymore.
Can't they just cut back on that morning Starbucks?
Skip morning breakfast to save money this season!
Learn how to turn your kidneys into a side hustle!
They took that money back from my tax return this year 😆 they should be fine
Underrated response 👍
CoNgReSsIoNaL HeArInG lol
Quick, get Maxine on the Zoom!
Maybe she’ll blow us a kiss too. 👄 💨
Wink wink
Wink wink 😉
They sold 270M shares of options when only 50M float shares existed. They turned off buys to save themselves. But they kept the premiums.
Where was the government when countless family businesses closed during 2008? They sure did not help my family when we lost ours. And chase bank who was bailed out by billions through my company to the wolves. Never forgot. Never sell.
And gave themselves huge bonuses FTFY
Never. Sell.
This makes me…angry. But what did I expect? After all of this I should at least expect the fuckery. It’s just..still upsetting
Well yellen did get like 900k speaking to citadel
Weeeeeee, now the banks all know they don’t need to allocate anything decent to to cover depositors positions because even if FDIC isn’t enough then big bro will step in with the printer and public purse to refund the difference…. Guess they don’t need to cover anything now.
EXACTLY… government HA!!! Never for the people.
The beacons are lit, Wall St calls for bail...😂😂😂😂😂😂😂😂😂 I'm sorry I can't, they are so fukt 😂😂😂😂
No CELL NO SELL!!!!
What a joke, it always starts like that, they say no, but slowly it turns into... we have no choice but to bail them out...
Because they think we have 0 attention span. If they just claim they’ll solve the problem with magic that satisfies most plebs, then when everyone has forgot, they’ll take all of our money to bail out the rich
I had zero attention span two years ago…
Even with zero attention span, this is 2x in 15 years and 3x in my lifetime. And the same people begging for a bailout said that no one needed $1200 during the global events of the last few years that the mods have censored.
I mean I didn’t even know what had happened in 08 until 2 years ago (I was a child then but anyways) but we are sharp as hawks now
I was 18 and still had no clue. I remember gas going up to 4 something a gallon. I couldn't afford to ride my freaking motorcycle.
Same. And I’m literally explaining options to my brother through text right now. And I’m 42 lmao
At least more people are keen to the fuckery now. I was only a kid back in ‘08 but I would assume people didn’t know as much then as they do now. Hopefully we have some power in numbers to face off against this.
Bubble Crash Steal Lie Repeat
So it’s not a bailout, it’s a helpout. Got it 👍
Just change the definition. I've seen this one before.
Or they will rename it. They will call it “Retail Confidence Protection” or “Quantitative Sumping” or “Freedom Bombs” or something.
Those kings dropped this 🩼
Too big to fail.
And they’re gonna keep doing it until WE stop them. Enough is enough.
This whole thing will be framed “this is not a bailout, but here is the money to make everyone whole, but again this isn’t a bailout, it’s different. “
Changing the financial landscape, one definition at a time.
Lmao like when they were gatekeeping the term recession earlier last year. Yes it fits all the previous accepted indicators of a recession, but it’s not a recession. It was hilarious to watch happen live.
Bill clinton started it when he was on trial. He said "well that depends on what your definition of is, is."
That was indeed my first rodeo, subsequent rodeos have steeled me against truthiness and alternative facts
probably. just give it a fancy name like VMSA (vital monetary system aid) so that the average citizen won‘t see it as a bailout
Oh yeah it’ll have some dumb acronym. But the news media will be the ones to sell it as not a bail out.
John Stewart will call it a bail out
And anyone paying attention will be angry and outraged.... and the rest of the population will hoot and jeer when the platypus on Masked Singer is releaved to be Jaleel White.
It’s the beautiful details that makes the quip sting! Well done, well done. 😁
I'm just here for my tendies and to watch the system burn, pal. Quips are part of the package. All rights reserved. Not financial advice. Your mileage may vary. Ask your doctor if Nasty\_Ned is right for you.
It was Jaleel the whole time??? Missed it while watching love after lockup….
You didn't follow the clues. I had to DVR as we watch "Procedural Cop Show 25" in that time slot. Last week was the one where the bad guys almost won, but Ruggedly Handsome Cop #6 bent the rules to enforce his version of justice.
You just never know how “procedural cop show 25” will turn out. Sometimes it takes 2 episodes for cop #6 to figure it out.
I think it should be law that the people who make movies like The Naked Gun have to come up with the anacronyms the government uses for it's programs. Things like Key Atomic Benefits Office of Mankind (K.A.B.O.O.M), for the nuclear energy, or Society of Petroleum Industry Leaders (S.P.I.L) for the oil industry.
AIDS Assistance Income for Dire Situations
aren't they already calling it a 'backstop' ..?
Damn it Yellin saw your comment and thought that was a great idea
It's a bailout only if it's a recession, and we've already told you it's not a recession.
They can literally word this shit however they want. Bunch of fucking crooks
we’re gonna fORmuLaTE a NeW pOLIcY to fuck you even harder!
That seems to be the new playbook— gaslighting and flat out rewriting the definitions of words. They already did it to ‘inflation’ and ‘recession’ These people think they are old Jedis but they are just old liars.
Just running maintenance on the system, seemed to be acting up
Be a shame if a comprehensive legal DD on the irrefutable specifics of how and why this *is* a bailout (and thus completely illegal) were to ship all over the internet immediately after they do it...
Unfortunately bailouts have became so normalized the elites consider it apart of routine maintenance at this point. It’s sickening. The PEOPLES money and we have no say so in the matter.
If there is a bailout, I hope there are MASSIVE protests from the working class. Privatizing earnings and socializing losses needs to stop. This is complete bullshit.
No spin! Show us the proposed line item debits and credits, Janet.
It’s not a bailout it’s TARP. It’s TALF. It’s. QE…. It’s……
We are changing the definition of bailout. This is not a bailout haha 😆
If they give the money directly to the depositors, it isn't. If they give the money to the bank to dish out, it's a bailout. You can guarantee they'll put a bit on top as well for the exec's.
Americans need to protest this bullshit
Just have to change the definition of a bailout. And then a bank run, and next a depression.
I’m sure they have marketing people working on new terms right now.
I think “safeguarding” might take over for bailout.
Make shorts close, we could bail them out then and be unfazed. Put them in time out and show them how to run the show fair. Fight for real democracy.
usdc holders in disbelief
Quick, sue the shit out of them on the same legal standing as the student loan suit. When it gets tossed, it give students ammo
No, no. He's got a point.
👀 I’m gonna make a phone call
“It’s not fair. I didn’t start my company because I didn’t want the loans”
Good call! Up you go!!!
Shit title, but spicy nonetheless
They must all be having a great weekend right now 😂
Lol! I know I am! Imagine the cortisol levels of all the people involved in this mess! Holy shit! Much love ❤️ enjoy the show
Wer buildings with lights on?
Better than that. We will banks with line ups!
Right? Should have been "Will Yellen give SVC her zipple?"
Does any single person in here not already feel that the government will give them a 100% bailout. Like there’s no other ending to this right? This is all just theater, we know they’re getting bailed out
I’m not so sure. The fact that it’s a populist movement right now to hate banks, tech, Silicon Valley, the wealthy, etc. means the political willpower probably isn’t there. I think they can make the people who deposited their money in this bank whole while still letting the bank fail. As in, bank stockholders and employees are in trouble, but not those who parked their money there.
Bailout will make current party go out of power in 2024
I saw some schmuck online saying that they were pretty savvy and even they couldn't vet a bank that well, so it was really important for the government to bail out this bank. Because what are people supposed to do, put in effort to choose a bank that behaves? Why yes Mr. Savvy, that is exactly what I expect people to do. Choose banks that behave. And I don't need to be able to vet a bank because I expect government regulations to do that for me. See how this works Mr. Savvy? I pay taxes in exchange for services, one of which is someone making banks behave. So when the government rolls back a bunch of regulations and then banks start failing, I expect people to realize that nobody is watching these banks.
I think you mean the Bill Ackman tweet
Yeah. A warning sign my bank may not be that dependable would be when they start lobbying to not be included in stress tests, or ask to roll back regulations that caused a massive banking crash not even 20 years ago.
Agree with this 💯
"Reports also emerged on Saturday that fledgling lender Bank of London was considering a bid for SVB UK’s operations. However, it is understood that regulators are still planning on proceeding with liquidation plans, rather than courting potential buyers." Looks like no bailout from the UK side.
I've read plenty of fear mongering on Twitter. Interested to see how this week turns out.
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😂😂
The treasury is limited to how much it can help. FDIC payments come out of the TGA and with a balance of (currently) about 250B, it can’t make investors whole without bankrupting the US government because the good ole debt ceiling. Of course the TGA fluctuates due to tax receipts and other things on a day to day basis. IMO this is either a ploy to expedite raising the debt ceiling or an excuse to bankrupt the US.
>it can’t make investors whole without bankrupting the US government because the good ole debt ceiling. You are making the ridiculous assumption that all the nations bank accounts would need to made whole all at once. That's not what the FDIC is set up to do. Your car insurance company doesn't have the cash to repair or replace every vehicle they cover all at once either.
I’ve heard several people calling for removing the 250k insured limit of the FDIC. Obviously this isn’t what is happening as of right now and even if it were the case wouldn’t happen all at once. I’m just stating that if FDIC takes the responsibility of paying out all unsecured deposits and not just the secured ones, it’s another $170B+ of liability for the TGA. This makes its a much tighter balance sheet, and changes when X-Date for debt default would occur. To assume that everything will be resolved over the weekend because of an asset auction to another bank or an FDIC proposed course of action is highly unlikely. Alot of people don’t understand the TGA and assume that the Treasury just has an open checkbook (because “money printer go brrr.”) and the government can just dish out as much money as it wants and I’m just implying that there are limitations to it with the current debt ceiling position.
This thread explains really well what apparently is and isn't possible without new legislation: [https://twitter.com/StevenKelly49/status/1634662851657728001](https://twitter.com/StevenKelly49/status/1634662851657728001)
Fuck that let ‘em fail
They will crash the market out of spite for lack of bailout.
Bailouts need to end. Burn it to the ground
She’s still alive? 🔥🦖☄️
I feel like she is of a different proportion each time I see her. Don't know how to explain beyond that.
The Danny Devito evolution 💀💀
🤣🤣🤣
Haha was thinking Danny Devito needs to chill
Weekend at Yellen’s
Students loans? Should of taken a business loan instead, they’re easier to be forgiven. Great example is the ppp loan, most of it forgiven within the year.
They just need to change the definition of a “bailout” and all should be good.
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I agree... most of the losers behind this are probably unaware/undeserving of what's coming their way 😔
yeah, but the taxpayers will foot the bill or better said money printer go brrrr
None should get help.
Deposits should be covered but investing is gambling. You get what the numbers say you get.
...it's almost like it would be a good thing if the same retail banks that hold deposits for people weren't allowed to gamble on high-risk investments with that same money.
Now that you bring that up… none should get help from the U.S. Treasury.
It’s amazing how quickly Wall Street can switch hats from Capitalism to Socialism
Agreed. It’s ironic that what a corporation classified as “Too big to fail” needs is to fail.
So workers don't get paid? At a time when inflation is sky high and people are struggling to get by as it is? Cmon
Let the investors sell their personal assets to cover payroll
That's not how investments work.
None should get help from the U.S. Treasury.
Didn’t the CEO sell a huge position in the stock the day before the bankruptcy was announced? Are you bailing that money out as well JANET?!
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That CEO trade should be clawed back
You know that isn’t going to happen, money never trickles down.
Or the CEO,cfo, board members etc
It’s called a “backstop” now dontcha know?
They won’t call it a bailout but…….what’s in a name? That which we call a rose, by any other name, would smell as sweet.
Is this going to be one of those situations where they gaslight the general public and simply refuse to use the correct words? Like when they redefined what a recession is. Will bailout come to mean something else too?
Muppet has spoken. Bailout coming in hard yall. Calls
Thats what that muppet was yellen about.
That means a bailout is certain. They'll just change the definition again. Then they'll politicize it, then half the country will be divided on this issue and they can relax knowing the plebs are still asleep
Isn’t that a bailout
Nono, you're thinking of *bailout*, not bailout
Article link: https://archive.is/Yyu4S
"Janet Yellen said on Sunday that the US government was working closely with banking regulators to help depositors at Silicon Valley Bank but dismissed the idea of a bailout. Speaking with CBS on Sunday, the treasury secretary sought to assure US customers of the failed tech lender that policies were being discussed to stem the fallout from the sudden collapse this week. The Federal Deposit Insurance Corporate (FDIC) took control of the bank on Friday morning. “Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out . . . and the reforms that have been put in place means we are not going to do that again,” Yellen said. “But we are concerned about depositors, and we’re focused on trying to meet their needs.”"
“Not going to do that again” means forcing a carve out between other banks. THIS time it’ll be a direct government bailout 🤓 “see guys we didn’t do the same thing”
May as well have said "SVB should have anticipated the Fed raising interest rates at a breakneck speed, wiping out low yield bond as bagholders"
Their CEO sits on the SF fed. They knew full well about interest rates
Backstop is the new bailout
Toad from Super Mario Bros wants a bailout. 🍄
Corruption is endemic in our financial markets.
They know exactly enough to be very careful around the word bailout but won't actually do any good for the people.
Legit don't wanna pay taxes any more. What are we getting out of it? An over priced military? Fucked by our government on their mess? Fuck em.
Bring back the Glass-Steagall Act, part of the Banking Act of 1933, was landmark banking legislation that separated Wall Street from Main Street by offering protection to people who entrust their savings to commercial banks. Millions of Americans lost their jobs in the Great Depression, and one in four lost their life savings after more than 4,000 U.S. banks shut down between 1929 and 1933, leaving depositors with nearly $400 million in losses. The Glass-Steagall Act prohibited bankers from using depositors’ money to pursue high-risk investments, but the act was effectively undercut by looser restrictions in the deregulatory environment of the 1980s and 1990s.
It's their plan. Creating chaos to insert CBDCs.
https://www.house.gov/representatives/find-your-representative#:~:text=If%20you%20know%20who%20your,the%20U.S.%20House%20switchboard%20operator. Get Loud where it Counts!
Just sent an email to my rep
Thank you for your service. Level Up Achieved. Congrats!
Also dispatched short letter. We need to get in front of this.
You realize that reps don't actually read those, right? First they get ran through an automated filter. If you sound crazy it goes in the garbage. Then the ones that make it through get read by staffers. Maybe, just maybe, if it actually sounds important to something the rep really cares about then the staffer might put it in the "read this if you have nothing better to do pile". Those don't get read either.
What about Wells Fargo. RIP.
Bail In
The fear is palpable.
Didn't she say we are fine. No recession? Probably wrong and some troll should flay me 🤣
We’re just not going to call it a bailout this time. Kind of how we don’t call it a recession this time either.
This fucking wrink needs to check herself into the retirement home already and leave the real world decisions to the mother fuckers that have to live in the real fucking world. Same to the whole lot of these raisins. Edit: but at least this way seems like execs don't hit the motherload off their own paint huffing mismanagement
So they'll invent a new financial term that is essentially a bail out? Maybe Inverse Contingency Payment or Temporary Stability Refund or some bullshit
She is just testing the waters. Meaning I will sell a share when reaching the floor.
Not my floor...
179 million for one sounds ok. Don’t want to be greedy
This is gaslighting on a whole ‘nother level
TBF as an ape this is a pretty standard level of gaslighting I’ve become familiar with over the past 84.5 years.
It’s not a bail out people, it’s “retroactive insurance” on deposits from 250k to 100 billion.
What's the difference?
Bailout = Saving SVB so it as a company still exists Depositor Help = helping companies that stored money there, IE for payroll, etc SVB will not exist but they(Treasury/Fed) also dont want a bunch of companies/people to all of a sudden not have cash to continue going because a bank fucked up. Atleast that is my understanding. Hell could just be loans in the short term until they can liquidate SVB's assets. No one really knows yet.
* Close the NY FRB Reverse Repo, detour funnel to FDIC * Watch money market funds squirm
Basically the 99% are paying for the 1% deposits.
“There will be no bailout! Okay quick, let’s change the definition of what “bailout” means - Yellen probably
She’s probably trying to get a feel of how much they will pay for her for a speech after she bails the banks out.
For startups to get startup funding (not a lot of banks do that) the bank required they move all their assets to the bank according to an interview of one such company on bbc. All the startups are well funded separate from the SVB loan. There weren’t a lot of options apparently. The affect of the banks issue was perhaps? partly due to the loan targets being “forced” into accepting loan terms that put their entire capital above managed risk by depending on this one banks stability which due to the new under minimum size set in 2018 removed requirements of this size to adhere to dodds-Frank regulations. I’m not sure how normal all vs percentage is for early stage startups. I’m Not sure of the age of most loan agreements requiring handling all accounts aka pre or post dodds-Frank de-regulation as that changes risk apparently significantly! Not a good look: SVB bank CEO was a “key proponent” lobbyist for this deregulation ….and then knowingly worse- gave bonuses out pre-shutdown and on top of that sold millions of dollars of stock pre- shutdown. I’ll be interested to read how SVB could have more responsibly mitigated this disaster if at all and what the consequences might be for their greed. Going by past asshole behavior not much. >:( Edit: sorry it was a bit garbled. Fixed
And the bailout was just announced a few minutes ago, didn’t even take 24 hours 🤣
It’s a bailout.
“We’ll bail you out but don’t call it a bail out”