FDIC Takes Control of Silicon Valley Bank After Its Collapse!

[Reagan]

More from the JoeBama economy!

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[DonTheCon2024]

Corporate greed 101

Now get ready for the corporate bailout boys.. incoming literal free money under the guise of “protecting jobs”. But god forbid Joe Schmoe down the street on welfare gets an extra $100/month to buy himself steak and shrimp 

[Unwoke]

😎

[Reagan]

 

[Reagan]

For Sale – Woke Bank Clunker, Must Move ASAP: FDIC Rushes Silicon Valley Bank to the Financial Scrapyard to Auction it Off for Parts Today!   Again, Go Woke -- Go Broke!!

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[DonTheCon2024]

22 hours ago, Reagan said:

For Sale – Woke Bank Clunker, Must Move ASAP: FDIC Rushes Silicon Valley Bank to the Financial Scrapyard to Auction it Off for Parts Today!   Again, Go Woke -- Go Broke!!

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Now what does “go woke” even have to do with this?

You just read the headlines but have literally no idea what you’re talking about, as usual. The bank failed at hedging or mitigating interest rate risk which led to a run on the banks as the bonds were MTM at a loss. 
 

Typical low IQ red hatter 🤡

[Reagan]

2 hours ago, DonTheCon2024 said:

Now what does “go woke” even have to do with this?

You just read the headlines but have literally no idea what you’re talking about, as usual. The bank failed at hedging or mitigating interest rate risk which led to a run on the banks as the bonds were MTM at a loss. 
 

Typical low IQ red hatter 🤡

Listen to Kennedy's section.  She said:  "Chief Risk Officer was more interested in telling their personal narrative about sexuality (sodomitic behavior I'm sure), immigration status and creating safe spaces for workers at the company.  Actually a safe place is a well run bank where my money isn't going to dissolve if people start to panic!"  And, I'm sure, these are only a few of many of the "wokeness" being infused instead of letting free market principles dictate paths forward!

[baddog]

1 hour ago, Reagan said:

Listen to Kennedy's section.  She said:  "Chief Risk Officer was more interested in telling their personal narrative about sexuality (sodomitic behavior I'm sure), immigration status and creating safe spaces for workers at the company.  Actually a safe place is a well run bank where my money isn't going to dissolve if people start to panic!"  And, I'm sure, these are only a few of many of the "wokeness" being infused instead of letting free market principles dictate paths forward!

Man, you gotta stop hitting them with facts. The only comeback is name calling. The fence riders must always “FEEL” superior. You might as well have slapped him in the face with a dead fish. Lmao

[thetragichippy]

During Covid I opened an ETRADE account and over several months I purchased modest amount of several stocks I knew would bounce back. From there I have been buying stocks on the dips. It has worked out great, I have a bunch of stocks now in bite size pieces, so if one or five were to tank, I'm still good. This stock has nothing to do with my retirement plan, but even today I'm up 20% in total gain. Before Biden tanked it, I was closer to 50% gain. 

Today I bought a few of Western Alliance Bancorp (WAL) for $19.93(about 60% down from the bank run scare), and it looks like it will close today at around $26.00.  This was a $76.00 stock a week ago. 

[DonTheCon2024]

3 hours ago, Reagan said:

Listen to Kennedy's section.  She said:  "Chief Risk Officer was more interested in telling their personal narrative about sexuality (sodomitic behavior I'm sure), immigration status and creating safe spaces for workers at the company.  Actually a safe place is a well run bank where my money isn't going to dissolve if people start to panic!"  And, I'm sure, these are only a few of many of the "wokeness" being infused instead of letting free market principles dictate paths forward!

 

1 hour ago, baddog said:

Man, you gotta stop hitting them with facts. The only comeback is name calling. The fence riders must always “FEEL” superior. You might as well have slapped him in the face with a dead fish. Lmao

Free market principals? Man what they did was completely free market. No one held a gun to their head and made them buy “woke” U.S. treasuries without hedging interest rate risk.

You guys watch a Fox News clip (lol) and think you’re experts. They’re selling confirmation bias and you eat it up. 

Edited March 13, 2023 by thetragichippy
Personal attacks - I deleted 2.5 sentences and didn't change the meaning......

[thetragichippy]

17 minutes ago, DonTheCon2024 said:

They’re selling confirmation bias and you eat it up like the suckers you are. Thats why most of you are broke, and will stay broke. All this internet babbling but you really need to go back to school 

Dude, didn't you just get a vacation for personal attacks? Do you need more time to learn how to chat without insults?

[baddog]

1 hour ago, thetragichippy said:

During Covid I opened an ETRADE account and over several months I purchased modest amount of several stocks I knew would bounce back. From there I have been buying stocks on the dips. It has worked out great, I have a bunch of stocks now in bite size pieces, so if one or five were to tank, I'm still good. This stock has nothing to do with my retirement plan, but even today I'm up 20% in total gain. Before Biden tanked it, I was closer to 50% gain. 

Today I bought a few of Western Alliance Bancorp (WAL) for $19.93(about 60% down from the bank run scare), and it looks like it will close today at around $26.00.  This was a $76.00 stock a week ago. 

That’s good thinking. I did well under Trump with my 401K. I was in high risk. Glad I pulled it all out before Biden robbed it all.

[Reagan]

Failed Silicon Valley Bank Touted 'Empathy,' 'Diversity,' 'Transition to a Low-Carbon World'!  From the article:  "

SVB's 66-page ESG report lays out the following social justice initiatives that were important to the bank, which mainly served technology startups:

-- Engaging and Empowering Employees: Our people are key to our success, and we invest to support their growth and well-being.

-- Building a Culture of Diversity, Equity and Inclusion at SVB: We embrace diverse perspectives and foster a culture of belonging.

-- Championing Inclusion in the Innovation Economy: We are committed to advancing inclusion and opportunity in the innovation economy.

-- Supporting Communities Where We Live and Work: We invest in and give back to the community to help those in need.

-- Advancing the Transition to a Sustainable, Low-Carbon World: We support companies driving positive environmental change while reducing our own carbon footprint.

-- Practicing Responsible Corporate Governance: We uphold ethical standards and act with transparency and accountability.

What about a 'sustainable' balance sheet?

Vivek Ramaswamy, a 2024 presidential Republican candidate, says he would not bail out Silicon Valley Bank, if it were up to him.

Ramaswamy said: ""However, here's a couple observations I will make. Silicon Valley Bank just last year made a $5 billion commitment to sustainable finance to ensure a better and more sustainable planet. If they had actually sought for a more sustainable balance sheet, they would have better done their job.""

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[Unwoke]

7 hours ago, Reagan said:

Failed Silicon Valley Bank Touted 'Empathy,' 'Diversity,' 'Transition to a Low-Carbon World'!  From the article:  "

SVB's 66-page ESG report lays out the following social justice initiatives that were important to the bank, which mainly served technology startups:

-- Engaging and Empowering Employees: Our people are key to our success, and we invest to support their growth and well-being.

-- Building a Culture of Diversity, Equity and Inclusion at SVB: We embrace diverse perspectives and foster a culture of belonging.

-- Championing Inclusion in the Innovation Economy: We are committed to advancing inclusion and opportunity in the innovation economy.

-- Supporting Communities Where We Live and Work: We invest in and give back to the community to help those in need.

-- Advancing the Transition to a Sustainable, Low-Carbon World: We support companies driving positive environmental change while reducing our own carbon footprint.

-- Practicing Responsible Corporate Governance: We uphold ethical standards and act with transparency and accountability.

What about a 'sustainable' balance sheet?

Vivek Ramaswamy, a 2024 presidential Republican candidate, says he would not bail out Silicon Valley Bank, if it were up to him.

Ramaswamy said: ""However, here's a couple observations I will make. Silicon Valley Bank just last year made a $5 billion commitment to sustainable finance to ensure a better and more sustainable planet. If they had actually sought for a more sustainable balance sheet, they would have better done their job.""

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Everything Woke Turns to 💩! Including DontheCon2024’s Post!

Woke banks will fail.
Woke people will fail. 
Woke schools will fail.
Woke companies will fail.
Woke governments will fail.
Woke cities will fail.
Woke militaries will fail. 
Woke churches will fail. 

Everything woke turns to 💩!

[Bobcat1]

16 hours ago, Reagan said:

Listen to Kennedy's section.  She said:  "Chief Risk Officer was more interested in telling their personal narrative about sexuality (sodomitic behavior I'm sure), immigration status and creating safe spaces for workers at the company.  Actually a safe place is a well run bank where my money isn't going to dissolve if people start to panic!"  And, I'm sure, these are only a few of many of the "wokeness" being infused instead of letting free market principles dictate paths forward!

I read they didn't have a CRO for a while.... 

[CardinalBacker]

The best part of the whole thing is how this is actually a result of fiscal policy in the pandemic era.  The tech firms that were the primary depositors in SVB got PPP loans... that swelled the balance sheets at SVB and they needed to park that money somewhere.  They bought securities at low interest rates, then inflation happened across the economy as a whole... the solution was for the Fed to raise interest rates, then suddenly SVB was paying more in interest on funds on deposit than they were making on the securities that were purchased.

Long story short... the government dumped tons of cash into the economy which ended up in banks like SVB, then inflation happened, then the solution to inflation was to raise interest rates, and now the banks are failing because of that chain of events.  

We literally dumped Trillions into the economy re: Covid and now we're about to drop billions more to fix the problems caused by the initial dumping.  This scenario last happened in the early 80s when inflation and interest rates went wild.  The bad news is guys who were around at that point are all dead or retired in 2023. 

[baddog]

25 minutes ago, CardinalBacker said:

The best part of the whole thing is how this is actually a result of fiscal policy in the pandemic era.  The tech firms that were the primary depositors in SVB got PPP loans... that swelled the balance sheets at SVB and they needed to park that money somewhere.  They bought securities at low interest rates, then inflation happened across the economy as a whole... the solution was for the Fed to raise interest rates, then suddenly SVB was paying more in interest on funds on deposit than they were making on the securities that were purchased.

Long story short... the government dumped tons of cash into the economy which ended up in banks like SVB, then inflation happened, then the solution to inflation was to raise interest rates, and now the banks are failing because of that chain of events.  

We literally dumped Trillions into the economy re: Covid and now we're about to drop billions more to fix the problems caused by the initial dumping.  This scenario last happened in the early 80s when inflation and interest rates went wild.  The bad news is guys who were around at that point are all dead or retired in 2023. 

Of the $1.6 trillion BBB plan, $550 billion went to climate change, or laundered and into someone’s hip pocket. I think some of that money helped it snow in California.  Please explain how these trillions get injected into the “economy”. I would really like to know since I’m not a banking guru. 

[Bobcat1]

6 minutes ago, baddog said:

Of the $1.6 trillion BBB plan, $550 billion went to climate change, or laundered and into someone’s hip pocket. I think some of that money helped it snow in California.  Please explain how these trillions get injected into the “economy”. I would really like to know since I’m not a banking guru. 

$800 billion was PPP loans.  It was "free" money. I took 200+ PPP loan application and submitted them to the SBA - Anyone actually read exactly what the funds could be used for? 

Example - If you were a 1099 employee and made over $100,000, you could get $20,400 even if you were still working, which I'd say 95% of the loans I did, they were all still employed. They "paid" themselves and it was forgiven. All they had to do was write a check to themselves and add PAYROLL to the memo and when submitted to SBA, it was forgiven. 

I've read several places that only 33% of the PPP loans went to actual employees. 

Stimulas checks - that was another $814 billion.  

Inflation was caused by too much money being injected into the economy, there was not enough supply for the demad. 

 

Not sure where the $550 billion you're speaking of came from. 

 

[baddog]

35 minutes ago, Bobcat1 said:

$800 billion was PPP loans.  It was "free" money. I took 200+ PPP loan application and submitted them to the SBA - Anyone actually read exactly what the funds could be used for? 

Example - If you were a 1099 employee and made over $100,000, you could get $20,400 even if you were still working, which I'd say 95% of the loans I did, they were all still employed. They "paid" themselves and it was forgiven. All they had to do was write a check to themselves and add PAYROLL to the memo and when submitted to SBA, it was forgiven. 

I've read several places that only 33% of the PPP loans went to actual employees. 

Stimulas checks - that was another $814 billion.  

Inflation was caused by too much money being injected into the economy, there was not enough supply for the demad. 

 

Not sure where the $550 billion you're speaking of came from. 

 

Before the 2022 mid terms. 
 

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[CardinalBacker]

58 minutes ago, baddog said:

Of the $1.6 trillion BBB plan, $550 billion went to climate change, or laundered and into someone’s hip pocket. I think some of that money helped it snow in California.  Please explain how these trillions get injected into the “economy”. I would really like to know since I’m not a banking guru. 

Like Bobcat was saying... firms took out PPP loans, then had no actual losses from Covid.  The loans were forgiven and those firms just had a huge "bump" in revenue for the year.  Some gave bonuses, made investments... just spent more cash and the "loans" were forgiven.  

[DonTheCon2024]

18 hours ago, thetragichippy said:

Dude, didn't you just get a vacation for personal attacks? Do you need more time to learn how to chat without insults?

I thought it was for “MagaTARD” but fair enough, noted. 
 

The notion that a U.S. bank seeking max quarterly profits, somehow got distracted by ESG and diversity nonsense, has zero basis and is laughable at best. 
 

The same people that cheered on Jan 6th, are the same people cheering on “get woke, go broke” even though it doesn’t apply.. dudes just really hate this country. Maybe they need to LEAVE 

 

[DonTheCon2024]

22 minutes ago, CardinalBacker said:

Like Bobcat was saying... firms took out PPP loans, then had no actual losses from Covid.  The loans were forgiven and those firms just had a huge "bump" in revenue for the year.  Some gave bonuses, made investments... just spent more cash and the "loans" were forgiven.  

Don’t forget their savior and lord straight up abolished any oversight of the PPP program as well. Government bad.. etc etc, except when handing out literal free money. In which case, please gib me too

 

One more thing to not forget. Trump bucks didn’t impact inflation, but Biden bucks did. 

[CardinalBacker]

2 hours ago, DonTheCon2024 said:

Don’t forget their savior and lord straight up abolished any oversight of the PPP program as well. Government bad.. etc etc, except when handing out literal free money. In which case, please gib me too

 

One more thing to not forget. Trump bucks didn’t impact inflation, but Biden bucks did. 

Meh.... Both sides share responsibility for this one.  Trump definitely set it in motion, but but Biden hasn't done anything to curb it, other than spending even more money.  

[Reagan]

Only ONE member of failed SVB's board had a career in investment banking - and the rest were Obama, Clinton mega-donors who 'grieved' when Trump won including one who went to Shinto shrine 'to pray'!  

Tom King, 63, was the only member of the Silicon Valley Bank board who had experience in investment banking

The others were major Obama and Clinton mega-donors, including one who cried when Trump won in 2016

The board is now being investigated for its failure to act ahead of the bank's collapse, as some argue it was too focused on being woke!

Company boards are suppose to protect the company and shareholders.  The majority of these people had no business on this board!

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[Reagan]

Justice Department launches investigation into Silicon Valley Bank execs who cashed out millions in shares before collapse - as first lawsuit class action lawsuit is filed!

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