SVB Failed! Silicon Valley Bank.

[AzScorpion]

Only Dave would know this as he shields that sweet damper money. =D

Plus, that Silicone Valley Bank's got nuthin' on the Graphene Valley Bank!

Is that listed under GVB ?? Sounds like another slow and slippery investment scheme to launder 5g investors.

? Shush you two! You're not making this any easier for me here. With all that's going on I need all the money I can get now!

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[TJC]

Stocks of 30 banks get halted for volatility, more than once, to start the trading day

To gauge the panic-like activity of bank investors in the wake of the recent failures of SVB Financial Group’s SIVB, Silicon Valley Bank, and Signature BankSBNY, -22.87%.

Multiple banks have had their stock halted for volatility, some more than once, since the opening bell. Among some of those that have already been halted at least twice, shares of:

• Western Alliance BancorpWAL, -48.60% plummeted 78.2%,
• Regions Financial Corp. RF, -6.21% sank 15.6%,
• First Republic BankFRC, -60.49% plunged 65.5%,
• Comerica Inc. CMA, -16.68% tumbled 39.4%
• PacWest Bancorp. PACW, -20.73% took a 47.7% dive.

If you check out the Nasdaq’s “Current Trading Halts” page, you will see it goes on for pages.

 

[mtsoxfan]

If they are implemented properly, managed properly, and is only considered a loan, I'm for bailouts.
Excuse my ignorance, but were any government bailouts repaid?
That should be mandatory in my opinion. Otherwise, we can go through this again...

To someone elses post, who warns not to buy stock, I have, I have made money, good money over the years, and even after the last crash, rebounded quickly and beyond. I don't stick my head in sand, I invest in strong companies, utilities, insurance, defense. OK, a couple of others that haven't done so well, but all those together are less than $5k. Now worth $3k, no biggie.

 

[dtech]

If they are implemented properly, managed properly, and is only considered a loan, I'm for bailouts.
Excuse my ignorance, but were any government bailouts repaid?
That should be mandatory in my opinion. Otherwise, we can go through this again...

To someone elses post, who warns not to buy stock, I have, I have made money, good money over the years, and even after the last crash, rebounded quickly and beyond. I don't stick my head in sand, I invest in strong companies, utilities, insurance, defense. OK, a couple of others that haven't done so well, but all those together are less than $5k. Now worth $3k, no biggie.

some have been, you can see the full list in the link , it's not all black and white though there are different ways loans and bailouts were structed, with GM the gov became a shareholder, then sold at a $11B loss, all the while GM had returned to profitability and was sitting on $10B in cash. As they were no provisions to compel GM to pay in full the taxpayers ate $11B or just add it to the deficit.

https://projects.propublica.org/bailout/list

people have short memories even if they are aware of the facts at the time, as example this little tidbit about some of our home grown billionaires - it's a year dated though and some things have changed like Elon Musk fortune declining by a record setting $182 bil in the past year :

The combined wealth of the top 10 billionaires — including Tesla (TSLA) CEO Elon Musk and Amazon (AMZN) founder Jeff Bezos — doubled during the pandemic and is now six times greater than that of the world’s poorest 3.1 billion people, according to the report.

 

[TJC]

It's a different name but same ole tired song. And Americans keep falling for it over and over again.

Same characters. different faces...
Same plot, different theme...

Covid was nothing more than a giant wealth transfer operation... and it is still ongoing.
Main street forced to shutdown, but the fortune 1000 never slowed down.
All the small shops closed /bankrupted.
All chain stores remained open. Best Year ever!
Hospitals empty
Hospital staff so busy that they find time to make Youtube dancing videos

It's a different name but same ole tired song. And Americans keep falling for it over and over again.

Banks can't fail, even if they wanted to... GM couldn't fail...
Too Big to fail? Nothing should be too big to fail!

But small/midsize businesses go under all the time.
There is no churn at the top, only at the bottom.

 

[BettaRanga]

This is Signature but the culture must have been so bad there…

 

[AzScorpion]

This is Signature but the culture must have been so bad there…

 

[underwhelmed]

DEI, the death of competence and merit…

 

[dtech]

FWIW here is a good summation of the bank failure, I'm not holding my breath that anyone will be held responsible to any legal extent, the CEO undoubtedly knew the collapse was coming

https://www.thedailyupside.com/silicon-valley-bank-imploded-here-were-the-biggest-red-flags/

 

[TJC]

The consolidation of banking has begun. With digital currency the need for a lots of banks becomes unnecessary. This is a designed step in a well thought out process of changing the system, with consolidation of control, wealth, and power the objective.

 

[CB750F]

It's sad that these millionaires can't take a 10-20% haircut.
Maybe your right Tony, time will tell but I've heard that story 40yrs
ago too.

 

[AzScorpion]

It's sad that these millionaires can't take a 10-20% haircut.
Maybe your right Tony, time will tell but I've heard that story 40yrs
ago too.

What I don't understand is the media keeps talking about these "start up" companies who had money at SVB. Most of these weren't small little start up companies as they had millions there. So the little companies who were under the limit were fine and had insurance. The larger ones (accounts) should've been smart enough to have moved their money in a bigger bank. No banks is fail proof but at least the larger ones Chase, BOA, Wells tend to protect their assets better and not make bad investments like SVB did.

 

[TJC]

I don't think their investments are a great deal more risky than the big banks. I do think the Fed made a decision to raise interest rates knowing the end result. They know the weaknesses of all banks. They suspend rules arbitrarily to save/protect the chosen ones. Mark to Market comes to mind. 0% interest rates for the chosen few also comes to mind.

IMO, This is a consolidation operation.

Follow the money. Who gains? Who loses?

 

[dtech]

What I don't understand is the media keeps talking about these "start up" companies who had money at SVB. Most of these weren't small little start up companies as they had millions there. So the little companies who were under the limit were fine and had insurance. The larger ones (accounts) should've been smart enough to have moved their money in a bigger bank. No banks is fail proof but at least the larger ones Chase, BOA, Wells tend to protect their assets better and not make bad investments like SVB did.

From Warren Buffett:
“Never invest in a business you cannot understand.”

Banks like Silicon Valley specialized in making loans to tech sector and startups , some of those loans enabled startups to become larger successful companies so understandably they stayed with SVB who was well connected in tech circles and undoubtedly did their fair of schmoozing. And as someone pointed out Forbes or maybe Barrons was giving recent positive ratings to this bank.

https://www.sarwa.co/blog/warren-buffett-quotes#:~:text

 

[CB750F]

What I don't understand is the media keeps talking about these "start up" companies who had money at SVB. Most of these weren't small little start up companies as they had millions there. So the little companies who were under the limit were fine and had insurance. The larger ones (accounts) should've been smart enough to have moved their money in a bigger bank. No banks is fail proof but at least the larger ones Chase, BOA, Wells tend to protect their assets better and not make bad investments like SVB did.

Did you hear/read that SVB wanted all the customers business or
nothing? Big red flag for me. Other regional banks seemed to have been run properly(I have no proof). Now will there be new regulations, new fees? If so, again for a big client it won't be much, but for the normal person with 500/5000$ in the bank, it will.
It make me sick.
Oh look, the S&P was up 2% earlier, now only 1%... hmmmm.

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