Venture capitol Bank bailout 2.0

[mkd]

So venture capitalist used SVB to get perks that regular banks don't offer.
 So we'd be bailing out billionaires.
 What say you?
 I say f'em

[RobertELee]

F'em and don't listen to Jim Cramer

[gcode]

They have already announced that .gov (that's us)
will make good any losses.
That holds for a second bank that folded this morning

[gcode]

https://www.cnbc.com/2023/03/12/regulators-unveil-plan-to-stem-damage-from-svb-collapse.html

[mkd]

It's interesting that Warren Buffett has been holding BAC for a while. It's the only one that hardly has any of these 'unrealized losses' on it's balance sheet.
 They are able to get away with their accounting trick with the assumption that the bond assets will be held to maturity. Doesn't work when you get a bank run.

[gcode]

Tomorrow may be interesting
Will there be more banks with account holders lined up around the block,
trying to withdraw their money

[gcode]

Nothing to see here citizen, move along

[mkd]

Pretty good rundown of historical analogs to 2008.
 The readers digest version; The FED has lost control of the economy.

[mkd]

Tomorrow may be interesting
Will there be more banks with account holders lined up around the block,
trying to withdraw their money

Looking like first Republic is the next target judging by Saturday lines.

[JParis]

Looking like first Republic is the next target judging by Saturday lines.

They are down 70% in early trading today...

[mkd]

Chinese word for crisis comprises two characters.
Risk
Opportunity

[gcode]

On the radio this morning (NPR), they said the funds to cover this are not taxpayer funds or inflationary printing.
The said the FDIC has waived the $250K coverage limit for these two banks.
These funds are a pool paid by banks.
That's all well and good, but if banks continue to fail and they continue to waive the $250k limit
the pool will be quickly exhausted, and there will be no funds to cover anybody.

[JParis]

On the radio this morning (NPR), they said the funds to cover this are not taxpayer funds or inflationary printing.
The said the FDIC has waived the $250K coverage limit for these two banks.
These funds are a pool paid by banks.
That's all well and good, but if banks continue to fail and they continue to waive the $250k limit
the pool will be quickly exhausted, and there will be no funds to cover anybody.

As I commented elsewhere this morning, let's ALL remember they said this becasue it's likely to prove utterly untrue in the end...when the FDIC comes to .gov saying their pool is too depleted to cover it's statatory requirements, it will be the taxpayer that funds it...

[CNCAppsJames]

I still have my Train Derailment Decorations out. I forgot it was Bank Failure season. 

[Dan_AKA_ROY23]

F'em and don't listen to Jim Cramer

F him. Never take that asshat seriously (unless you like losing money)