[BrianC]

Silicon Valley Bank was closed Friday by the California Department of Financial Protection and Innovation, with the Federal Deposit Insurance Corp. as receiver, the FDIC said in a statement. All insured depositors will have full access to their insured deposits no later than Monday morning, the FDIC said. Uninsured depositors will get a receivership certificate for the remaining amount of their uninsured funds, the FDIC said. As the agency sells off Silicon Valley Bank's assets, future dividend payments may be made to uninsured depositors, according to the statement. Until now, there had only been a dozen US bank failures since 2017. Those failures were usually due to weaknesses in credit quality with losses overwhelming balance sheets, Bloomberg Intelligence's Herman Chan told me last week. Silicon Valley Bank had 17 branches in California and Massachusetts. The company's main office and all Silicon Valley Bank branches will reopen on Monday, the FDIC said.
https://news.slashdot.org/story/23/03/1 ... a-receiver

[theluckycountry]

$this->bbcode_second_pass_quote('', 'U')ninsured depositors will get a receivership certificate for the remaining amount of their uninsured funds, the FDIC said. As the agency sells off Silicon Valley Bank's assets

[Plantagenet]

The real question is whether the failure of SVB is just another step on the road to another bank crisis.

Already bank runs are starting at at other banks with exposure to the tech and crypto sector, and their stock price is plummeting.

One bank seeing a stock price collapse deals mainly in real estate....as the price of US real estate falls it puts tremendous pressure on banks who hold a lot of mortgage loans.

We've seen this all before when we had the sub-prime mortgage crisis.

A banking crisis is a really great way to start a recession.

A collapse in housing prices is another great way to start a recession.

Collapse in the stock market also can lead to recession.

And too much inflation can also kill the economy.

And having a senile old guy as President whose main accomplishment is in exploding the deficit spending and the federal debt doesn't help either.

I'm getting a bad feeling about the banking system....starting with the collapse of FTV and the other crypto banks and now moving into regional bank failures, the whole banking system is looking like a house of cards....


the whole banking system is looking like a house of cards....

Cheers!

[AdamB]

$this->bbcode_second_pass_quote('Plantagenet', '
')And having a senile old guy as President whose main accomplishment is in exploding the deficit spending and the federal debt doesn't help either.

[mousepad]

$this->bbcode_second_pass_quote('AdamB', '
')

[AdamB]

$this->bbcode_second_pass_quote('mousepad', '')$this->bbcode_second_pass_quote('AdamB', '
')

[careinke]

$this->bbcode_second_pass_quote('Plantagenet', 'T')he real question is whether the failure of SVB is just another step on the road to another bank crisis.

[careinke]

Bitcoin continues to climb. Fasten your seatbelts, all markets will be shaky tomorrow.

Peace

[AdamB]

$this->bbcode_second_pass_quote('careinke', 'B')itcoin continues to climb. Fasten your seatbelts, all markets will be shaky tomorrow.

Peace

[careinke]

$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('careinke', 'B')itcoin continues to climb. Fasten your seatbelts, all markets will be shaky tomorrow.

Peace

[AdamB]

$this->bbcode_second_pass_quote('careinke', '')$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('careinke', 'B')itcoin continues to climb. Fasten your seatbelts, all markets will be shaky tomorrow.

Peace

[theluckycountry]

If anyone took a big hit in the GFC then they need to be on their toes, or out of paper all together. Certainly we've had a great run these last 14 years, considering, but the headwinds are phenomenal now. The whole plandemic reaction has yet to be priced in.

[mousepad]

My silicon valley startup was affected by SVB. Without Sleepy, couple of millions would have been gone and we probably would have to close shop. This time I'm benefiting. But once again Sleepy is putting special interests (tech bros) before the american public. What a traitorous douchebag. It's not enough that Sleepy facilitates a 3rd world invasion into our country. Must he also steal from the public to give to special interests? What a traitor. What's the penalty for high treason? Death by hanging?

[AdamB]

$this->bbcode_second_pass_quote('mousepad', ' ')What a traitorous douchebag.

[mousepad]

$this->bbcode_second_pass_quote('AdamB', '
')You subscribe to the Replacement Theory mayhap?

[jato0072]

$this->bbcode_second_pass_quote('', 'R')eplacement Theory

[Plantagenet]

$this->bbcode_second_pass_quote('mousepad', 'M')y silicon valley startup was affected by SVB. Without Sleepy, couple of millions would have been gone and we probably would have to close shop. This time I'm benefiting. But once again Sleepy is putting special interests (tech bros) before the american public. What a traitorous douchebag. It's not enough that Sleepy facilitates a 3rd world invasion into our country. Must he also steal from the public to give to special interests? What a traitor. What's the penalty for high treason? Death by hanging?

[jato0072]

Don't watch what they say, watch what they do. There are conspiracy theories which state this "crisis" is just another excuse to consolidate (financial) power. From the "middle class" to the Elite. We should try and pay attention to what is going on, but there is so much noise.

[Plantagenet]

$this->bbcode_second_pass_quote('jato0072', 'D')on't watch what they say, watch what they do. There are conspiracy theories which state this "crisis" is just another excuse to consolidate (financial) power. From the "middle class" to the Elite. We should try and pay attention to what is going on, but there is so much noise.