Savage Henry Posted March 13, 2023 Share Posted March 13, 2023 2 hours ago, coprolite said: This isn’t my area so the following might be a load of bollocks. This isn’t a straight up repeat of Lehman and Northern Rock. So what you are saying is do not buy? 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted March 13, 2023 Share Posted March 13, 2023 43 minutes ago, Melanius Mullarkay said: Which are you then? Don’t answer that btw. Is there a difference between “fairly well paid” and “relatively well paid”? Shyster and clueless is self evident. 0 Quote Link to comment Share on other sites More sharing options...
Melanius Mullarkey Posted March 13, 2023 Share Posted March 13, 2023 27 minutes ago, Ross. said: Is there a difference between “fairly well paid” and “relatively well paid”? Shyster and clueless is self evident. f**k knows, I’m skint most of the time. 0 Quote Link to comment Share on other sites More sharing options...
superbigal Posted March 13, 2023 Share Posted March 13, 2023 (edited) The Tech companies that rely on this bank to pay for their wages and suppliers are in effect fundamentally bust. They are propped up in theory by "cheap" money. When "money" is not cheap expect more Tech to bite the dust. Not sure I am that sympathetic to those UK Tech start up companies that do not have some cash hidden elsewhere to at least pay for a jar of coffee. Edited March 13, 2023 by superbigal 1 Quote Link to comment Share on other sites More sharing options...
ICTChris Posted March 13, 2023 Share Posted March 13, 2023 Fast Action flying to San Francisco to try and put his money into SVB as we speak. 3 Quote Link to comment Share on other sites More sharing options...
StellarHibee Posted March 13, 2023 Share Posted March 13, 2023 One thing is for sure, it'll be the rest of us that are paying for it. 0 Quote Link to comment Share on other sites More sharing options...
TxRover Posted March 13, 2023 Share Posted March 13, 2023 Eight years ago the CEO of SVB was asking Congress for, and got, reduced regulation due to a lack is risks… https://www.theguardian.com/business/2023/mar/11/silicon-valley-bank-weaken-risk-regulations-svb 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted March 13, 2023 Share Posted March 13, 2023 1 hour ago, Melanius Mullarkay said: f**k knows, I’m skint most of the time. I’m doing ok for now, but it’s nothing a banking crisis and impending unemployment wouldn’t fix. 0 Quote Link to comment Share on other sites More sharing options...
Jim McLean's Ghost Posted March 13, 2023 Share Posted March 13, 2023 tbf to the bankers when the central bank declares their intention is to cause a recession by raising interest rates this is partly how it happens. The bank had a lot of safe long term investments but they no longer yielded enough return when the Fed repeatedly hike interest rates over a short period. The Fed getting credit for saving depositors money when this is a crisis they created. And there is no evidence hiking rates was going to make a dent in inflation mainly driven by the cost of energy increasing due to a war and embargoes against one of the world's largest energy producers. And as for the bank run itself. Caused by panicking CEOs on their group chat. If they had done nothing the bank would have restructured their assets and while the banks own profits would have suffered there would be no harm to depositers. 2 Quote Link to comment Share on other sites More sharing options...
TxRover Posted March 13, 2023 Share Posted March 13, 2023 14 minutes ago, Jim McLean's Ghost said: And as for the bank run itself. Caused by panicking CEOs on their group chat. If they had done nothing the bank would have restructured their assets and while the banks own profits would have suffered there would be no harm to depositers. Primary cause, in the case of SVB, was a run on deposits caused by VC (Venture or Vulture Capitalist) companies advising their investments to pull funds from SVB “just in case”, which resulted in the bank being unable to sell enough assets to meet capital requirements in the short term. 0 Quote Link to comment Share on other sites More sharing options...
doulikefish Posted March 13, 2023 Share Posted March 13, 2023 Nick Lesson will sort this right out 0 Quote Link to comment Share on other sites More sharing options...
Theroadlesstravelled Posted March 13, 2023 Share Posted March 13, 2023 The people shouldn’t pay for it but Biden is a muppet. 0 Quote Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2023 Share Posted March 13, 2023 5 hours ago, TxRover said: Eight years ago the CEO of SVB was asking Congress for, and got, reduced regulation due to a lack is risks… https://www.theguardian.com/business/2023/mar/11/silicon-valley-bank-weaken-risk-regulations-svb Indeed. This article gives some additional detail. https://theintercept.com/2023/03/11/silicon-valley-bank-used-former-mccarthy-staffers-to-weaken-regulations-lobby-fdic/ 0 Quote Link to comment Share on other sites More sharing options...
MazzyStar Posted March 13, 2023 Share Posted March 13, 2023 Lol 1 Quote Link to comment Share on other sites More sharing options...
coprolite Posted March 14, 2023 Share Posted March 14, 2023 Looks like America is going to back all deposits with a very generous loan scheme. No indication that they'll be taking any more of the profits for the society that's going to bear the liquidity risk. I'd imagine the Tories are quite aroused by the lack of media attention it's getting and are furiously scribbling it into the budget so they'll never pay for lunch in the city again. 0 Quote Link to comment Share on other sites More sharing options...
jimbaxters Posted March 14, 2023 Share Posted March 14, 2023 13 hours ago, doulikefish said: Nick Lesson will sort this right out No, he learned his Leeson last time. 4 Quote Link to comment Share on other sites More sharing options...
beefybake Posted March 14, 2023 Share Posted March 14, 2023 On 13/03/2023 at 13:40, superbigal said: The Tech companies that rely on this bank to pay for their wages and suppliers are in effect fundamentally bust. They are propped up in theory by "cheap" money. When "money" is not cheap expect more Tech to bite the dust. Not sure I am that sympathetic to those UK Tech start up companies that do not have some cash hidden elsewhere to at least pay for a jar of coffee. At a guess, I'd say that until the day they went bust, SVB on both sides of the Atlantic gave their customers far better service than the ordinary. Anyone who has ever had an account with HSBC will know how dismal they can be. I'd be surprised if many of HSBC's new, ex-SVB, account holders stick around for long under the new ownership. 0 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted March 14, 2023 Share Posted March 14, 2023 22 hours ago, TxRover said: Eight years ago the CEO of SVB was asking Congress for, and got, reduced regulation due to a lack is risks… https://www.theguardian.com/business/2023/mar/11/silicon-valley-bank-weaken-risk-regulations-svb In other parts of the world even tiny institutions had to comply with all the new regulations brought in by the Basel III agreement In the United states smaller "Community Banks" were largely exempted Presumably because they weren't considered too big to fail. Silicon Valley Bank was about as big as a bank could get while still not having to deal with all that extra annoying paperwork 0 Quote Link to comment Share on other sites More sharing options...
alta-pete Posted March 15, 2023 Share Posted March 15, 2023 Credit Suisse. @Ross.? 0 Quote Link to comment Share on other sites More sharing options...
D Angelo Barksdale Posted March 15, 2023 Share Posted March 15, 2023 Good to see Barney Frank involved. One of the all time great Trump tweets. 1 Quote Link to comment Share on other sites More sharing options...
.thumb.jpeg.00cd9c6be4adda21f71e77f8a1baa76c.jpeg)
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.