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Post by tigercpa on Mar 15, 2023 16:03:25 GMT
SVB and Signature Bank have failed. Is there a contagion?
Why did they fail?
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Post by EvilVodka on Mar 16, 2023 18:45:26 GMT
It's Trumps fault duh
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Post by aufan on Mar 17, 2023 12:48:55 GMT
Petty theft to feed your family can result in a prison sentence.
Make a bank fail, requiring taxpayer funding to prevent worse consequences, while taking millions in bonuses? Heroes. Honorable. Capitalism working.
The WHY is more nuanced but here is a high level answer: because there are no negative consequences. In fact those who did this were rewarded and are millionaires, and always are.
If corporations are people, then the people running them should be held liable. Throw those responsible in prison. This is negligent risk taking that objectively harms the public, and far more people are in jail for far less. At the very least strip them of every penny they own.
Unless there are real negative consequences, this is ‘capitalism’ running at peak efficiency. People gaming the system, coming out millionaires while the common person suffers. It won’t change until the consequence is something different than being able to retire a millionaire.
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Post by tigercpa on Mar 17, 2023 19:03:21 GMT
Petty theft to feed your family can result in a prison sentence. Make a bank fail, requiring taxpayer funding to prevent worse consequences, while taking millions in bonuses? Heroes. Honorable. Capitalism working. The WHY is more nuanced but here is a high level answer: because there are no negative consequences. In fact those who did this were rewarded and are millionaires, and always are. If corporations are people, then the people running them should be held liable. Throw those responsible in prison. This is negligent risk taking that objectively harms the public, and far more people are in jail for far less. At the very least strip them of every penny they own. Unless there are real negative consequences, this is ‘capitalism’ running at peak efficiency. People gaming the system, coming out millionaires while the common person suffers. It won’t change until the consequence is something different than being able to retire a millionaire. I think your response is spot on. |
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Post by Hero on Mar 17, 2023 20:04:54 GMT
Make a bank fail, requiring taxpayer funding to prevent worse consequences, while taking millions in bonuses? Heroes. Honorable. Capitalism working. This is not capitalism working. |
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Post by Bevo on Mar 18, 2023 15:28:48 GMT
Petty theft to feed your family can result in a prison sentence. Make a bank fail, requiring taxpayer funding to prevent worse consequences, while taking millions in bonuses? Heroes. Honorable. Capitalism working. The WHY is more nuanced but here is a high level answer: because there are no negative consequences. In fact those who did this were rewarded and are millionaires, and always are. If corporations are people, then the people running them should be held liable. Throw those responsible in prison. This is negligent risk taking that objectively harms the public, and far more people are in jail for far less. At the very least strip them of every penny they own. Unless there are real negative consequences, this is ‘capitalism’ running at peak efficiency. People gaming the system, coming out millionaires while the common person suffers. It won’t change until the consequence is something different than being able to retire a millionaire. Nobody goes to prison anymore for petty theft to feed their family. We are a charitable country. We GIVE people food if they can’t feed their family… but I get your point. And, Hero is right: this is NOT “capitalism working”…. It’s cronyism and corruption. But between those discrepancies, I think for once we’re all in agreement. I think I just saw a pig fly by my window. 😳 |
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Post by aufan on Mar 19, 2023 18:54:17 GMT
Petty theft to feed your family can result in a prison sentence. Make a bank fail, requiring taxpayer funding to prevent worse consequences, while taking millions in bonuses? Heroes. Honorable. Capitalism working. The WHY is more nuanced but here is a high level answer: because there are no negative consequences. In fact those who did this were rewarded and are millionaires, and always are. If corporations are people, then the people running them should be held liable. Throw those responsible in prison. This is negligent risk taking that objectively harms the public, and far more people are in jail for far less. At the very least strip them of every penny they own. Unless there are real negative consequences, this is ‘capitalism’ running at peak efficiency. People gaming the system, coming out millionaires while the common person suffers. It won’t change until the consequence is something different than being able to retire a millionaire. Nobody goes to prison anymore for petty theft to feed their family. We are a charitable country. We GIVE people food if they can’t feed their family… but I get your point. And, Hero is right: this is NOT “capitalism working”…. It’s cronyism and corruption. But between those discrepancies, I think for once we’re all in agreement. I think I just saw a pig fly by my window. 😳 I think we all agree, because I posted a moderate, common sense response. That and there is no right wing conspiracy on why the bank didn’t actually fail but this is liberal media lying to us. Once that conspiracy comes out on Twitter then I will be considered a far left communist for this same opinion. |
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Post by Hero on Mar 19, 2023 18:57:36 GMT
Nobody goes to prison anymore for petty theft to feed their family. We are a charitable country. We GIVE people food if they can’t feed their family… but I get your point. And, Hero is right: this is NOT “capitalism working”…. It’s cronyism and corruption. But between those discrepancies, I think for once we’re all in agreement. I think I just saw a pig fly by my window. 😳 I think we all agree, because I posted a moderate, common sense response. That and there is no right wing conspiracy on why the bank didn’t actually fail but this is liberal media lying to us. Once that conspiracy comes out on Twitter then I will be considered a far left communist for this same opinion. I won't think any less of you. |
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Post by Bevo on Mar 19, 2023 20:01:32 GMT
I think we all agree, because I posted a moderate, common sense response. That and there is no right wing conspiracy on why the bank didn’t actually fail but this is liberal media lying to us. Once that conspiracy comes out on Twitter then I will be considered a far left communist for this same opinion. I won't think any less of you. They are lying to us….saying this “isn’t systemic”. It is. There are a Lot of banks sitting on worthless, low interest T-bills |
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Post by tigercpa on Mar 20, 2023 13:33:03 GMT
I won't think any less of you. They are lying to us….saying this “isn’t systemic”. It is. There are a Lot of banks sitting on worthless, low interest T-bills And one of the top GSIB banks just went under and had to be bought out by a rival. |
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Post by tigercpa on Mar 20, 2023 14:39:20 GMT
Not a pretty picture:  |
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Post by Hero on Mar 20, 2023 22:05:47 GMT
So what do we make of all this?
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Post by tigercpa on Mar 21, 2023 12:51:48 GMT
So what do we make of all this?  www.statista.com/statistics/294960/leading-bank-usa-by-tier-1-capital/So, the banks that file a Call Report have roughly $600 billion in unrealized losses on securities. Assuming they are concentrated in the top 3 bank (which they aren't) it would essentially wipe out JPM, BOFA and Citi if there were a deposit run and those securities had to be sold to provide depositors with their cash. |
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Post by Bevo on Mar 21, 2023 13:18:03 GMT
So what do we make of all this? Pray that nobody calls the Fed's bluff. |
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Post by Bevo on Mar 23, 2023 2:12:28 GMT
Credit Suisse has existed for 167 years. It disappeared in 48 hours, AFTER being given $50 Billion. How bad is this banking crisis?
In 2008, I said something like.... "The governments just moved all the bad debt from the banks to the government. When the governments are proven to be bankrupt, WHO bails them out?"
I'm getting worried about my own fears.
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