Huge bank losses in the markets

[jpc]

I had a nightmare last night as I slept. I dreamt that Harry and Megan Markle had all they millions in Silicone Valley Bank and lost it all.

That might actually be true.

 

[jpc]

Equity holders will lose all. small depositors will get all, big investors will lose something.

Sounds like everyone is going to be reimbursed from what I've heard this morning.

 

[Declan]

The shareholders get nothing.

And amazingly Put holders get shafted as well instead of huge profits . It just happened that Friday was expiration day soTHOSE contracts were worthless. I assume contracts expiring in the future are worth big bucks.

They could not exercise or sell them Friday.

I do not know the mechanics of this.

 

[Fishalt]

View: https://twitter.com/LionelMedia/status/1634979596415401984

 

[twochinsmanyarses]

Should we be worried in Éire?

 

[Fishalt]

Should we be worried in Éire?

I'm not the right guy to ask. FOREX/finance isn't really my deal. My horse sense says no. Will probably be contained to domestically within the US. Fed has ostensibly said they're going to bail out depositors, the way they're doing it is greasy and sets a bad precedent. It superficially sounds great that people who had funds in SVB will get their money back, but this basically sends the message that banks can kind of do whatever they like, and they'll get a lifeline--not that this wasn't already the status quo. Oprah allegedly had over 100 million in SVB. She's going to get all that back, and that will be funded by taxpayers, and will cause inflation to get worse.

As usual, the American trading public is retarded and causing stock dumps/banks runs by panic selling/ ripping money out of the tellers. SVB is where it is because it bet the farm on really shitty long-term bonds and was illiquid, didn't have the cash to cover withdrawals and couldn't sell their toxic waste 10 yearers fast enough to generate liquidity to cover withdrawals and went tits up. What it means for the US is increased inflation on top of what they already have that will taper to stagflation because there's no way on God's green earth the Fed can raise rates now that the lid has popped on this thing.

NYSE circuit breakers were triggered on a bunch of other banks, trading was halted on them preventing a full meltdown. I don't know what companies were exposed to SVB's collapse apart from RBLX and Roku, which are both piles of shit and I couldn't care less what happens to them. But I assume there's many, many others.

 

[Coal Gas and peat]

Piss pants and the Yellen thing say it's not a bailout = it's a bailout

 

[Fishalt]

Piss pants and the Yellen thing say it's not a bailout = it's a bailout

Well, it's technically not a bank bailout. But the way they're paying for it is by hiking fees of members of others banks, and they're also taking back the bonds owned by SVB in exchange for providing the liquidity to bail out depositors. So people who had nothing to do with it will get fucked at that end, and inflation will increase, which will be the other end. Bent over and taking the D front-end to back.

The FDIC limit was only fairly recently raised to 250K. It was half that not long ago. So basically the way it works in the states is a depositor has their money insured up to a value of 250K for a single account. Which is fine if you've got less than that or parity in the Kitty, but if you've got millions of dollars in holdings...yeah. When things like this happen, you get wrecked. Or should, anyway. The Fed has just nixed that, and has made it so that now, stupid doesn't have to hurt. It won't end well.

 

[Declan]

A person with 10 for example, needs 40 separate accounts, as the cap is $250000. It is miserable to think of Opfra getting her 100m reimbursed

 

[Fishalt]

A person with 10 for example, needs 40 separate accounts, as the cap is $250000. It is miserable to think of Opfra getting her 100m reimbursed

They were never going to let all these elite shitlibs go to the woodshed. We know that the larger number of depositors actually had holdings in excess of 250K. I'm not entirely convinced that SVB's collapse wasn't orchestrated. The whale accounts pulled their money before the collapse. Wouldn't be the first time.

 

[Coal Gas and peat]

Credit suisse could be the next one to go , all is not well at the bank

 

[Wolf]

View: https://www.youtube.com/watch?v=k8sh-Sn5pXg

 

[PlunkettsGhost]

Credit suisse could be the next one to go , all is not well at the bank

been in trouble for a while

 

[Deleted member 1]

Hmmm.

 

[Fishalt]

been in trouble for a while

Not gonna lie, many's the time I've considered buying CS and many's the time I will consider it again. I can't imagine a world without it in it. It's like Mcdonalds. Even with what's happening right now, it's definitely trading absurdly under fair value.

 

[scolairebocht]

The banking crisis will come to Ireland, an incredibly indebted country, I guess over a few months.

 

[Mad as Fish]

There are two verses to this song.

Irish banks will go burst
The reason is green waste scams,
There will be shock, horror and disgust,
Take you money out if you if you can.

The AIB is the worst,
It will be early to go burst,
The media will scream and shout,
The taxpayer will be forced to bail out.

Having been obliged to find another bank due to the UB closing down, I have found the AIB to be hugely incompetent and only interested in beating you over the head until you fit into its system. If they go bust then I wouldn't grumble too much about having to move on again.

 

[Declan]

Credit suisse could be the next one to go , all is not well at the bank

It seems to HAVE GONE, just flopped 25%

 

[PlunkettsGhost]

I'd be tempted myself to grab a few Suisse shares under 2 Euro, just for larks. Will the ECB step in?

 

[PlunkettsGhost]

The taxpayer will be forced to bail out.

This is it. The entire system is too big too fail. Everything is fake now