Huge bank losses in the markets

The Fifth View

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Turmoil at Silicon Valley Bank triggers market panic: Four biggest US banks lose staggering $52 BILLION in valuation and Dow drops 540 points​

  • S&P 500 bank index fell more than 6% on Thursday in sharpest drop in two years
  • Investors fled the financial industry following turmoil at SVB Financial Group
  • Markets dropped more broadly as well with the Dow losing 540 points

Turmoil at Silicon Valley Bank triggers market panic

The S&P 500 bank index tumbled more than 6% in its biggest one-day drop in over two years, after SVB Financial Group announced a massive equity raise to cover a $1.8 billion loss.
www.dailymail.co.uk www.dailymail.co.uk


View: https://twitter.com/StockSenseFrank/status/1634017793711435776?s=20



View: https://twitter.com/SullyCNBC/status/1633892528226172928?s=20


they have to destroy this system to implement their agenda 2030 system, no bailout this time. at least in that sense. a total reset.
 
willow said:
And no bailouts either. This time, Baby, they will bail in. Take your money and *poof* it's replaced with programmeable cbdc
The thinking is they will do this on a Friday....
If you can take your money out of the bank, quietly. There may still be enough time.
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maybe this time, with the loss of everything people will actually get mad?
 
Could be time to run for the hills
 
Ramsay Bolton said:
He is still too busy spending billions of money the US does not have.

'Madness': Biden Requests Record $886 Billion Military Budget​


www.commondreams.org

'Madness': Biden Requests Record $886 Billion Military Budget | Common Dreams

"Continuing to throw this much money at weapons, war, and defense contractor profits is unacceptable," said one critic.
www.commondreams.org www.commondreams.org
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Since when has not actually having the money ever stopped politicians spending it on their pet fantasies?
 
Coal Gas and peat said:
Has anyone told piss pants the 18th biggest bank in America has went down :unsure:
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I doubt it. But we do have supposed experts. I saw a headline that Powell will lower rates. Keep in mind that yesterday I saw a headline where he was to raise them bu 0.5 which would shake markets after raising just 0.25 last time.

If he lowered rates there would be total panic in my humble opinion.

Gold would rocket about $400 an ounce that day maybe.
 
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Tonight, in three hours.
 
They are covering all losses.
 
Markets open in 10 minutes
 
Declan said:
They are covering all losses.
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It seems to me that the problem here was a run on the bank. Example. Bank had deposits of 100 Billion.

Bank bought low interest Government bonds for 100 Billion. Depositors demanded their money out but bank could
not pay because their bonds would not mature for 6 years. Bank went under. But the bond assets are still there.

Its like me, I could be worth 6 million but I could not hand out 6 million this week.
 
valamhic said:
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.
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That might actually be true.
 
valamhic said:
Equity holders will lose all. small depositors will get all, big investors will lose something.
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Sounds like everyone is going to be reimbursed from what I've heard this morning.
 
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.
 
twochinsmanyarses said:
Should we be worried in Éire?
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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 said:
Piss pants and the Yellen thing say it's not a bailout = it's a bailout
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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.
 
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
 
Declan said:
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
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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.
 
1678823398529.png

Hmmm.:unsure:
 
PlunkettsGhost said:
been in trouble for a while
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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.
 
valamhic said:
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.
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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.
 
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There will be some craic when the markets open here in 2 hours.
 
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