Second Largest Bank Failure in U.S. History…

[smokingman]

I wonder what portion of their assets (loans) were with start up companies banking on the bull**** "green new deal" subsidies from state?

399 Billion in ESG invested depositor money as of 3rd quarter 2022. They lost 33 billion of it(it was the real start of the collapse)by the end of Q4 2022.

I posted lots of things in the other thread about this. The fed is having an emergency meeting "Monday". The only reason for one of those is systemic risk to the financial system(according to the fed itself).

 

[BigRed]

399 Billion in ESG invested depositor money as of 3rd quarter 2022. They lost 33 billion of it(it was the real start of the collapse)by the end of Q4 2022.

I posted lots of things in the other thread about this. The fed is having an emergency meeting "Monday". The only reason for one of those is systemic risk to the financial system(according to the fed itself).

Isn't it wonderful when state sticks its nose where it does not belong?

 

[Cameramonkey]

Quite a bit, according to the other thread, invested in ESG tomfoolery.

probably more imaginary currency than ESG at play here.

 

[smokingman]

probably more imaginary currency than ESG at play here.

I looked through their quarterly reports. They where losing money hand over fist in ESG investments in 2022.
The firesale of US Treasuries at a loss of 1.8 billion was a result of the losses not the cause of them being insolvent. They tried to plug the hole,then tried a stock sale. Neither worked to restore confidence in their **** poor management of client funds. Then they looked for a buyer...no one with any sense wanted to touch it. It was woke gone mad.

https://www.svb.com/globalassets/library/uploadedfiles/svb-environmental-social-governance-report-2022.pdf

https://s201.q4cdn.com/589201576/files/doc_financials/2022/q4/Q4_2022_IR_Presentation_vFINAL.pdf

 

[Ingomike]

Musk says he will look at buying it…

 

[JCSR]

The alphabet people did it!

News Headlines | Today's UK & World News | Daily Mail Online

All the latest breaking UK and world news with in-depth comment and analysis, pictures and videos from MailOnline and the Daily Mail.

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[Cameramonkey]

The alphabet people did it!

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So I wonder how long it will take them to learn? Is this the equivalent to putting your hand on a hot stove?

 

[smokingman]

Mark Cuban called on the Federal Reserve to step in and buy Silicon Valley Bank's debt 'to end the run'

The "Shark Tank" investor called on the central bank to buy the failed Silicon Vally lender's debt to stop further problems in the financial sector.

www.businessinsider.com

I really hope the do not bail out this woke wreck.

 

[smokingman]

Musk says he will look at buying it…

With over 400 billion in liabilities not even he can afford that.

 

[smokingman]

For nearly 2 months, a short seller was warning on Twitter that Silicon Valley Bank was about to blow up. 'It was sitting there in plain sight.'

The first tweet was Jan. 18: "Dig just a little deeper, and you will find a much bigger set of problems at $SIVB.”

fortune.com

capital investment in clean energy and climate technologies rose 80 percent from 2020 to the end of 2021, reacing about $56 billion in commitments.

At that point in time less than a year ago, Silicon Valley Bank had close to $191 billion in assets and nearly double that in deposits and investments(**woke garbage is what they invested in*). Unfortunately, it had kept a small margin of that in on-hand accounts and had deployed the rest in bonds and other investments which were losing their value because of a falling stock market and newer and higher interest rates offered by the U.S. Treasury and other lenders, according to reports.

Silicon Valley Bank was revered by many startup and energy entrepreneurs for its generous lending practices as compared to some other, more traditional banks. Energy transition media site GreenBiz compared SVB’s $5 billion sustainability pledge to the $150 million by JPMorgan Asset Management’s newer cleantech funds.

Long-term impact of Silicon Valley Bank collapse on Clean Energy startups unknown but clearly Short-term Bad

The bank that was shut down by regulators Friday had previously vowed to commit at least $5 billion in loans, investments and other financing to support sustainability efforts...

www.energytech.com

 

[Ingomike]

So today a brought this up to a group and not a single person had any idea this was going on…

 

[smokingman]

So today a brought this up to a group and not a single person had any idea this was going on…

To say they are short funds is an understatement. With current liabilities you are looking at over a 100 billion dollars short of making depositors whole. A huge chunk of that was lost between Thursday night and Friday morning. When they say they were close to 1 billion short when regulators took over, that was mostly funds already being wired(ie failed bank to bank wires). That is why the regulators stepped in mid day Friday. 42 billion made it out Thursday though.



You are going to hear a crap ton of democrats and woke people wailing for a bailout.

 

[ShimmeringTrees]

Nixon Ends Convertibility of U.S. Dollars to Gold and Announces Wage/Price Controls

Explore the Federal Reserve's history

www.federalreservehistory.org

I do believe the transition from above link to

Central Bank Digital Currency (CBDC)

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

Is the route we are headed.

When the assets are controlled, the controllers control the flow, when the flow is controlled the people suffer. They can print bill after bill after bill. Create whatever garbage scheme they want to say what the interest rate is and we the people fall short yet again under another ponzi scheme. When they took the gold currency from us, they took our lives.

I guess in a roundabout way, I do believe a lot of the economic numbers have been fluffed. I do believe the start of Biden was a recession and our current state is a depression. As for Silicon Valley, by by. It mirrors 2008 in practically the same way. All planned hog wash. They handed out bonuses just before the collapse. Also, all the executives cashed out their stocks just before the collapse. As for everyone who banks with them and is not insured, God speed.

 

[Mgderf]

ESG is just one more money laundering scheme for the DNC.

 

[snapping turtle]

FTX and the USD crypto investment with the fact their safer investments we US treasury bonds that no one wants right now marked the doom of them.

Intrest rates to high to find buyers for 5 precent bonds. Tried to stock sell their way out and that crumbled and the fed stepped in.

Other banks in same boat they said.

A few companies had most of their assets ties up in that bank. (Big bank for startups). I know a few ETSY crafters are going to find they cannot be paid. Most of the others seem like payroll companies and a few venture pharmaceutical companies with most of their Capitol in one place with SVB.

Time will tell but I have been watching some car auctions and I can tell you the banks think it is still COVID 19 used car time. They are putting 2-3 year old used repo'ed cars up think they will get near new car money for them. Listing them over and over with a high reserve and them not selling. If you are in the market for a used car I would wait 6 months to a year and you can get a killer deal.

Cars with high payments intrest rates insurance and plates are easy to do without. Share a car ect. They can then pay the mortgage electric and cell phone bills.

 

[snapping turtle]

Rumor is first republic bank is next on Monday. I hear they are already lined up in the rain waiting.

Come Monday we could see some runs and some stock issues. I wonder if we see the market stop and restart. So much is done by the BOT's that once it starts to get weird they real weird.

 

[thompal]

Apparently Patriot Software uses them for banking. (its a small-ish accounting/payroll company)

I didnt get paid for my side gig yesterday because of this. Luckily for all but one of us this is a side gig, and the one has plenty of cushion to last until Monday when they expect to be able to direct deposit our checks into our bank accounts.

So the money they drafted in last week to pay our payroll is tied up in this mess. Because of the takeover, our funds were locked and unable to transfer out before the FDIC took over and halted everything.

But at least the employees of the bank got paid their bonuses an hour before the bank closed.

 

[BigRed]

The alphabet people did it!

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'This is what happens when you allow people to manage your money based on woke principles instead of on their actual skill and competence.'

The sole purpose of a business is to maximize value for the owner(s), not coddle mentally Ill folks.

 

[BigRed]

To say they are short funds is an understatement. With current liabilities you are looking at over a 100 billion dollars short of making depositors whole. A huge chunk of that was lost between Thursday night and Friday morning. When they say they were close to 1 billion short when regulators took over, that was mostly funds already being wired(ie failed bank to bank wires). That is why the regulators stepped in mid day Friday. 42 billion made it out Thursday though.



You are going to hear a crap ton of democrats and woke people wailing for a bailout.

**** 'em

 

[smokingman]

**** 'em

"I feel bad for all of these people that lost all their money in this woke bank. You know, it was more distressing to hear that the bank officials sold off their stock before this happened. It's depressing to me. Who knows whether the Justice Department would go after them? They're a woke company, so I guess not. And they'll probably get away with it," he said to host Neil Cavuto.

"I think that the system, that the administration has pushed many of these banks into [being] more concerned about global warming than they do about shareholder return. And these banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is, shareholder returns," Marcus continued.

"Instead of protecting the shareholders and their employees, they are more concerned about the social policies. And I think it's probably a badly run bank. They've been there for a lot of years. It's pathetic that so many people lost money that won't get it back."

Home Depot co-founder torches ‘woke’ Silicon Valley Bank collapse, warns recession may be here already

Home Deport co-founder Bernie Marcus analyzed the historic collapse of 'woke' Silicon Valley Bank and the harmful impact it could have on everyday Americans.

www.foxnews.com