Stock Market is ROCKING

[Ark]

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Fundraising is racing withdrawals. Which will run out first?

Looks like my lunch breaks this week will be bank visits. No harm moving some money to physical, right? Not like they're paying **** for interest anyway.

 

[PRasko]

Wonder how my local credit union is doing…

 

[Bugzilla]

But no mention of the President of the bank (and others) dumping their stock in the bank a few weeks ago.

 

[BigRed]

SVB, Signature Bank Depositors to Get All Their Money as Fed Moves to Stem Crisis

The Fed said it would make additional funding available to banks to ensure they have “the ability to meet the needs of all depositors.”

www.wsj.com

"The government’s bank-deposit insurance fund will cover all deposits at the two banks, rather than the standard $250,000. Federal regulators said any losses to the government’s fund would be recovered in a special assessment on banks and that the U.S. taxpayers wouldn’t bear any losses."

 

[BigRed]

Bitcoin is on fire right now as people move their money out of banks into assets.

Good luck with that

 

[DragonGunner]

Wonder how my local credit union is doing…

Credit Unions are a safer bet imho. But I still don’t trust mine. Keep just enough $ to pay bills each month. Grandparents I’m told lost all their $ back in the day. I decided why not learn from them?

 

[asevans]

Good luck with that

Good luck with you fiat currency

 

[DoggyDaddy]

Good luck with you fiat currency

And bitcoin isn't a fiat currency? It was literally made up out of thin air. I'd just as soon trust Jack's magic beans.

 

[BigRed]

Opinion | The Silicon Valley Bank Bailout

The bill for bad policy comes due, but there’s risk in a second rescue of the banking system in 15 years.

www.wsj.com

 

[Ark]

Wonder how my local credit union is doing…

Well they're all insured by by the NCUA in a similar manner to the FDIC. So, ultimately subject to taxpayer bailout if that fund is exhausted. I'd be surprised to see a true systemic failure of credit unions, simply because of how many there are and how comparatively small they are. Everyone, everywhere probably won't experience enough of a run to bust them.

I'm pulling a couple months expenses out of mine and stashing it for the time being, though. Not because I'm afraid of ultimately losing my money, but because if a big enough cascade and bank run happens to tank my CU, I don't have faith in a very short timeline for accessing my money. Lord knows we've learned over and over again that "forever institutions" can turn out to be fresh paint over nothing but spackle and termite dust.

The smart ones should adapt by jacking up deposit return rates. People like me who parked cash savings in deposit accounts got absolutely rekt by inflation last year. With the Fed rates going way up and even short term CDs netting like 5% it's criminal to keep acting like 0% interest on savings is acceptable. How much of the run is just going to be people trying to stop their cash from bleeding to death in the inflation storm?

 

[Magyars]

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Fundraising is racing withdrawals. Which will run out first?

Looks like my lunch breaks this week will be bank visits. No harm moving some money to physical, right? Not like they're paying **** for interest anyway.

Once things settle down you can always put it back in.

 

[Bugzilla]

That’s why Liberty Safe is in business.

 

[smokingman]

so I am not going to speculate they were committing fraud.

Silicon Valley Bank parent, CEO, CFO are sued by shareholders for fraud By Reuters

Silicon Valley Bank parent, CEO, CFO are sued by shareholders for fraud

www.investing.com

Silicon Valley Bank Hit With First Shareholder Fraud Lawsuit Over Collapse By Bloomberg

Silicon Valley Bank Hit With First Shareholder Fraud Lawsuit Over Collapse

www.investing.com

I believe they are going after the CEO and CFO for....fraud and the company as a whole.

 

[smokingman]

I would probably be worried if I had money in Charles Schwab at the moment.

Charles Schwab's drop in margin balances fans SVB contagion jitters

Charles Schwab on Monday reported a 28% decline in average margin balances and a 4% fall in total client assets for February, piling more pressure on the company amid fears over the fallout from Silicon Valley Bank's collapse.

www.reuters.com

Charles Schwab Stock Price Today | NYSE SCHW Live Ticker - Investing.com

View today's Charles Schwab Corp stock price and latest SCHW news and analysis. Create real-time notifications to follow any changes in the live stock price.

www.investing.com

Charles Schwab (SCHW.N) on Monday reported a 28% decline in average margin balances and a 4% fall in total client assets for February, piling more pressure on the company amid fears over the fallout from Silicon Valley Bank's collapse.

Its shares tumbled as much as 18% before paring losses.....


"Earlier in the day, Citigroup analysts said they do not see a material risk to deposits leaving Charles Schwab given its composition but remain concerned about whether there is sufficient liquidity on hand as client assets shift off balance sheet to other instruments.(or...more likely clients try to pull out funds)."

JP is bailing out loads of banks currently. 70 billion loan to first Republic bank.

First Republic secures new facility from JPMorgan

U.S. private bank First Republic Bank said on Sunday it had secured additional financing through JPMorgan Chase & Co , giving it access to a total of $70 billion in funds through various sources.

www.reuters.com

Now,there is something odd about that. Why does a bank with only 212 billion in total assets need a 70 billion dollar loan unless they have already lost 70 billion in depositors money?

• *FIRST REPUBLIC BANK HALTED FOR VOLATILITY, DOWN 65%
• *PACWEST HALTED FOR VOLATILITY; DROPPED 41% TO LOWEST ON RECORD
• *REGIONS HALTED FOR VOLATILITY AFTER PARING 31% DROP TO 20%
• *WESTERN ALLIANCE SINKS A RECORD 76%; HALTED FOR VOLATILITY
• https://www.zerohedge.com/markets/small-banks-are-crashing

Remember me pointing out a few days who were the largest shareholders of SVB?

Morgan Stanley, BlackRock funds among those exposed to regional bank failures By Reuters

Morgan Stanley, BlackRock funds among those exposed to regional bank failures

www.investing.com

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

and now for some humor. Because this is hilarious.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[smokingman]

Bit late to that party.

Fed to Probe Its Supervision of SVB, Release Review by May 1 By Bloomberg

Fed to Probe Its Supervision of SVB, Release Review by May 1

www.investing.com

U.S. Federal Reserve to review its oversight of Silicon Valley Bank By Reuters

U.S. Federal Reserve to review its oversight of Silicon Valley Bank

www.investing.com

 

[dieselrealtor]

Bit late to that party.

Fed to Probe Its Supervision of SVB, Release Review by May 1 By Bloomberg

Fed to Probe Its Supervision of SVB, Release Review by May 1

www.investing.com

U.S. Federal Reserve to review its oversight of Silicon Valley Bank By Reuters

U.S. Federal Reserve to review its oversight of Silicon Valley Bank

www.investing.com

Isn't this like the fire dept showing up to nothing but ashes?

 

[bobzilla]

Isn't this like the fire dept showing up to nothing but ashes?

Wayne Twnshp Foundation Savers?

 

[Lpherr]

Bitcoin is on fire right now as people move their money out of banks into assets.

We've seen that show.

 

[ancjr]

I would probably be worried if I had money in Charles Schwab at the moment.

Charles Schwab's drop in margin balances fans SVB contagion jitters

Charles Schwab on Monday reported a 28% decline in average margin balances and a 4% fall in total client assets for February, piling more pressure on the company amid fears over the fallout from Silicon Valley Bank's collapse.

www.reuters.com

Charles Schwab Stock Price Today | NYSE SCHW Live Ticker - Investing.com

View today's Charles Schwab Corp stock price and latest SCHW news and analysis. Create real-time notifications to follow any changes in the live stock price.

www.investing.com

Charles Schwab (SCHW.N) on Monday reported a 28% decline in average margin balances and a 4% fall in total client assets for February, piling more pressure on the company amid fears over the fallout from Silicon Valley Bank's collapse.

Its shares tumbled as much as 18% before paring losses.....


"Earlier in the day, Citigroup analysts said they do not see a material risk to deposits leaving Charles Schwab given its composition but remain concerned about whether there is sufficient liquidity on hand as client assets shift off balance sheet to other instruments.(or...more likely clients try to pull out funds)."

JP is bailing out loads of banks currently. 70 billion loan to first Republic bank.

First Republic secures new facility from JPMorgan

U.S. private bank First Republic Bank said on Sunday it had secured additional financing through JPMorgan Chase & Co , giving it access to a total of $70 billion in funds through various sources.

www.reuters.com

Now,there is something odd about that. Why does a bank with only 212 billion in total assets need a 70 billion dollar loan unless they have already lost 70 billion in depositors money?

• *FIRST REPUBLIC BANK HALTED FOR VOLATILITY, DOWN 65%
• *PACWEST HALTED FOR VOLATILITY; DROPPED 41% TO LOWEST ON RECORD
• *REGIONS HALTED FOR VOLATILITY AFTER PARING 31% DROP TO 20%
• *WESTERN ALLIANCE SINKS A RECORD 76%; HALTED FOR VOLATILITY
• https://www.zerohedge.com/markets/small-banks-are-crashing

Remember me pointing out a few days who were the largest shareholders of SVB?

Morgan Stanley, BlackRock funds among those exposed to regional bank failures By Reuters

Morgan Stanley, BlackRock funds among those exposed to regional bank failures

www.investing.com

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

and now for some humor. Because this is hilarious.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Schwab is just over 7 trillion AUM. If they pop, everyone will know it.

 

[asevans]

And bitcoin isn't a fiat currency? It was literally made up out of thin air. I'd just as soon trust Jack's magic beans.

You haven’t a clue. May I suggest reading or listening to the book. The bitcoin standard.
Very educational.
O and jacks magic beans is what you got in your fiat.