Is Armageddon Upon Us????

[Nick Caprinolo]

I wonder if the is this start of another bank crash across the country

Silicon Valley Bank Shuttered

US regulators shut down Silicon Valley Bank yesterday in what is the second-largest failure of a financial institution in US history, following Washington Mutual during the height of the global financial crisis in 2008. Silicon Valley Bank, which caters to mostly technology workers and venture-backed companies, had roughly $209B in assets and $175B in deposits as of December. The Federal Deposit Insurance Corp. assumed control of Silicon Valley Bank via a new entity a day after depositors began withdrawing their money on fears of the bank's solvency, also known as a bank run (see 101). The bank's parent company's shares fell roughly 70% since it announced plans this week to raise $2.25B to shore up its balance sheet and offset nearly $2B in losses on asset sales. Trading halted yesterday after market volatility. Insured depositors will have access to their funds, typically up to $250K, Monday, the FDIC said. See how the country's 16th largest financial institution compares to other bank collapses here. Read a history of US bank failures here.

 

[ChesterS]

I wonder if the is this start of another bank crash across the country

Silicon Valley Bank Shuttered

US regulators shut down Silicon Valley Bank yesterday in what is the second-largest failure of a financial institution in US history, following Washington Mutual during the height of the global financial crisis in 2008. Silicon Valley Bank, which caters to mostly technology workers and venture-backed companies, had roughly $209B in assets and $175B in deposits as of December. The Federal Deposit Insurance Corp. assumed control of Silicon Valley Bank via a new entity a day after depositors began withdrawing their money on fears of the bank's solvency, also known as a bank run (see 101). The bank's parent company's shares fell roughly 70% since it announced plans this week to raise $2.25B to shore up its balance sheet and offset nearly $2B in losses on asset sales. Trading halted yesterday after market volatility. Insured depositors will have access to their funds, typically up to $250K, Monday, the FDIC said. See how the country's 16th largest financial institution compares to other bank collapses here. Read a history of US bank failures here.

On the radio they said it was partly because of a large investment into crypto currency.

 

[Kracken McGraw]

I sure hope some better news comes on this Monday with some restructuring. I’m sure there will be payrolls to be met. Oprah and Prince Harry are supposedly heavy invested in this bank.

 

[mikeinct]

It is more complicated than that. SVB was heavily invested in low interest treasury bonds. Prices have crashed as rates increased. Couple that to their buy back of own stock shares. & don't forget all those EDI programs funded...It adds up....mike in ct

 

[joshb]

“Oprah and Prince Harry are supposedly heavy invested”…..0H….isn’t that a shame?!?

 

[rwj]

Lesson to be learned here… FDIC only insures deposits up to $250000.00 If you have large cash reserves, do not leave more than the insured value in any one institution!

 

[chkunz]

Lesson to be learned here… FDIC only insures deposits up to $250000.00 If you have large cash reserves, do not leave more than the insured value in any one institution!

Also if a lot of FDIC banks fall at the same time it will take a long time for the fed to unwind and you may have to wait a long time to get your money.

 

[Flouncer]

No

 

[MUP]

If it is I have plenty of powder, bullets, and primers, for what that's worth.

 

[Pawnee Bill]

Is the sky going to fall again????!!!!

 

[Coyotefurharvester]

2030, Russia believes if it "loses" in the Ukraine conflict over RUSSIAN land, than Russia is dead. Russia believes there is NO world without a Russia. No reason to lift the hand from the missle button, if Russia is dead. Probably why dems are not worried about 2024, probably won't be an election.

 

[NorCalMikie]

"I wonder if the is this start of another bank crash across the country"?
Sounds like it might be a GOOD time to pick up some stock at a killer price.

 

[ebb]

This is just a way for the people like us to have more of our tax dollars taken away and given to the ruling elite. How was a past president put "they are too big to fail." This is for when influence peddling isn't generating enough money for the important people.

 

[ebb]

I have read that in the last days, "The truth will be a lie and a lie will be the truth." Do you ever see that happening?

 

[K22]

You can't deficient spend forever - I don't know about Armageddon, but a financial collapse is enviable.

But hey, that's why Marker's Mark and Knob Creek exists. I have my Armageddon supply ready at a moment's notice. I'll put on the Rolling Stones Hot Rock CD or my Good, The Bad, and Ugly soundtrack, make a pitcher of Manhattan's and let it rip. 

PS: However, would like one more season of ground hog hunting.

 

[jdh47]

Hope I'm wrong but it doesn't look good to me. After Biden's erection was officially confirmed we have had an extraordinary time with inflation, foreign policy, domestic terrorism, border invasion of migrants and fuel. Just about everything that was up is now down. Everything that was previously down is now up. What could've gone wrong indeed has so though we cannot predict the future the chances are better than average it won't be good. That is if we actually have a future.

 

[K22]

Hey, if it does come, look on the bright side, you won't have to worry about 'bullet weld" anymore and you won't have to look down that "bore scope" anymore and get the hives at what you see.

PS: Sorry - I just couldn't resist.

 

[ronsatspokane]

“Oprah and Prince Harry are supposedly heavy invested”…..0H….isn’t that a shame?!?

Go woke, go broke.

 

[M-61]

I sure hope some better news comes on this Monday with some restructuring. I’m sure there will be payrolls to be met. Oprah and Prince Harry are supposedly heavy invested in this bank.

That’s two people whose financial problems really keep me up at night.

 

[Kracken McGraw]

That’s two people whose financial problems really keep me up at night.

If someone gets bit in the rear end, it deserves to be them.