I am just praying that the House is strong enough to NOT enact any legislation to bail them out.
Silicon Valley Bank closes
- Thread starter Blasterbot
- Start date
Bear Ribs
Well-known member
I have it on good authority that it's all Trump's fault in the first place.
MSN
www.msn.com
ABC host slams regulation cuts 'under President Trump' after Silicon Valley Bank collapse
ABC host Martha Raddatz noted that Trump-era regulation cuts may have contributed to the rapid collapse of Silicon Valley Bank last week.While speaking to Sen. Mark Warner (D-VA), Raddatz wondered about the downfall of the go-to bank for tech startups."Senator, after the financial crisis in...
www.rawstory.com
Doesn't work he's been gone for 3 years and the Dems held both houses of Congress for twoI have it on good authority that it's all Trump's fault in the first place.
MSN
www.msn.com
ABC host slams regulation cuts 'under President Trump' after Silicon Valley Bank collapse
ABC host Martha Raddatz noted that Trump-era regulation cuts may have contributed to the rapid collapse of Silicon Valley Bank last week.While speaking to Sen. Mark Warner (D-VA), Raddatz wondered about the downfall of the go-to bank for tech startups."Senator, after the financial crisis in...
Bear Ribs
Well-known member
There's no statute of limitations on how long they can throw the blame on somebody else.
The problem is the fed and the FDIC and other unelected officials, and Bidon signing shit and going over the legislature's head IMHO.
Yeah, it wasn't the bank getting greedy, not diversifying and doing everything it could to keep it's AuM below the threshold for tougher reserve requirements.I have it on good authority that it's all Trump's fault in the first place.
MSN
www.msn.com
ABC host slams regulation cuts 'under President Trump' after Silicon Valley Bank collapse
ABC host Martha Raddatz noted that Trump-era regulation cuts may have contributed to the rapid collapse of Silicon Valley Bank last week.While speaking to Sen. Mark Warner (D-VA), Raddatz wondered about the downfall of the go-to bank for tech startups."Senator, after the financial crisis in...
This whole thing is a shit show of the US government and the FED's making.
They money printed like mad, made all those bubbles expand, put in special reserve and collateral requirements that forced banks to park their money with the FED or buy low interest government bonds, then printed even more money and fucked over the banks holding the older debt that yields less, this making them illiquid.
This is honestly 50/50 split between the bank for being dumbasses and not hedging/diversifying and the fed for making a mockery of things with zero interest rates and money printer go brr.
The bank, meanwhile,was lazy and greedy, they did not hedge their bets and bought the types of assets that you have to hold to maturity while being chin deep in providing financing for a massively speculative field of investment.
Guess muh Diversity, Equity and Inclusion were more important than running a sound business.
Oh, and the top brass basically dumped all their shares, too.
A simple fix would be for them to just buy back their old collateral at face value, thst should make the account holder whole.
Or, you know, they can just transfer the bank's assets to it's de facto creditors, aka it's customers.
The way it usual happens in bankrupcies.
I watch and read a lot of financial news media, and none of the people providing an actual in depth analysis are blaming Trump.
Last edited:
Blasterbot
Well-known member
is there actual reasons to blame trump other than TDS? at a glance they are saying he got rid of some regulations but really all he did was carve out some exemptions so banks with less than $10B could be competitive, and raise the Too big to fail number that a bank has to hit for government bailouts from $50B to $250B. near as I can tell it is more that they overleveraged themselves into high risk investments that had high ESG scores.
More like high risk customers and illiquid collateral.
Bear Ribs
Well-known member
No, there's no connection to Trump. I'm just posting these to enjoy the TDS and laugh at them for thinking there is.
Even if the bill directly and provably caused the failure, this wasn't a Trump bill or anything Trump championed, it was literally just one of many bills that went through both houses and Trump signed into law. They're acting as if this was an Executive Order rather than a law that passed through Congress and that Trump had a very tangential involvement in. One can't even lay it at the Republican's feet, the bill was first sponsored by 12 Republicans, 12 Democrats, and 1 Independent and while it got more Republican votes, it still had 16/31 Democrat votes... and this was in the highly divided Trump Era when you couldn't get a Democrat and a Republican to agree on the color of an orange.
Articles like the ones I posted mentioned how SVB "lobbied" without mentioning who they lobbied.
SVB Financial Group Profile: Recipients
SVB Financial Group organization profile: candidate recipients for the 2022 cycle and top recipients of all types for the 2020 cycle.
www.opensecrets.org
The actual text of the bill can be seen here:
It did not directly lead to the failure in any way as none of the regulations that were eased for small banks had anything to do with the behavior that led to Silicon Valley Bank failing. It could fairly be laid at Biden's feet due to the massive inflation and need for sudden massive spikes in the interest rates to correct for it much more than it could be attributed to Trump for signing a bipartisan bill that made it through both houses half a decade ago.
Blasterbot
Well-known member
another bank has failed. Signature Bank of New York. buckle up buckaroos.
Yup.No, there's no connection to Trump. I'm just posting these to enjoy the TDS and laugh at them for thinking there is.
Even if the bill directly and provably caused the failure, this wasn't a Trump bill or anything Trump championed, it was literally just one of many bills that went through both houses and Trump signed into law. They're acting as if this was an Executive Order rather than a law that passed through Congress and that Trump had a very tangential involvement in. One can't even lay it at the Republican's feet, the bill was first sponsored by 12 Republicans, 12 Democrats, and 1 Independent and while it got more Republican votes, it still had 16/31 Democrat votes... and this was in the highly divided Trump Era when you couldn't get a Democrat and a Republican to agree on the color of an orange.
Articles like the ones I posted mentioned how SVB "lobbied" without mentioning who they lobbied.
SVB Financial Group Profile: Recipients
SVB Financial Group organization profile: candidate recipients for the 2022 cycle and top recipients of all types for the 2020 cycle.
The actual text of the bill can be seen here:
It did not directly lead to the failure in any way as none of the regulations that were eased for small banks had anything to do with the behavior that led to Silicon Valley Bank failing. It could fairly be laid at Biden's feet due to the massive inflation and need for sudden massive spikes in the interest rates to correct for it much more than it could be attributed to Trump for signing a bipartisan bill that made it through both houses half a decade ago.
Lol, Tim "Civil War imminent" Pool is kinda calm about all this.
Bear Ribs
Well-known member
Biden's reassuring everybody that all the things are safe, and confirms that it's all Trump's fault and never his.
Incidentally, it's come out that Trump predicted this would happen all the way back in 2015 and predicted the current banking bubble was going to burst as soon as they raised interest rates.
EDIT: Also amusing to me to note Biden's rushing to California right away to reassure people about this crisis after dragging his heels on Ohio's much more life-threatening one for weeks.
Last edited:
Lol, this idiot is taking cradit because the FDIC is doing its job.
I know he is old but I dobt thet he was around in the 1930s, when the FDIC was created.
Blasterbot
Well-known member
they already as a state needed a bailout. they gave massive pensions to a bunch of state employees that they can't afford. add that to their spendthrift ways and even before this they were fucked.
Here is a good analysis of the situation ther I just found and one massive red light.
The CEO of this bank was on the board of directors of the San Francisco FED.
Otherwise, we have the usual we already heard about, massive incompetence, no hedges, weird relations between the VCs and the bank.
This is starting to stink like a psyop against the FED tightening, or maybe Thiel decided to fuck the SV assholes over.
Last edited:
Simonbob
Well-known member
That guy's all about the current system's good. No concern about the underlying issues with the greater system.
He's a establishment guy, who want's to limit all the problems to Silicon Valley Bank.
(I don't think he's lying, but I do think he's unwilling to look deeper, at the real problems. His life is entirely within the system, so he'll never say the system as it stands is the real problem.)
He's a establishment guy, who want's to limit all the problems to Silicon Valley Bank.
(I don't think he's lying, but I do think he's unwilling to look deeper, at the real problems. His life is entirely within the system, so he'll never say the system as it stands is the real problem.)
Yeah, he is a former FED employee and had gotten more than a little bit institutionalized within the system.
That doesn't mean he isn't right and that the FED/other bureaucracy/the Bidon aren't fucking shit up and making shit worse.
He is also on a tear, I love how he goes into Biden and his donors, when even people like him are angry at the way the system/political class is currently doing things, well:
He is also considerably more pro freedom and decentralization ccompared to your usual media shill and establishment sock puppet.
Patrick Boyle is less personally invested in the system, so he is more direct with his criticisms, and these guys are rpetty much milk toast compared to some other people I follow:
Buba
A total creep
Electoral College Votes Matter!
BTW - what does TDS mean in the context of this thread? To me TDS = Torpedo Defence System, and not something related with ... banks?