General > General Technical Chat
Silicon Valley Bank Collapses
BravoV:
--- Quote from: bdunham7 on March 19, 2023, 02:45:47 pm ---Also, as of right now (7:44AM PDT, 2:44 GMT 19MAR2023) I haven't seen that Credit Suisse has actually either failed or agreed to be purchased by UBS. Has that happened?
--- End quote ---
No one want to buy a sinking ship, infact all potential buyers demand Swiss gov. for a "guarantee" if they save CS.
Latest progress ...
Switzerland Considers Nationalization Of Credit Suisse As Proposed UBS Takeunder Falters
-> https://www.zerohedge.com/markets/ubs-offers-buy-credit-suisse-1bn-025-share-takeunder-cs-balks-offer
Nationalize = print more money to solve problems, that what US and EU are good at for at least the last few years. >:D
Interesting time we live in.
coppice:
--- Quote from: vad on March 19, 2023, 02:41:03 pm ---Real banks also have compliance departments. And executives of real banks prefer to stay out of jail. For that reason they have the compliance departments.
--- End quote ---
You need to move on from the 80s. We aren't in the era of S&L management suffering, often for things beyond their control. We are in the post 2008 era, where the people who were in full control of crashing things roam free. At least one of them moved on from Lehman Bros, and was just a part of crashing SVB.
BravoV:
--- Quote from: coppice on March 19, 2023, 03:12:22 pm ---
--- Quote from: vad on March 19, 2023, 02:41:03 pm ---Real banks also have compliance departments. And executives of real banks prefer to stay out of jail. For that reason they have the compliance departments.
--- End quote ---
You need to move on from the 80s. We aren't in the era of S&L management suffering, often for things beyond their control. We are in the post 2008 era, where the people who were in full control of crashing things roam free. At least one of them moved on from Lehman Bros, and was just a part of crashing SVB.
--- End quote ---
Some people or even certain demographics that so brainwashed, that are never have the word "accountability" in their brain, as the brain just can not cope with that understanding.
Let alone words like "reputation" , "responsibility" ,"guilty" and etc. :palm:
vad:
--- Quote from: coppice on March 19, 2023, 03:12:22 pm ---
--- Quote from: vad on March 19, 2023, 02:41:03 pm ---Real banks also have compliance departments. And executives of real banks prefer to stay out of jail. For that reason they have the compliance departments.
--- End quote ---
You need to move on from the 80s. We aren't in the era of S&L management suffering, often for things beyond their control. We are in the post 2008 era, where the people who were in full control of crashing things roam free. At least one of them moved on from Lehman Bros, and was just a part of crashing SVB.
--- End quote ---
Not being able to find a bank you can trust must be really hard on you.
What alternative do you have? Buying physical gold and a reliable shotgun?
coppice:
--- Quote from: vad on March 19, 2023, 03:52:29 pm ---
--- Quote from: coppice on March 19, 2023, 03:12:22 pm ---
--- Quote from: vad on March 19, 2023, 02:41:03 pm ---Real banks also have compliance departments. And executives of real banks prefer to stay out of jail. For that reason they have the compliance departments.
--- End quote ---
You need to move on from the 80s. We aren't in the era of S&L management suffering, often for things beyond their control. We are in the post 2008 era, where the people who were in full control of crashing things roam free. At least one of them moved on from Lehman Bros, and was just a part of crashing SVB.
--- End quote ---
Not being able to find a bank you can trust must be really hard on you.
What alternative do you have? Buying physical gold and a reliable shotgun?
--- End quote ---
Being able to rely on a bank depends on a lot more than their honesty. Its honesty which has triggered the downfall of many of them. When the biggest players tilt the table, the smaller guys get screwed, and the unscrupulous gather up the pieces and move on. Many people say the S&L problem was due to lax regulation. Look more closely and you'll see it was due to unbalanced regulation. They used to have tight regulation of what they could lend to, and strong customer compensation regulation. They loosened up only one side (allowed to lend to pretty much anyone for anything), leaving the managers in S&Ls between a rock and a hard place. Customers simply went for the highest interest, with no regard for safety, and the S&Ls were forced into more and more risky loans to be able to offer those interest rates. I feel sorry for any bankers who disagreed with those wacky changes, and who suffered legal consequences.
Regulation becomes very polarised, with one side calling for more, and one calling for less. When you look at most regulation related messes, its not usually the amount of regulation that mattered. Its whether the various relevant regulations were well balanced. That's very hard to achieve when each side will grasp at any opportunity to change a single regulatory issue in isolation.
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