| General > General Technical Chat |
| Silicon Valley Bank Collapses |
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| Marco:
Fractional reserve banking and contagion is the natural state of the market, only government intervention can prevent it. In extreme cases even government needs to devalue relative to gold in a gold standard. |
| Marco:
--- Quote from: coppice on March 19, 2023, 04:49:33 pm ---Its honesty which has triggered the downfall of many of them. --- End quote --- With accounting regulations for publicly owned company any analyst can mark to market bank assets with reasonable accuracy, it's pretty hard for them to not be honest without outright fraud. Mark to market in a downturn is a recipe for contagion though. |
| tom66:
Reports now that Credit Suisse has been bought out by UBS for ~1.3 billion EUR, which essentially leaves the average CS shareholder about 80% out of pocket. But it looks like they will live another day. |
| jonpaul:
Swiss news..as of 19:40 CUT/GMT/Zulu UBS has bought out Credit Suisse for 3B CHFR and assumed 5B CHFR losses. Jon |
| m k:
How was it, the blood and buying. |
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