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Silicon Valley Bank Collapses
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SiliconWizard:

--- 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.

--- End quote ---

Do you think you can trust yours? ::)
tooki:

--- Quote from: tom66 on March 19, 2023, 07:29:52 pm ---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.

--- End quote ---
The deal went down while I was at a pub quiz with friends. My route home has me change trams at Paradeplatz. That’s me just now, with the Credit Suisse headquarters behind my left shoulder and UBS headquarters over my right. :P
SiliconWizard:
Crédit Suisse has been in trouble for at least 3 years, with a couple shaky affairs, so what's happening is very little surprise.
james_s:

--- Quote from: tom66 on March 19, 2023, 02:15:21 pm ---It's possible to think Putin is a war criminal and W. Bush is one too, but also accept the likelihood of Bush being prosecuted in our lifetimes as practically nil given the US does not accept any higher authority above itself.  They have a law which would legalise their invasion of the Hague if one of their soldiers were to be put on trial.

In fact, I once heard it quipped that if the US government had evidence God was real they'd go to war with the almighty to avoid accepting a higher power.

--- End quote ---

Any country can invade or go to war with any other country for any reason really, making war illegal doesn't change that. The various alliances make that complicated and risky but don't really prevent it, as evidence by the fact that we have had two major world wars and countless smaller ones.
TimFox:

--- Quote from: Marco on March 19, 2023, 05:17:22 pm ---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.

--- End quote ---

The alternative to fractional reserve banking is keeping ones money under a mattress.
The required fraction to hold as reserves is a matter of regulation.
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