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Silicon Valley Bank Collapses

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Stray Electron:
Quote from: coppice on Yesterday at 10:09:32 pm

    I found it interesting that so many companies in one area had a large part of their cash holdings in the same place. Don't these people know what SPOF means?


   I talked to my family member that's involved with this today and asked the same question. Their reply was that SVB was VERY good to deal with and had a very good website and gave better benefits than the other banks so most of their customers dealt with them exclusively. I talked to another family member that lived in the area until recently and he said the same.

EEVblog:

--- Quote from: wilfred on March 13, 2023, 02:54:04 pm ---Guaranteeing the funds of depositors is not bailing out the bank.
--- End quote ---

The funny thing is Biden literally quote tweeted a NY Times article saying that it was a "bail out", LOL.

james_s:

--- Quote from: EEVblog on March 13, 2023, 10:59:18 pm ---
--- Quote from: wilfred on March 13, 2023, 02:54:04 pm ---Guaranteeing the funds of depositors is not bailing out the bank.
--- End quote ---

The funny thing is Biden literally quote tweeted a NY Times article saying that it was a "bail out", LOL.

--- End quote ---

Well in a sense it's "bailing out" if only that it's covering their screwup so that the clients don't get hosed.

I would be ok with this IF bank executives received serious punishment such as fines and jail time if they engaged in risky behavior. Unfortunately what usually happens is they are given millions of dollars to go away.

SiliconWizard:

--- Quote from: james_s on March 13, 2023, 11:08:44 pm ---
--- Quote from: EEVblog on March 13, 2023, 10:59:18 pm ---
--- Quote from: wilfred on March 13, 2023, 02:54:04 pm ---Guaranteeing the funds of depositors is not bailing out the bank.
--- End quote ---

The funny thing is Biden literally quote tweeted a NY Times article saying that it was a "bail out", LOL.

--- End quote ---

Well in a sense it's "bailing out" if only that it's covering their screwup so that the clients don't get hosed.

I would be ok with this IF bank executives received serious punishment such as fines and jail time if they engaged in risky behavior. Unfortunately what usually happens is they are given millions of dollars to go away.

--- End quote ---

Yep. In that regard, it kinda looks like a mafia. Well, it mostly is.

coppice:

--- Quote from: EEVblog on March 13, 2023, 10:59:18 pm ---
--- Quote from: wilfred on March 13, 2023, 02:54:04 pm ---Guaranteeing the funds of depositors is not bailing out the bank.
--- End quote ---

The funny thing is Biden literally quote tweeted a NY Times article saying that it was a "bail out", LOL.

--- End quote ---
I suspect he's trying to blur things. A lot of regional bank stocks seem to have plummeted today. Biden doesn't want that. On the other hand a bail out would be a political hot potato after the public backlash over bailouts in 2008. So, I suspect he's trying to keep both side calm, but will end up spooking them both.

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