The current debt load in unmaintainable unless there is significant inflation. If the government were at all concerned about its debt load, it wouldn't be cranking the printing presses 24/7 to fund the most frivolous stuff imaginable. There's something else going on here, and it has the feel of a p...

boglerdude wrote: ↑Sat Mar 18, 2023 6:34 pm Business should have to pay for high limits like that

Let's see. . . You lend $250,000 to the bank. You get virtually no return on your money and become an unsecured creditor of the bank--subordinate to shareholders and secured creditors. Sounds like a good deal to me.

jalanlong wrote: ↑Thu Mar 16, 2023 9:00 am . . . until you get frustrated and throw in the towel.

I've concluded that that's the point.

Thanks, Jalanlong. I think you're right. I looked closely at Fidelity's numbers this morning (as detailed in its "Positions" section), and it does appear that it's showing yesterday's data until about 9:45 EST. Even after that time, market prices are delayed significantly, so if you're int...

So... Is it stupid to have money in any bank that isn't one of these? "Systemically important": Meaning what? That the reach of their malfeasance has become so extensive that the federal government has no realistic choice but to continue propping them up? There are a number of commentator...

While the FDIC was stepping in to make all depositors whole at SVB, the Fed was setting up the lifeline for all depository institutions called the Bank Term Funding Program. Pretty cool, they will make term loans to institutions on assets AT PAR. So if a bank holds a bond or MBS portfolio that has ...

Xan wrote: ↑Tue Mar 14, 2023 7:54 am Sorry, Vinny, I may have been unclear.

Nothing unclear here.

glennds wrote: ↑Tue Mar 14, 2023 11:00 am . . .That people can be both patriots AND insurgents. . .

As a thought experiment, I would ask whether an "insurrection" can occur when the focus of rebellion is an illegitimate government or an unconstitutional exercise of power. Just hypothetically.

I'm hoping that someone can explain to me why, at any given time, the quotes on particular securities vary so dramatically between platforms. I have money at Fidelity and Ameritrade and use both of those platforms to monitor what's going on in the market. This morning, I was (once again) stunned by ...

Long before its epic collapse, Silicon Valley Bank (SVB) was a darling of the left. It allied in cash and manpower with a liberal nonprofit run by California Gov. Gavin Newsom's wife and fully embraced the environmental, social and governance (ESG) platform now being banned in some red states, whil...

Silicon Valley Bank's chief administrative officer, Joseph Gentile, was the CFO for Lehman Brothers Global Investment Bank.
https://mishtalk.com/economics/the-stun ... ks-failure

Vanguard is Silicon Valley Bank's largest shareholder. https://investorplace.com/2023/03/5-investors-that-are-betting-big-on-silicon-valley-bank-sivb-stock/ VTI is among the funds affected, though minimally. https://www.morningstar.com/articles/1143550/which-funds-are-taking-the-biggest-hit-on-silic...

Some interesting observations from Bill Ackman: The gov’t has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowing @SVB_Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Absent @...

The more I read, the more I realize how deeply involved this bank was in the whole ESG thing. https://www.breitbart.com/clips/2023/03/12/bernie-marcus-woke-silicon-valley-bank-was-more-concerned-about-global-warming-than-shareholder-returns/ One astute guy on the internet asked a very good question:...

Hedge funds are offering to buy startups’ deposits stranded at Silicon Valley Bank for as little as 60 cents on the dollar, pitching expensive but crucial lifelines to founders unable to access their cash after the lender collapsed yesterday, people familiar with the matter said. Firms better known...

From Jim Rickards: The behavioral and complex dynamics of bank runs and crypto runs are identical with one important difference: Banks have the Fed behind them, cryptos don't. From Tom Luongo: Lots of smoke here that SVB was a directed hit against another stablecoin and the [crypto] infrastructure.

It's an unfortunate aspect of human nature that compels people to keep up with the Joneses. Before the internet and television gone wild, the biggest concern of most social climbers was their next door neighbor's new sports car. Now they have to keep up with imaginary people who do not work and yet ...

Here is a partial list of depositors who didn't get out in time: USDC - Crypto Stablecoin run by Circle - Silicon Valley Bank is one of six banking partners Circle uses for managing the ~25% portion of USDC reserves held in cash. While we await clarity on how the FDIC receivership of SVB will impact...

It's being reported that Circle, the second largest issuer of Stablecoin, held something like $10 billion in cash reserves at SVB. https://www.coindesk.com/markets/2023/03/10/scrutiny-falls-on-43b-usdc-stablecoins-cash-reserves-at-failed-silicon-valley-bank/ U.S.-based stablecoin issuer Circle held ...

Genevieve Roch-Decter, CFA
@GRDecter

Only 2.7% of Silicon Valley Bank deposits are less than $250,000.
Meaning, 97.3% aren't FDIC insured.
Ouch.

Less than 3 percent of accounts have less than $250,000? Who the heck was depositing money there?

From a Twitter thread from yesterday:

"Most people don't realize how crucial Silicon Valley Bank is. Billions of dollars in venture debt. Untold amounts of warrants and convertible notes in early-stage firms. If SVB fails, this could be the Lehman moment for the startup world."

Has anyone had any experience with this supplement? It's a naturally-occurring substance that appreciably raises levels of dopamine, the neurotransmitter primarily responsible for motivation and the feeling of well-being. Supposedly it's effective at countering depression, improving cognition and le...

Haha. You very funny.

Wasn't somebody saying that the Mexican cartels own Congress?

There is some very good commentary going on this morning regarding today's market action. One of the more interesting theories, and one that's been discussed for a while, pits the Fed and the big banks against the ECB and the WEF/Davos crew, speculating that the Silicon Valley Bank failure is part o...

It's not just the sector bias that troubles me. The S&P 500 indices look like a bet on a small handful of popular tech stocks.