Bank Run

[Wakeforest22890]

who do ya think were taking out all those subprime mortgages?

Are we accounting or not accounting for banks intentionally targeting people of color for subprime mortgages even if they qualified for prime mortgages?

 

[DeacMan]

Buckle up.

 

[Kory]

what am i buckling up for

 

[DeacMan]

what am i buckling up for

You personally, I can't be sure, but the gist of it is JPMorgan thinks we are in for a months long process on various bank concerns and likely a recession. In short, the rapid tightening is now having some consequences.

 

[PhDeac]

Kory, you should try moving your assets to be safe.

 

[BeachBumDeac]

You personally, I can't be sure, but the gist of it is JPMorgan thinks we are in for a months long process on various bank concerns and likely a recession. In short, GO WOKE GO BROKE

FIFY

 

[Kory]

i thought we were already in a recession

 

[bym051d]

i thought we were already in a recession

But some wealthy people might feel it now.

 

[dartsndeacs]

yeah I listened to that video. That wasn't a buckle up video

 

[avalon]

so it's just a case-by-case bailout for depositors over $250k?

I thought I had read that the most likely resolution would be a sale of the bank. In that case, I think the government is just providing the cash so customers can withdraw, and then they'll be made whole by whoever buys it. (I would hope so anyway.)

 

[bym051d]

I thought I had read that the most likely resolution would be a sale of the bank. In that case, I think the government is just providing the cash so customers can withdraw, and then they'll be made whole by whoever buys it. (I would hope so anyway.)

No buyers for SVB because of their clients, iirc.

 

[avalon]

No buyers for SVB because of their clients, iirc.

They couldn't make a quick sale over the weekend happen, but that doesn't mean it won't sell eventually, even if it's a sale of the assets.

 

[DeacMan]

Link? Glad we have definitive evidence now.

Different link but another person confirming the stress test would have been meaningless bc it focused on credit and not interest rate exposures. It should open to the right segment of the interview.

 

[bym051d]

Glad your TV came though.

 

[WRS]

They couldn't make a quick sale over the weekend happen, but that doesn't mean it won't sell eventually, even if it's a sale of the assets.

I think they are looking at selling it off in pieces already. Clearly nobody wants/has the ability to buy the whole thing. I doubt anyone will want their wine business (lol) and much of the loan book would be untouchable for most banks. Not because of the asset quality but because of the specialized nature of it.

 

[Wakelaw2006]

 

[DeacsPop]

My oldest leads the San Fran practice at Bridge Bank part of Western Alliance. Was out there last two week's witnessing the pins and needles he and his Team were on even though the Bank is a well run, diversified and funded entity. Now the Gov't has given SVB a license to continue funding even new Clients using the cry that they are "government protected" as opposed to others in their space. Doesn't seem right.

 

[bym051d]

Didn’t know the Fed tracked wokeness at banks.

 

[myDeaconmyhand]

Pronouns in Bio were reaching dangerous levels this past fall, but the Reserve didn’t stop it when they had the chance

 

[ImTheCaptain]

if i'm going to make a run on a bank - what am i supposed to do...move the cash to a different bank or just get a bunch of duffle bags for the cash