silicon valley bank

"the problem with capitalism is that the working class must bail the mother ****ers out every decade or so." rampart.

 

Democrats? Socialism? When was anyone forced to give SVB bankers their money? No, the depositors had faith in the free market regulating itself. Now, they blame Biden instead of where the blame belongs, greedy managers looking for short-term profits instead of long-term viability.

Of course, we already know the GOP answer to this, just like with the East Palestine train derailment. Blame Biden and advocate for more deregulation and tax cuts.

 

The congress of the United States of America, with its exposure to the lobbying efforts of the banking industry, can be seen as a contributor to the major bank failures of the past century. Banking was, arguably, at its most secure when subject to the regulations imposed upon it following the Great Depression of the 1930's. Since that time, there have been ups and downs in regulation, with the predominant trend down. Americans have paid the price.

One might say with a reasonable degree of certainty that a reduction in federal bank regulation is a leading indicator of a banking crisis.

Regards, stay safe 'n well.

 

Y'all buddy Barney Frank says you're wrong...

https://www.wsj.com/articles/barney...s-after-joining-signature-bank-board-e5c8819c

 

Interest rate hikes, by Biden, contributed to the failures, if not directly caused them.

The government is supposed to be keeping an eye on these banks. How did they let SVB and Signature Bank get in such a bind?

 

Can you imagine how rediculous that statement is?...lol

If bankers rob their banks, there wouldn't be any banks. No one would deposit their money.

 

i do not care about the "other companies in the tech sector" and they can ship all their h1b employees back to asia for all i care.

i personally have bailed the bankers out 3 times (s&l, housing crash, and now this.) not to mention several bail outs of the insurance industry.

note that the bank bail outs (after the great depression) were all after reagan "fixed"* the economic system, proving that the new deal programs of countercyclical transfer payments and banking regulation including fdic were emplaced worked to stabilize the inherently unstable capitalist economy for over 1/2 century.

* i use "fixed" in this sentence not as "repaired," but as a pro 'rasslin' match is said to be "fixed." (i've heard that internet bookies are now accepting bets on wwe matches. great. will we now be bailing out burmuda bookmakers?)

 

Powell is raising interest rates, as he should. He is, btw a Trump appointee. Maybe Trump would handle it better, pressuring the Fed chair for lower interest rates, as he did during his term. Maybe more free money will fix it......

 

bankers lobby for rules they can game, and then whine when they lose. i'm sick of it.

 

Can you please reference the specific part of Dodd Frank that would have prevented this?

 

Which regulations were lessened that contributed to the banks collapse?

 

Lol @ "I don't know" but the meme aligned with my partisan agenda, so I posted it.

 

first ya whine about inflation, then ya whine about interest rates. then ya whine about regulators not doing their job.

back to ignore where you belong.

 

ah first ya whine about regulators not doing their job then back to "the free market regulates banking," a statement so preposterous that alan greenspan learned better.

 

i'll link you to @Patricio Da Silva 's op about dodd frank and walk you through it. i'm in my way out now so later

 

I never said anything of the sort...lol. Stop making **** up just because you're losing the argument.

 

He said the taxpayer money won't be used for it, so it remains to be seen how it is handled.

 

You know. The ones Trump rolled back. It's all Trump's fault. It's always Trump's fault.

 

if your statement,

If bankers rob their banks, there wouldn't be any banks. No one would deposit their money.

is not the statement of a free market true believer then i must have made the whole thing up. aren't you on my ignore list?

 

Hi, Rampart.

Our federal congress elected officials can be seen as the enablers of the bank managers.

Regards, stay safe 'n well.

 

There's no way taxpayer money won't be used. SVB owed $175,000,000. The FDIC's balance is $128,000,000. Where do you think the balance is coming from?

 

You said all bankers rob their banks. I was pointing out how rediculous your claim is...lol

 

The most germane here are the limits to risky practices and maintaining a level of liquidity. Also, regular stress testing. SVB was one of the banks that lobbied in 2018 for loosened regulation.

 

I’ve been blaming the Fed.

1. We had an inevitable pent-up demand at a near zero percent fund rate, from March 2021 to March 2022.

2. Powell was dead wrong about his “transitory inflation” belief.

3. The Fed started raising its fund rate after the annualized inflation rate rose to 8%, thus, what happened to their 2% inflation target that they’ve adopted in 2012?