silicon valley bank

Seriously, take a look at these numbers...





A lot of red states will be completely screwed if they lose federal dollars. California, Washington, Illinois, California and some others would be able cut taxes a lot if transfers to the feds ended.

 

Your source is behind a pay wall.

 

"WASHINGTON—Former Rep. Barney Frank co-sponsored the law that tightened banking regulations after the financial crisis, but since leaving office he has been working the other side of the street—as a board member of Signature Bank, which regulators shut down Sunday.

The 2010 Dodd-Frank legislation set tougher regulatory safeguards on banks with more than $50 billion in assets. After leaving office and joining Signature’s board, Mr. Frank, a Massachusetts Democrat, publicly advocated for easing those new standards for smaller banks"

 

I repeat. It should be illegal for federal government to transfer funds to any other taxing authority unless they are buying something from it. It is a source of corruption. It is incumbent on the states to take care of themselves.

 

Trump was pandering to crooks, kindred spirits of his.

Who the hell was looking at the Silicon Valley operation and saw they were horribly exposed to an inevitable interest rate hike? Why weren't these banks required to hedge?

It has to do with the regulators not making sure the bank had managed risk.

Horsesh't.

I think Frank knows, but I trust the guy about as far as I can throw him.

You seem inclined to vague comments yourself. The banks were taking risks when Trump was President, relaxed rules or not. Why wasn't Mr. Orange Oaf minding the store, he of self-proclaimed genius?

Are we going to transport LNG by rail?

https://www.aar.org/article/freight-rail-a-responsible-choice-for-lng-movements/

What do you think would happen if a similar number of LNG rail cars blew up?

 

Yes, here are some of the details.

It was actually Clinton that orchestrated the subprime mortgage crisis.

Here are the facts about who was responsible for deregulation.

The majority of main proponents of that deregulation were Democrats. Bill Clinton signed the legislation and had a working group in support of the deregulation. Arthur Levit, a Democrat and SEC chairman, lobbied for deregulation. As did Clinton’s Treasury SecretaryLawrence Summers, also a Democrat. The Treasury Secretary preceding Summers, Robert Rubin, also lobbied for deregulation. Shockingly, he was also a Democrat. William Rainer, a friend of President Clinton from back in the Arkansas Governor days, was Chairman of the Commodity Futures Trading Commission was also instrumental in deregulation of derivatives. Shockingly, he was also a Democrat. The only Republican involved on the bureaucratic side was Alan Greenspan.

Granted, Republicans in Congress were complicit and passed the legislation. The house vote was almost unanimous, with only four “nay” votes. Two from each party if I remember right. Such paragons of virtue as Nancy Pelosi, Barbara Lee, Henry Waxman, Steny Hoyer, Barney Frank, Anthony Weiner, Charles Rangle, and Bernie Sanders voted for deregulation. The Commodity Futures Modernization Act passed the Senate on a voice vote so I don’t know how bipartisan it was but generally voice votes are reserved for votes with overwhelming majority support. It was signed into law by Bill Clinton,on the advice of the previously mentioned members of his administration.

 

CHINA's DEPOSITS In Silicon Valley Bank Will Be Bailed Out

Yellen Admits that CCP-Linked Silicon Valley Bank Depositors Will Be Bailed Out by U.S. Banks.

'Treasury Secretary Janet Yellen admitted during a Thursday Congressional hearing that Chinese Communist Party-linked businesses that had deposits in Silicon Valley Bank (SVB) will be made whole by the American banking system.'

We're such nice people

“It has been reported publicly that SVB had a large number of Chinese investors that are there including some companies that were directly connected to the Chinese Communist Party,” Senator Lankford (R., Okla.) asked Yellen during Thursday afternoon’s hearing. “So what I’m asking is: will my banks in Oklahoma pay a special assessment to be able to make Chinese investors whole in Silicon Valley Bank?”

'Secretary Yellen confirmed that they would.'

Man Struggling To Feed Family Just Glad He Could Help Bail Out Bank.

 

The problem with the Silicon Valley bank is the risk they took by putting too much of their deposits in government bonds. Trump didn't stop them, nor has Old Joe.

 

Yes, and your approach is ideological and impractical. The difference between the states is too great. Taxes in poor states would go through the roof if they were forced to provide basic services without help from the feds.

 

THEY CERTAINLY WERE WOKE AND… YOU KNOW THE REST: More On How SVB Screwed The Pooch. “Social Justice is bad enough by itself, but it’s also a marker for those incapable of thinking clearly enough to focus clearly on their main jobs.”

Silicon Valley Bank donated nearly $74 million to #BlackLivesMatter and associated causes.

When they seem more focused on virtue signalling than responsible provision of the goods or services you are seeking, move on the next provider.

 

Not really no but the blue cities in those red states would have to come up with cash for those programs themselves or stop funding them.

 

It's not just cities in red states. The state is relatively poor.

 

many of my new orleans neighbors rely on government programs, but the real poverty in louisiana is in the less urban trailer parks inhabited by less educated whites.

 

There are plenty of poor whites in the South who would even be even worse off if we cut transfer payments through the federal government from rich states like California.

 

it would be nice if losing benefits might encourage these people to find a job, but louisiana's job creators will not touch them.

 

A Bank Examiner comments:

“SVB’s balance sheet as published in its 10-K is the worst I have seen in 40 years."

“Just because you have no credit risk does not mean you are safe. There is also LIQUIDITY risk (excuse me for shouting). SVB had three quarters of its liabilities coming redeemable on any given day.'

“Bad enough for a bank with insured deposits. For a bank with almost all its deposits uninsured it was a bank run waiting to happen.”

'But fear not.' Greasy Gavin 'Newsom’s ill-gotten and uninsured gains will be fully protected by the Biden administration.'

Fat Cats Fed While The Working Cats Struggle to buy gas and groceries



$Billions for them, not a penny for East Palestine.

 

The regulators and SVC bank knew the bank failed to hedge their risk. You don't have to be a bank examiner to understand.

 

There are homeless working poor.

 

you bet there are. a disgrace

 

Yes, it is disgraceful because we let it happen.

 

The claim is that SVB didn't donate to BLM causes:

 

The state is relatively poor but also has a relatively low cost of living.

 

If I am not mistaken, the reference is in the 1000s per day, which translates loosely to millions of barrels per day. Thus a 1% increase would be related to a fraction of that number. Garyd is having a problem with a decimal translation or muliplication factor problem in mathematics. Should have learned this in basic algebra or geometry in HS.

 

Out of curiosity, aside from the native American fiasco that came back to haunt her, what else? The Consumer Financial Protection Bureau? it has been a moderate success IMO. It was authorized by the Dodd-Frank bill with its intent to protect consumers from unscrupulous business activities from banks to prevent predatory lending practices and prevent consumer fraud. But other than that, when it comes to politicans, you really shouldn't trust their word no matter who they are, especially ones that fit your political paradigm.

 

Warren is always on the left side, bigger government on every issue. Unless you think that government officials are angels, frequently when you give them more power, they are angling to get more power beyond that plus some way to put more money in their pockets. Warren is a high taxing, free spending radical. The lie about her ethic heritage should tell you what she is. The phony, "Let me get a beer!" comment when she was running for president and showing you that she is "regular folks" should seal it for you. She's not to be trusted.

There has not been a decent senator to come out of Massachusetts since Paul Tsongas died. Tsongas was the last Democrat who might have gotten my vote for president. Believe it or not, I'd rate Ted Kennedy as the second best one since the 1980s. The others, John Kerry, Ed Markey, who is a real space shot, and Elizabeth Warren have all been a piece of work and not to be trusted.