151–160 of 1001 posts
Does this mean $SIVB stock holders who had $265 shares two days ago now have worthless shares? JFC no wonder bank stocks are priced so low compared to earnings... You're just hoping the dividends pay out enough before the inevitable implosion.
> Silicon Valley Bank is the first FDIC-insured institution to fail this year. Wow FDIC is fully calling it a failed bank. Just yesterday they were releasing statements saying they’re in a good position. Uncle Sam just fully opened Pandora’s box and made the judgement public!
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I bet a lot of VCs had significant money in that bank as well. Even if companies could raise money, there wouldn't be as money available.
> a lot of VCs had significant money in that bank Everyone I know pulled yesterday.
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Bill Ackman and Wall Street calling for a government bailout for all depositors: https://twitter.com/BillAckman/status/1634032841687285761
I can't see that happening in today's political climate. Imagine the stories juxtaposing coddled tech workers against the cost of the bailout.
> As of December 31, 2022, Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits
I have a hard time believing they lost 20% of their assets in the last 70 days. The shortfall, if any, should be minor.
Oh dear. It guess this is how the VC pyramid scheme collapses. $151BN uninsured deposits in the bank. [0] Now all those unprofitable startups will be falling like dominoes as now the money is tied up in the bank with withdrawals disabled. [0] https://twitter.com/FedGuy12/status/1634038788468113408
I wonder what, if any, consequences fall their way other than the obvious professional embarrassment of a missed call.
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>Keep in mind 93% of SVB's assest were not FDIC insured. >> Silicon Valley Bank Had About $209.0B in Assets I'm not an expert, but aren't deposits in a bank liabilities ? Assets are things like treasury bills and loans held by the bank.
When someone opens a bank account and makes a cash deposit, he/she surrenders the legal title to the cash, and it becomes an asset of the bank.
Turns out Twitter making bank failure a meme didn’t really help anything at all. It’ll be very interesting to see what happens to uninsured depositors
Probably a dumb question, but what determines if a deposit is insured or not at an FDIC insured bank?
Details: https://www.fdic.gov/resources/deposit-insurance/
Not Covered: https://www.fdic.gov/resources/deposit-insurance/financial-p...