FDIC onsite at First Republic Bank tonight
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FDIC onsite at First Republic Bank tonight
1–10 of 21 posts
Re: FDIC onsite at First Republic Bank tonight
#2Doesn't seem well corroborated, which doesn't mean it isn't true but it will be nice to get a better source.
Re: FDIC onsite at First Republic Bank tonight
#3Doesn't seem well corroborated, which doesn't mean it isn't true but it will be nice to get a better source.
Agreed, sounds sketchy. What does it even mean to throttle wire transfers if they’re just queueing them up for Monday?
Re: FDIC onsite at First Republic Bank tonight
#4I think FRB might be fine but the VCs are trying to start a run to force the fed to get involved in a bigger way at SVB (e.g. backstop guarantee or a bailout). I saw two very very prominent VCs both quote retweeted this tweet and added scare to it… both within 3 minutes of each other.
Total and complete speculation but just a thought.
Re: FDIC onsite at First Republic Bank tonight
#5Hmm, maybe that 8-K they filed yesterday was a tad optimistic
Re: FDIC onsite at First Republic Bank tonight
#6Hmmm, lots of people disputing it on there.
Not to say it isn't necessarily untrue, but some guy on twitter saying "my friend says so" isn't very convincing. Bigly if true though!
Re: FDIC onsite at First Republic Bank tonight
#7Hmm, maybe that 8-K they filed yesterday was a tad optimistic https://news.ycombinator.com/item?id=35104326
The first comment outlines issues seen inside their filing.
Re: FDIC onsite at First Republic Bank tonight
#8Would like to see any confirmation or reputable reporting on this!
Re: FDIC onsite at First Republic Bank tonight
#9Doesn't seem well corroborated, which doesn't mean it isn't true but it will be nice to get a better source.
Agreed, sounds sketchy. What does it even mean to throttle wire transfers if they’re just queueing them up for Monday?
It's not even worth speculating on that at this point, the sources are so poor.
They're citing "their friend" and posting other stuff from the daily mail. Like... No.
Re: FDIC onsite at First Republic Bank tonight
#10This is completely false and, to borrow from Matt Levine, definitely securities fraud.
This is crypto Twitter excited to find some reason to justify digital assets as an alternative store of value, and then trying to bolster it by causing panic at another bank.
Either that, or as another poster said, forcing the hand of the Fed to bail out SVB.