871–880 of 889 posts
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It is, and neither more neo-liberalism nor socialism is the answer.
So that’s how flag waving nationalism and Brexit came to be tried.
SVB is our bank, I got in touch with a member of the senior team there and got the following message to share. (My own interpretation is I'm comfortable and I'm not planning to pursue it further at the moment): As you know, we are limited in what we can share until the transaction formally closes next week but in the meantime I’m attaching concise information on the strength of our business, based on our recent mid-q…
SVB is our bank, I got in touch with a member of the senior team there and got the following message to share. (My own interpretation is I'm comfortable and I'm not planning to pursue it further at the moment): As you know, we are limited in what we can share until the transaction formally closes next week but in the meantime I’m attaching concise information on the strength of our business, based on our recent mid-q…
Aged like already spoiled milk. Hope you're OK.
SVB is our bank, I got in touch with a member of the senior team there and got the following message to share. (My own interpretation is I'm comfortable and I'm not planning to pursue it further at the moment): As you know, we are limited in what we can share until the transaction formally closes next week but in the meantime I’m attaching concise information on the strength of our business, based on our recent mid-q…
i enjoyed reading this comment last night after it was posted 20 hours ago but i didn't think it was very likely to be correct 4 hours ago the fdic closed the bank i'm curious whether your account was fully fdic insured or how much you stand to potentially lose if not
From https://techcrunch.com/2023/03/09/silicon-valley-banks-share... : Becker said the bank has “ample liquidity” to support its clients “with one exception: If everybody is telling each other that SVB is in trouble, that will be a challenge.” Pro tip: if you're CEO of a bank that's facing a bank run, don't tell the press that you'll be in trouble if everybody takes their money out.
Meanwhile, Peter Theil is openly encouraging everybody to tell each other that SVB is sinking and to pull their money [0]. What a guy. [0] Thiel Fund, Venture Firms Advise Companies to Pull Money From SVB
[0] https://www.fastcompany.com/90864395/silicon-valley-bank-an-...
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It's musical chairs once the panic sets in... that's why folks are trying to discourage panic. Another bank will likely swoop in, probably no need to panic
>Another bank will likely swoop in, probably no need to panic This didn't age well.
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Encouraging Solidarity in Poland was the right call, but it's not likely that different leaders would have opposed it. "Neither the strong nor the weak version of the proposition that American defense spending bankrupted the Soviet economy and forced an end to the Cold War is sustained by the evidence." https://www.theatlantic.com/past/docs/politics/foreign/reagr...
I hardly think you can expect an unbiassed opinion from Gorbachev.
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Where we differ is I just don’t see any of the problems you list as actual problems. I’m in favour of immigration, it does us a lot of good which is why conservative policies actually encourage it, and illegal immigration is a tiny fraction of it overall. Crime rates are down significantly from the 80s. Even in the EU we had all the sovereignty we could ever need, and negotiated opt outs of huge swathes of regulation…
If you can't see that immigration is having a negative impact, which so many voters perceive, then yes you have a minority perspective. Crime in the UK is so bad in some areas that Ukrainian refugees were shocked.
As for the crime rate the perception is divorced from reality, I’ll quote from Wikipedia: “The United Kingdom's crime rate remains relatively low when compared to the rest of the world, especially among first world countries.” Our crime rate is a fraction of that in Ukraine before the war. Their murder rate was three times ours.
Both of these items have a duration. They have to match the duration between their assets and their liabilities or they end up insolvent. If enough of the depositors try to pull their money out of the bank, then that reduces the duration of the banks liabilities, and the bank won't be able to move quickly enough to sell their assets to stay solvent.
The tech companies that are complaining about FDIC intervention caused their own problems because they are panicked morons.
Even more ridiculous is any one of these mega tech firms could probably step in and solve this situation with a cash infusion. They would almost certainly come out ahead because they would be buying a claim on the bank's assets for less than they are worth. But they won't. Because they don't know what they're doing.
What happened here is no different than what has happened in every banking crisis pre-08. The economy will be fine, someone like Berkshire Hathaway will make a stupid amount of money and customers will blame a bank for a problem that they created by being stupid.
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I mean, you just said you backed with them, so clearly they provided you a service, one that other banks may have been hesitant to (traditionally)
Why would other banks be hesitant?