There's A Run On Silicon Valley Bank (SVB) [Now Failed], Causing Panic Amongst Tech Startups
The biggest news today in tech is a run on Silicon Valley Bank, as tech startup customers frantically try to get their money out as the bank risks collapsing. Some background - VCs urge startups to withdraw funds from Silicon Valley Bank and Silicon Valley Bank drops another 60% and is halted, as pressure mounts on banking sectorand Silicon Valley Bank Financial in talks to sell itself after attempts to raise capital have failed, sources say
We are not sure how many security industry companies use SVB. A while back, we reported that Turing claimed a $10 million credit facility and that recently Evolv has been using SVB.
*** ** ***** *** ** ****** other ******** ******** ********* *** **** but *** **** *** ***, ** do *** ****.
*****'* *** ********* **** *** *** individually **** ******** ** *** ** might (** ***** ***) ******.
****,*** *********** ** ********* ******** *** PRC **** ********:
*** **** ** *** ** * huge ******* ** *****, *** *****’* second-largest ******* ******* ****** ***** ******* Valley, ******* *** *** ***** *** first ********* ************ ** ***** ******** to ******* ******** **** *********** ***** shunned ****. *** **** *********** *** first ******* *** ****** *** ******* ago.
*** ****** **** ** ********* **** in ***** ******* ******* ******** ***’* raise ***** **** ******** ********* ** foreign ********** ******* ******** **** ********, thanks ** *****’* ******** **** *** currency *** ************ ** ******* **********. Opening *** ******** *** **** *** of *** ******* **** *** ***** Chinese ******** ** **** **** ******** investors.
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** ********** ** *** **** ** fine, ***** ***** *** ****** *** is ********* **** ********* *** ****** a *** ** ***** ******* ********* are ******* ******* **** ** ** unprecedented **** *** *** ****** **** for ***, **** * *** ****** ago *** *** *** ** *** largest ***** ** *** **. *** issue **** ** ** ***** ** a ********* ****** ** ********* ******* out ***** ********, ***** ** ******** possible ** ***** ***** *** ***** VC ***** *** ************ ****** **** their *****, ** ** ***** *** their ******** ***** *** **** ******* level. ******** * *** **** ** their **** **** **** ****** *******, which * ********** ** * ***** think **** *** **** ***** ******* money ***** ** * **** * start ** **** ******* ********* *** those ********* **** ** ***.
* ** *** ** ****** ** finance *** * ***** ** ********* if **** "*** ** *** ****" spread ** ***** ************. **** ********* at ***** ***** **** ***** **** heard ** *** *** ***'* ** concerned **** (*** **) **** **** the ****. ** **** **** **** or ***** ***** ***** ** * real ****** ** ***** ************ ** well, *** * **** ***'* *** that **** ***. ** * *** to ***** * ***** *** **** bigger ***** *** ******* ***** **** and **** **** ** ******* *** while **** *** *** ** *****.
********* *** **** ****** * **** on ****, ** ****** **** ** startups **** ***** ***** **** ***:
**'* * ******** *** ** ** also ** ******* *** **** ** Stanford ******** ******, ** ***** * don't **** ******* ****'* ********* ** SV, ** *** **** **** ** right ***** ***** ******.
******* ****** **** *** ********* ** ***** ********** ** **********.
**** ***** *******:**** ******* * ******* ********* ******** Bank ** ***** ***** ** ******* Insured ********** ** ******* ****** ****, Santa *****, **********
**** *****:
*** ******* ********** **** **** **** access ** ***** ******* ******** ** later **** ****** *******, ***** **, 2023. *** **** **** *** ********* depositors ** ******* ******** ****** *** next ****. ********* ********** **** ******* a ************ *********** *** *** ********* amount ** ***** ********* *****. ** the **** ***** *** ****** ** Silicon ****** ****, ****** ******** ******** may ** **** ** ********* **********.
****, * ****-**** ****** *** ********* with **** **** $***,*** ** *** bank:
********* **** ******** ** ****** ** $250,000 ****** ******* *** **** ****-**** at *-***-***-****.
* **** *** **** ***. ***** I ***** *** **** ** ** comment *****.
****, *** ** *** * "***" react, ** ** **** **** *** Facebook?
***** ******* ** ******** *** ***** buttons:
******** **, ****- **** ****** **** *** *** button
***** *, ****- ****** ********** ***** ****** ***** buttons
****** **, ******#* **** *** ***? ******, **#* suggests * ***** ******
**** *, ****- ***#* **** *** ******** *** button
******** '***********' *'** ***** ****.
| 03/12/23 02:05pm
** **** *** **** ** ***?
***** *** * ****** ** ********** about **** ** *****, ********* ******* people ******** *** ** *** ***** at *** ** **** ** **** night *** ***** ****** ******* ******** everything *** ** *** *** ** panic.
******* *****: ****** ********.
* *** * ****** *** ***** in *** **** **** *******, *** it ****'* *****.
*** *** ** ******* ****** **** sold $*.** ******* ** ***** ****** the **** *** *****.
*** ** **** *********?
*** ************* *** ********* ******** *** ********* about ****** *******:
***'* ******* ****** **** ********* ****** Silicon ****** **********, **** ******* ***-****** companies **** ** **** ** **** payroll ** **** ***** **** **** up *** ******.
*** **** **** *** ******* *** depositors **** **** ****** ** ***** insured ******** ** ***** **** ****** morning. *** **** ******* ******** ** to $***,***. *** ********* **** ** would *** ********* ********** ** ******* dividend ****** *** **** ****. ********* depositors **** **** *** * ************ certificate *** *** ********* ****** ** their ********* *****.
**** ******** **** **% ** *** portfolio ****** **** *** (****** *** a ** ***** **** ** **** might ** ***** **** **** ******* in **********):
**** *** ****** **** ***** ***** proudly ******** ** ***:
* *** ***** *** ** ****** again, *** ******** ********** ** *** but******* ***** *** *** ***** **** changed:
***** **** ** * ****** **** journalist *** *** **** ******** ** Silicon ****** (*********** *** *******) ******** *** ***********:
**’* *** ******** ** ***** ****, self-interested ********** *********** ****’* **** ******* this ******** ** ******** *** ** years. *** ****, ************ **** **** telling ** **** **** ** ****** have ******* ** ********* ** ******* Valley, ** ****’** **** * **** on ******* ** *** ***-*****, ***** other ********** ******.
******** *** *** *** ******* ********* even ****** **** **** ***** *****’* enough *** *** **** ******’* **** if ** *** ***** *****. *** now * ******* **** *** **** a ******** ** **** ********* *** 40 ***** ** ****. *** **** too *** ******** ** ****** — more **** **% ** ***’* ****** were *** *******.
*** ******* *** ****** ******* ** this *** ********** ** ******.
**% **** **********? ****'* ******. ******* to *** *** ******* **** **** next ****. ***** * *** ***** 10x10 ****** ** ***?
**, **%, ** **** ****** ** true, *** *** ********* ** *** US ********** ****.
*** ********** *** ****** **** *** be ********** ** *** **** **** of **** ** *********. **** ** not ***** ** *** **** ***** assets *** ***** **** ***.
| 03/10/23 09:48pm
**, **% *** *** **** ********** from **** * ** ****** (**** on ******* ***** ***** **** ** and *** *** ***).
* ***** ********** ** ***'* ******** were ***** *** $**** **** ********* limit. **** **** **** ****, **** average ******** ** *** *** ******-***** millions. **** ** ***** ***** ***** out ********* *** *********. ***** *** definitely ***** * *** ** ********** of *****, ** ***** *** *** moment. *** ********* *** *** ***** to ** **** ***** **** ** a *** ** ******* ******* **** might **** ** **** * ******* of **% ** **.
*** ****** ***** ***** *** ** that *** **** ******** ** *** remaining ******** ***'* **** ********* ****** to ***** *****, **** *** ******* ones. ** * *** ** **** about *** ** **** ******* **** week, *** ** *** ******** *** all ***** ** ******** ***** **** is ****** ******* *******, ***.
*** ******* ***** **** ** ***** more ******* ** ********* ********* ** access ***** ** **** ** *** loss ** ***** **********.
***** *** **** **** ******** ***** scheduled *** **** *** ******* *** Monday *******. * **** **** ** update ** * **** ******** **********.
*** ********* *** *** ***** ** be **** ***** **** ** * lot ** ******* ******* **** ***** wind ** **** * ******* ** 10% ** **.'
************, ***** **** **** **** ******** over $*.** ***** **** * ********* loss, ***** $***,*** ** *******? ($*.** x **% = $***,***).
| 03/10/23 10:21pm
*** *****.
**** ********* ****** ** ** $**** in ******* ********. ******** **** $**** is *** *******. ** ** *** have $*.** ** ** ******* *** your **** ***** ** ** ***** failure **** ** ******** ****** *** FDIC ****** *** **** $*.***, ** 90% ** **** ********.
*** *** ** *** ******** ** wind ** ** ***** ******* ****. It **** *** ****** ***, ****** and *********** **** *** ****** ***, and ******* ******* **** *** ******* "something" **** *** **** *******. ***** now **** "*********" ** ******* ******** to ** ****** **% ** ***-******* asset ******** (*** **** ** **** a ******** ******).
** * **** ****, ** ****** has ******** ******* ******** **** **** than $**** ** ****, *** ****** consider ********* **** ** **** * spouse/partner, ******** **** ** * ********. That *** *** *** ** $**+ in ******* ******** (***, ****, ***+****, You ***->****, **** ***-***). *******, *** very ******, *** ***** **********.
*********** *** ********* ***** ** *** ****** *******:
“*** ******* ** ******* ** ***** founders *** *** *********, ‘* **** payroll **** **** *** *’* *** able ** *** **** ** *** account ***** ***.’ *** ***** *** money **** ** ***** ** *** future, *** **** **** ** ***** now,” **** ***** *****, *** ** startup **** *** ****** ******** *******....
*** ** ******, **** ******** ****’* know ******* **** ********* **** ********* on ******** ***** ** *******. *** FDIC **** ************ **** **** ***-********** before **:** ** ******* **** ******** would ** *******.
“**** ********* *** ******* ******* **** week *** ******** ** ******* ******* that **** ** *******,” **** ***** Arnold, **-******* ** * **** ***** fintech ******* *****....
*** ******* ******* **** **** *** about $** ******* ** ** *** checking ******* **** *** **** ******. The *******’* ******* **** ** *** trying ** **** * *** **** account *** *** *** *******’* ******** bills *** ***** ********** ** *** vendors *** *********.
**** ****** **** *** ******** ** SVB's ****:
**** [***]********* **** ***** **** ****, ** they **** *** *** **** ****, but **** ****’* **** ***** ** you ******** *** **** **** ** longer-dated *****-****** **********, ***** **** ***** when ***** **** **. *** ****, when ***** **** **, **** ********* all *** ******, ******* ** ****** out ************ ********* ** *** ******** *****, and ** * ******-********-**** *********** **** didn’t **** ***** *******. ** **** withdrew ***** ********, ** *** *** to **** ***** ********** ** * loss ** *** **** ****. *** you **** **** ***** *** **** financially *****, ** ********* *** ******* and ******** **** *****, ** *** sell **** **********, ** *** **** more ******, **** **** ****.
...
******* ****** **** ** ** ***** not ***** ** ** *** **** of ********, ***** ** **** ****** on ***** ** **** ** * herd ****** **** ******* ****** ******* capitalists. **** *** ****, ** * bank, ** * ******* ****** ** diversity ***** **** **********. ** **** depositors *** ******* *** **** ***** money ***, *** ***** ********** ******** your ******* ***** *** ****** ****** are **** *** **** ***** ***** in, *** **** **** ********** **** their ***** ** ******* **** ****** don’t *** ********* ** ******* ****, then *** **** * **** ** muddling ******* **** ********.
*** ** *** ** **** ********** are ******** **** *** **** ******* of ******* *********** ** ***** ******, and *** ***** ******* *********** *** competing **** **** ***** ** *** Value *** ** *********** *** ** The ******* ***** ** ******* *** their ********* ********* ** *** “***, did *** ****, ********’* ****** ***** out ** ******* ****** ****, *** should ***,” **** *** ** **** depositors **** **** ***** ***** *** at *** **** ****.
*** **** **'* ***** *****'* *** remit ** ** ***.
*** **** **'* ***** *****'* *** remit ** ** ***.
** *****'* **** ****** ******** ****, they ***** * ********* ******* **** SVB:
* $** ******* ******** ** ********* under *** *** ***-******** ********* ******* implemented ** *** ****** ******* **** Silicon ****** ****. *** ******** *** equal ** *** ** *** **** we *** ********** ******** ** *** preceding ***** ******** ** ******* *** pure ************ ***** ********. ***** *******, we ****** ******* **** ****** ** to *********** ****** *** **** *** to ******* ******** ****** *** *** pure ************ *****.
**** ******** **** ** *** ******** of*****'* ** **** ********.
** ***** ***** ******* **** *** 2022 ********* $*** ** *********:***** ********** ********* $** ******* ** Non-Dilutive **** ********* **** ******* ****** Bank
*** ****** **** ***'* ***** ** me- *** **** **** **** ******* impact **********/************?
* ***** ***** *** *** *******'* impact **** ** ******** *** *********** catastrophic *** ****, *** ***'* ************ (e.g., *-**********, ***.) ********* **** ***** own ****-****** ****** *** ********** **** are * *** **** *********** **** from *** ******* ******* ********* **** like ***?
| 03/10/23 09:49pm
*** ***'* ************ (*.*., *-**********, ***.) generally **** ***** *** ****-****** ****** and **********
***, *** *** **** ***** ** typically ********* ***********, *** *** *** often * ******* ******.
**********, *** *********** (*** ** ***** a *** ***** *****) *** **** an *** ********, ****** **** *** CEO:
********* ** *** ****** *** ***** successful *** ***** ****************** **** **% ** ***** ************'* **** ******* ** *** **** month:
*** ******* *** *** ** ********** to ** ********* ******* ** ** a *** *******. *********** *** *** partners **** **** **** ******** ** dollars, ********* * ****** *** *** risk **** **** ***** *** ****** they *** ****** *** ******** **** as ****? *** ** **** *** the ** ********** ** **** *** Silicon ******'* **********?
*****'* ******** **. **** ********** ***'** built ** ******** ** *****, **'* easy ** ***** *** ***** ********** for * *** ***, ***** ** wrong. *** **** ********* ****** **** this, **'* **** ** * "**** you **". ** *** **** ** save ***** ** *** *********, *** choose *****. ** *** **** ** stop * **** ******* **** ******* a ***** ** **********, *** *** for * ********** *******. **'* **** what *** **.
*** ***********'* ********* *** ********* *** request - **** **** ********** (*** presumably ***) ***** ********:
*********, ** ** ************* *** *********** percentage ** *** ********** **** *******.
**** ****** ******* - *** **** of ***** ********* *** ****** *****? how **** ** ***** ********* ***'* have ******* / ****** *** *** should ******** ** ****** ******? *.*. Jason ******** ********* ***** **** ** these **** ******** ***'*:
******* **** ****** ***** ********** *** full ******** ****:
*** *********** ******* ** *** **** talk ** ****, *********, *** ** in *** ****** ***** **** ** one ** ********* ********** ** ****** it ** **** ****** ** **** more ***** ***** **** ****.
******* *********** *******, **** *** ****** that *** ****** **** *** *** not ***** ***** (**** *******) ******** rate **** **** ****** **** **** treasuries:
*********** *** ****** * ************** *** "***** ******** ********** ** Silicon ****** **** ****** ** **** whole." *********** **** **** ******* ** to "***** ********" *** * ***'* see *** ********** ** **** **** consider ** ** * ***** ********.
**** *** *** * *** ******:
** *** * ********** *********,one-third ** ******** **** ******** ** *** **** *** ** ***** **** **** *******. As a result, they will fail to have the cash to run payroll in the next 30 days. [emphasis added]
*** ****** ******** ***** ** *** as *******, ***** *** **** *** already ******* * ******* ** $***,*** by ******** *******.
*********** ******* **** "***** ******** *** now *********** ** ****, *** ******* further ************, ********* ** *** **** website,may ** ************ *** ****** ** ***** [emphasis added]". That timeline is far more pessimistic than what virtually anyone else is saying.
***'* ***** *****:
*********** ** *** *** ** *********** with *** **** ****** ** ********* during ***** *** **** **** ** quickly *********.
**** **** *** ******** **** ******* Valley ****, ******** ****** $*** ******* or **% ** *** **** *** cash *********** ** ** *****, *** "largely *********," ********* ** **************://****.**/**********.*******.***/**********
— ********* (@********)***** **, ****
*** ****** ************ *** * ***** ago:
******* ***** **** ******* ** *** Cramer:
*** *.*. *** ** ****** ******** programs ******* ***** ******** *** ** is *** *.*. ** ********* ********.
*** *.*. ** ********* ********.
**** ******* *** **** ********* **?
**** ******* *** **** ********* **?
**** **** ****.... *** **** $*.**, JPMorgan **** $** *******, **** ** America **** $** *******, ***** *****'* market *** ** **** $** *******, Citigroup's ****** *** ** **** $* billion, *** **** ******* * *** began ** ***** ******** ****... *** the ***** ****'* **** *** ** yet.
******** **** $** *******, **** ** America **** $** *******
** ****** *** * ****** $*** billion ****** ***:
**** ** ******* *** * ****** $250 ******* ****** ***:
********* *** *** ** ** ** "financial ********" *** *** *** ******* what *** **** ** ********* ********?
****’* ******* ******** ****** *** ******* investments. *** ** #**!*******'* **** ***** ****
** *********** **** ** ***** ** option *** ********* ** *** ********
*******, ***** *** **** **** *** not *** **** ********* *** **** the ****.
**** ** ** ******* *** ********** to *** **** *** ** ****:
*** ******** ***** ****** ** **** if **** ***'*, ******** ***** **** be *********:
************, *** **** *******, **** ********, Pennsylvania, *******, *******, ***. ****** **** or **** **** **** *** *** fallen?
*** ********** ********** ************* ** ****, ************ **** *** was *** ******** ** ******** ****** on ***** **** *** **** ******* they ***** **** ** ********:
********** *** ******* ***** **** ***** banks ** ****** ****-**-****** ****** ** some ********** ** **** ****** ** hold **** ** ********. ** ***, the ****** ******* ***** **********—********** ******* of ******** ***** ****** ** **********-********* entities—is ***** *** ******* ******* **** is.
*** **** ****** **** * ****** is **** ** ********* ** *********** from *****-**** ***** **********. *** ******* this ***** ** ***-****.
*****, * **** *** *** ** able ** **** **** ********** ** maturity ** ** ***** * **** crunch, ** ******** ** ***. *** selling *** ********** ***** ***** *** bank ** ********* *********** ******* ******.
******, *** ********* ** *** ********** means ***** **** *** *** *********** from ******* **** ****** ******, *********** causing ******** ** ****** *** ****. That ******* ** **** **** *** case ** *** *** **** ***** banks ** ****** ******** ***** ** 2022 ****** ***** ****** ** **** markets
**** ******** ***** ******** ** **** under *% ** ~*% ** *** past *** *****, **** **** ***** older ***** *** **** ********, * problem *** ***.
***** *** **** ****** ** *** same ******* *** *****,*** **** *** *******:
*** ******* ******* ********* ****. ** February ******** **** *.*. *****’ ********** losses ** *********-***-**** *** ****-**-******** ********** totaled $*** ******* ** ** ***. 31, ** **** $* ******* * year ******* ****** *** ***’* **** push *****.
** ******** ***** ******* *** ****** to ******** ******, ***** ****** **** reverse. ** *** ********, ** **** stay ** ** **, ****** ***** be **** *****.
*******, ** * ********** ** ******, SVB ** ****** ** **** * far ******* ****** **** ***** **** diversified *****.
******** ********* ********** ***** ** ******* *** *********** what ** ** *** **********:
during *** ********* ******, there were investors and owners of large, systemic banks that were bailed ***, and we’re certainly not looking. And the fixes that have been put in place mean we ***’* ** **** *****. But we are worried ***** *** ********** and focus on trying to meet their needs.
** *** **** ***** ** *** problems ********** **** ****, **** ** which *** ***** ********** ********* ****** across *** *******. *** ** ******, that’s * **** *******, *** ******* with ********** ** *** *** ******* those ********. [******** *****]
********* **** **** ** *** ********* their ******** ** ***:
*********** ********** **** * ** ****** analyst, ******* **** "**** ****** *** a ******** *** ******* ***** **** other *****" ******* *** ***** ***** that ***** **** ** *** ******* risk ******** (****** *****) ** ** has **** *** ****** ********** *** a **** **** ***** ** ***** and ********** ******** ** *** ********:
** *** ****** **** **** ** much ********* **** ***** *****, **** would **** *** **** ** ****** is ****.
| 03/12/23 02:34pm
* ******* *** ********* ** ***** but *** ****** ** ******* ** this ******-**** ******.
********* ** *** ************ **** ** ********** *** **** final **** *******. ** ***** ******* yet (*.*., ***** ****** *** ** cover *** **********, ***.).
****** ********* *** ****** *********** *************** *** ****** ************ *** *** ********** ******* people *** ********** ******* **** *********:
** ******** *** ***** ********* ***** bond ****:
**'* ***** ******* *** **** ** bond ****** ** ******* ** ******** rate ** * ***** ***** ** undergraduate ******** ******* *** *********, ** billionaires *** ******* **** **** ** some ****** ***** **** ** *** could *** ******.
*****'* **** ********** ***** ***** **** depositors *** *** **** ** ********. For *******, **** ** * ******** traded ******* **** ** $* ******* valuation. *** ****** ********* ********** **** for ******* ****** * **** ******* dollars **** ***? ****'* ************* ********* than ** ****** ***** ******** **** a *** ******* ******** ** *** million ******* ** *** ****.
*****'* **** ********** ***** ***** **** depositors *** *** **** ** ********. For *******, **** ** * ******** traded ******* **** ** $* ******* valuation. *** ****** ********* ********** **** for ******* ****** * **** ******* dollars **** ***? ****'* ************* ********* than ** ****** ***** ******** **** a *** ******* ******** ** *** million ******* ** *** ****.
****? *** ** ** ** *** way *********?
**** ** * ******** **** (************) has * *********** ****** ** **** on ****. **** **** *** ***** small ********, **** **** ******* ** make *** ******* ** ***.
**** **** ***** **** ** *** of *** ** ******* ***** ** the ****** ******, *** ******* **** is "************* *********"?
**, **'* ***. **'* ******* *** same. ***** ***** ** ******************** *** ***** ** *** ** firm ** *** ****** **** ****** mentioned ** *** ** ***** ********* of ********** ********** **** *** * deposit ******* ** *** ****.
**** ** * ******** **** (************) has * *********** ****** ** **** on ****. **** **** *** ***** small ********
**** ***$* ******* ** ******* **** ******* "** ** ******** **, ****, [Roku] ******** *************3,600 ****-**** ********* located in 14 countries", *** *** *******'* **-*.
***** ***** *******, ** *** ***** Roku ********* ** * ***** ********? Or *** *** ****** ***** ********, regardless ** ******* **** **** ********* of ********* *** ******** ** ******* should ** *********** ** ****?
* ***% ** ****** **************** *** **** -- ********** ** size -- ****** **** ************************ ** ****.
* *************** **** *** **** ****** ** their ************ ****** ** ****** *** -- ********** ***. *** **** ****** should ****.
*** ********** ** ******** **** ***** in * ******* ******* ****** *** have *** ******** ** *** **** itself *****. ******* **** ***** * new ********* ** ******* **** ** needed ** ******* ********** **** ******** >$250K (***** ** ** ************************ ** **********) ** ******* ** can ** ******* ***** *** ******** framework, *'* *** **** -- *** the **** **** **** ** ****, depositors ****** ****** *** ***** ** their **** (****** ******) ** ******** insane.
********* *** *** ****** ***** **** just *********** ***% ** *** ******** for **** ******* *******.
* ***% ** ****** **************** *** **** -- ********** ** size -- ****** **** ************************ ** ****.
********* (********* *** ******** ****** ******* at ***) **** *** *****, *** FDIC **** ******* ******* ******** ** $250,000, *** "********** ** ****".
**** *** *** ********** *** **** the **** *** ******** **** ****-*********** rule *** ****** ******* ** ********* the ****-****** **** ************ **** (**** Roku).
** *** ***** ** ***. **** will ** *********** ** *** *** is *** ****-**** ************* *** ******* Valley *** *** **** ******. * suspect **** **** ******** ********** *** scrutiny ** ** *** *** **** remains ** ** ****.
| 03/13/23 01:38pm
********* (********* *** ******** ****** ******* at ***) **** *** *****, *** FDIC **** ******* ******* ******** ** $250,000, *** "********** ** ****".
****, *** *** $***,*** ****** ****** is * ********* ******** ****** **** has *** **** ********* ********.
****** **** ********* *** ****** ******* does *** *********** ****** ** ********-****** backstops. ** ***** ****** ********* **** with ********** ********* *** * **** to ******* *** ***** *******. *** the ****** ********** **** **** ***** is ********* **** *** ****** ********** of ***** ** ***** *** ****** account *********.
** *** **** *****, ** ****** not **** * ******** ***** ********** have ********** ******* ******* ** **** millions ** ******* ** ********* ******* without ****** ** **** *********** ****** all ** ** ** ************* ********** out ** ***** *******. *** ***** idea ** * **** ** ** provide * ***** ** **** **** money ******* ****** ** ***** ***** personally ******** **.
********* **** *** **** **** ******, and ******* *** ****** ******** *****, could ********* *** ** ******* ***** with * **** **** *** *** offer **** ********* *** ******** >$***,***.
*** $***,*** ****** ****** ** * massively ******** ****** **** *** *** been ********* ********.
** *********** ** ******** $***,*** ** $***,***. *** ********* of **** ** ** ******* ********* and ****** ***** **********.
** ****** *** **** * ******** where ********** **** ********** ******* ******* to **** ******** ** ******* ** operating ******* ******* ****** ** **** essentially ****** *** ** ** ** circumstances ********** *** ** ***** *******.
**** ***** *** **** **** ******** close ** ***. ********* ********* ***** ranged **** **% ** **% ****.
*** ***** **** ** * **** is ** ******* * ***** ** park **** ***** ******* ****** ** worry ***** ********** ******** **.
****'* *** *********. **** ** ** international ********. **** ******* ** *** smart ** *** * **** ******* dollars ** ***. **** ***** **** easily *** **** ***** ******** ** Treasuries *** *** **** ******* **** for ***** *** ** ***** ***** but **** ****** ** *** ** into ** ********** **** **** **** was **** ******* ** $***,***. *** bail *** ****?
| 03/13/23 02:15pm
** *********** ** ******** $***,*** ** $***,***.
***, *** ** **** **** *****, the **** ********* ******, ***** ******* at $****, *** ********** **** ********** to ** *** *** *** *** intended *******. ****, *** *********** **** have **** **** **** **** ** be **** *** ***** (****** ****, the **** ********** *** ** ****, and **** **** ****** ****).
*** ********* ** **** ** ** protect ********* *** ****** ***** **********.
$***,*** ** ****** *** * *** of ***** *** * ******* "***** business", *** ** *** **** ****, it ** * ************ ****** ** money, ** ****, ** * ***** business. ************ $** ** * ***** business ******* ** *** ******** ** all.
**** ***** *** **** **** ******** close ** ***. ********* ********* ***** ranged **** **% ** **% ****.
**** ******* ***** ******** *** ***** taken ** ****** **** ****** *** minimal. *** **-***** ******* ******* *** those ******** ***** ******** ****** ** losses ** **-**% *** **** ** the ******** ** **** ******** ***** up ****** ********** >$***,***.
**** ** ** ************* ********.
* ***'* ****, *** **** ***'* about ****, **'* ***** *** ******* system ** *******. *** $***,*** ******* insurance ***** ** *** *** ***, and ****** ***** **** ** ********** and ***********. *** ** ***** ** attract *** ****** ********** *** ********* talents, ***** ****** ******* **** **** more ********** ******* **************.
**** ***** **** ****** *** **** money ******** ** ********** *** *** zero ******* ****
*****, **********, **** *** ****** ** the ** **********. ***** ** ** reason **** **** ***** ** ******* cannot ** ******** ** ********** ** banks. ** * **** *****, **** might ****** ******* *** ******* ** regulations *** ******** ***** *****, **** if *** **** ******* ********* ***** $250,000 ** **** **** *** ***** has ** ** ** ** ******* that ** ** ***** *% **** in ******** *****. ***** ***** ****** an ******* ********* **** ******* * depositor ** ***% **** ******, ***** also ******** ****** ********* ******. **** would ***** ********** ** ****** ****, without **** ****** ** ****** ********** their **** ********** ** ****** * full **** ******** (** ********** ** full **** *********) ** ***** *** personal ********** *******.
*****, **********, **** *** ****** ** the ** **********. ***** ** ** reason **** **** ***** ** ******* cannot ** ******** ** ********** ** banks.
*** **** **** ***** ****? **** make ** ***** **** *** *** US ********** ** **** ********** ****** to *****? *** *** *** *********! (I ** ******* * ***** ** make * *****).
** ***** ** ***** *** ******* to **** *********** ******* *** ********* can *** ****** ***** **** ********** but ****'* *** ******** ********. ** the ** ********** ***** ** ** should ********* ********** **** *** ******* of ***** ****** ** *********, ***?
| 03/13/23 02:37pm
*** **** **** ***** ****? **** let *** ** ********** **** ********** to ****** ******? *** *** *** middleman! (* ** ******* * ***** to **** * *****).
* ***** **** ***** ** ****.
*** *** **** ********* **** ***** into **** ******** *******? *** *** write ****** **** **** ******** *******? Issue ********* ******/***** ***** ** **** employees? *** * ******** ****? **** the ******** ******** ********* *** ***?
* ***** *** ****** **** ***** from ** ******** *******:
**** ***** ***** ********** ** ****** risk, ******* **** ****** ** ****** complicate ***** **** ********** ** ****** a **** **** ******** (** ********** of **** **** *********) ** ***** own ******** ********** *******.
*** *** *** *****:
*** ***** **** ** * **** is ** ******* * ***** ** park **** ***** ******* ****** ** worry ***** ********** ******** **.
*********** ***** *** ******* *** ***** to ***** ********** ** **** ***** in **** **** **** ********. ******* those ******* *** ********** **** ********** overhead ** *** ******** *** ********** things ** * *** **** ******** from **** ******** ** **** ************.
*** ***** ******* ** ***** *** been * **** ***** ** **** your *****. ***** ** ********** * lot ** ********* ******* **** ** not ****** ****, *** **** **** not **** ** ** *** * solvable *******.
********* (********* *** ******** ****** ******* at ***) **** *** *****, *** FDIC **** ******* ******* ******** ** $250,000, *** "********** ** ****".
**** ********** **** **** ******** **** $250,000 ********* ** *** * ** sure ****. *** *** **** ** Million ** *** **** *** *** going ** ****** ** ***** ** a ********?
**** ** **** * *****-****** **** all ******.
**** *** *** **** * ****. In ****, **** **** *** ******** of * ****. **** **** ***** money ****** ** * ******* *******. That ********* ****** ** *** ***** risky ***** **** ****** (********** ** business) *** ** **** ***** *****.
**** *** **** ******** **** **'* at ***************** *** *** ** ******************************* *** ******* ** ****, ** makes ***** **** ********** ***** ** backstopped ** *** **** ** ****.
| 03/13/23 02:45pm
**** *** ******** **** *** *** is ******** *********** *** ***.
*** *** **** ******** ***** ** quickly *** ** ************ **** ********* the ****** ********* ****** *** *** have **** ** ****** *** (**** anyone ***** ******** ** **extremely ************) *********** **** *** **** ** securities ****** *-*%. *** ****** **** basis ** *** ******* ******** *** changed ****** * ~**-***** ******, *** they *** *** ****** ** ******** returns **** ** ***** *** **** of ***** ******** (*.*. *** ***** they ***** ************** **** ** *** depositors). **** ** *** *** *****'* seen *** ***** ***** ******** *% returns ** ******* ******** ******* *** fact **** ******* ***** ***** ******* it -- **** ***** ********* ****** afford ** *** ***** ******** ***** without ****** ***** ******* ***** ******* is ********* ********* ** ****-**** *********** at *-*%.
*** *** *** *** ****** ***** so ************, **** ***** ***** **** happened. *** ****** ****** **** "***** greedy *****", **** ** ********* *** of *** **** ************ ****** **** banks *** ******* ** **** *****.
*** *** **** ******** ***** ** quickly *** ** ************ **** ********* the ****** ********* ****** *** *** have **** ** ******
************ ******* *** ********* ***'* ********** interest **** ****, ***'* **** *** to *****, ***.?
** *** *** ****, ***** ****** are ******* ** *** ******** *** deserve ******** ** ******* *** ** the ***** ****, **** ***'* **** undergraduate-level *********.
* *** **** ******** ********* ***** not ** ***** ** ***** ******, but ***** ****** *** ***** *** finance.
**** ** **** * ********** **** it's ********** ** ******* **. **** like * ******* *** ** **** -- **** $***** ** ********** ****** within ** ***** *** ** **** exact *****. *** **** ******** ********* spoke ** **** **** **** ****** the **** *******.
*** **** ****** ** ****** **** a *********** ***** *** **** ** because ** *** *** **** *** created. **** **** **% ** ***** entire ******* **** ** *** ******** day. * ***** *'** **** **** before ** **** ******, *** ** I *****'*, ***** ** *** * single **** ** *** ****** **** could ********* **% ** ***** ******* outflows ** * ****** *** *** remain *******. **'* **** *** ********.
*** *** *** **** **** *** anything ** ** **** ****, ** firms, ** ******** ** *** ****, but *** ***** ** ************* *****.
************ ******* *** ********* ***'* ********** interest **** ****, ***'* **** *** to *****, ***.?
******* **** ***** ** ********** ** supposed ** ** *** ******** ***** that *** ******** ******. *** *** raised ***** **** *** **** (***'* blame ****, **** ****'* **** * lot ** ***** *******), *** **** turned *** ******, **** ************ ******** bet **** * ***** ****** **** could **** ** *** **** ***** money ********* ****.
*** *** ********** ***** ** ***** up ** ****** ******** ****** ** risk ****** ****** *****.
**** ** ** ********* **** * doctor ****** ** ********** ****** ** action *** **** ******** *** **** effect ** **** ******. ***** ***** you **** ****, *** **'* ******* better **** *** ***********.
****** *** ***** ****'* **** *** talk ** ****** ********* *****, **** depositors. **** ***'* ***** *********** ******, this ** ***** ****** **** *** tech ****** *****'* *******.
*** **** ******* ** ** ***** here.
*** ** ***** ******** ***** ** be **** **** **** ** *** over, **** ****** * *** ** the ******* **** **** **** ********* logical ** *** ****.
*** **** ****** ** ***** ** have ** **** ******* **** ******* to **** **** ***** ******** *****. At ***** ****'** ** **** ** make ******* *** ***** ***'* ** mass ******* ** *** ****** **** (although *'* ****** **** ********* ********** is ***** ** ** ***** ** investing ******** ** ******** *** **** of *** ******* ***** ***).
********** *** ***** **** ***** **** a **** *** ***** ********** ** for ********** **** **** *****, ** the ** ******** ***'* ** *** hook *** **** ***** (** ** they ***).
*******, **** ** ** ******** ***** now:
******* **** ***** ** ********** ** supposed ** ** *** ******** ***** that *** ******** ******.
**. **** *** ** *** ***** even ** ************ ********* ******?
********** ****** ** ******* **** (******** the ** ********** **** *** ********).
********** **** ***** ******* ******* ******** rate ****. *** *** * **-**** Treasury **** * ***** ** *% (or ********). ******** ***** *******, ********, your ******** ** *** ***** **** money. ******** ***** *********, *****, **** Treasury ** *** ***** **** *****.
******** ****** **** *** **** **** so *** **** *******:
** *** *** *** ** ********, banker, *********, ***., ****'* **** *** to **** ****. *** ** *** claim ** ** * ************** ** an ********* ** * ******** ****** company, **** ** ****** ***********.
****. **** *****'* ****** *** **** that, ** *** **** *** **** made ***** *********, ** *** ** low **** ** ********** ** **** could ****, *** ** *** **** a ********** ****** ***** **** ******** the ****, ** *** ******* *** late ** **** ***** *****.
** **** *****'* ****** *** **** that **** **** *** ********* **********, and **** ***** ** **** **** the **** ****.
** *** **** *** **** **** their *********, ** *** ** *** risk ** ********** ** **** ***** make, *** ** *** **** * reasonable ****** ***** **** ******** *** risk,
********** ******? ** *** ***'* ********** Interest **** *** ***** ** **** FDIC ***** ***, ****'* ****, ********* you *** *** *** *** ** CFO ** * ***********.
*** **** ** *** **** ********* exists, ** ******* ******* *******-***** ****** that ** *** ********** ***** ********.
**** ********* **** **** ****** ***** for ***** *** **** **** **** profits ***** **. ** **** ****, they **** * **** (******* **** the ***** *** *** ******* *** that ******** **** ********** ***** *** price ** ***** ** ******), *** instead ** ********* *** ****, **** pushed ** ** *** ********** *** the ****** *********.
| 03/13/23 04:29pm
********* *** *****. ********* *** ******.
**** ************ * *********** **** ** understanding ** *** ****** *********.
***** *** ** "*****" **** ****. SIVB ** ** ****** ** *******, all ** ***** ****** **** **** seized, *** ***** ************ *** ***** to ** ***** ***.
*** **** ***** *** *** ** guaranteeing ** **** ********** *** ******* the ***** **** *** ** *** bank ****.
***** *** ** "*****" **** ****.
***** ********* **** **** **** $***,*** is ******* **** ****, **** ** Roku ***** ****** **** ****** $***+ million. **** **** *** *****. **** were ************* ******* (** ** ***** claimed ** **). **** **** * risk. **** ****. *** ********** ******* in *** **** ***** ********** *** told ******** ** *******.
*** *** **** ** ***** **** the ** ********** ****** ********* *** depositors *** **** *** ******* *** undeniably *** *** ****.
| 03/13/23 04:57pm
* ****'* ***** ***** *** ***** from '****.' * ***'* ***** *** wealthy **-***-**** ***** *** ****** ***** funds ***** ******* *** *** ****, little ** ***. *** ***** **** been **** ** *** ******** ***** in **** ***** ****** ******. *** the ****** *** ********* ******.
*** **** ***** *** *** ** guaranteeing ** **** ********** *** ******* the ***** **** *** ** *** bank ****.
**** ** * ****** *** "*****"!!!!!
** **** ****, **** **** * risk (******* **** *** ***** *** not ******* *** **** ******** **** variations ***** *** ***** ** ***** to ******), *** ******* ** ********* the ****, **** ****** ** ** the ********** *** *** ****** *********.
***, ** ****** **** **** * risk, *** **** *** ***** *** safest ******** ****** **** ***** **** taken. ***'** ****** **** **** **** reckless *** ********* ***'* ******* **********, when **** **** ******** ***** ************ and ********.
********, ****** *** ********** ** *****, knew ******** ***** **** ******* **. Federal ******* ******** ****** ****** *** been ******** **** **** *** ******** tops. *** *** ***** *** **** business ** *****, ********* *****-**** **** depositors *** ******* ****-****, ******* *** interest-rate *******.
| 03/13/23 03:02pm
*** *** ****** ***** ** **** inflation. **** ** ********* *** ***'* job. ********* *** ******. *** ******* sector **** **** *** ******: *** was ****** ****-****** *** ***** ******* holders ****** * ***.
**** ***** **** ****** ** *** previous * *****. *** **** ****** or ** *****. *** ***** *** increase *******.
**** **** ** **** ***, ******* the *** *** *** ** ******* the ******** *** *** ********. *** was ****.
| 03/13/23 03:09pm
**** **** ** **** ***, ******* the *** *** *** ** ******* the ******** *** *** ********. *** was ****.
*** *** **** **** ****?
* ***** *** **** ****** **** reason ** ******* **** ** ******** was ************ ***** (*** **** *****') ability ** *** *** ***** ** work ** *** **** ** *****.
*** ******'* **** **** **** *****? Because ***** *** ******* *****.
*** *** ***** ** *****? ******* of *** *****.
***, *** ***** *****, **** ******* in *** ********* ******* **** *** for *********. **** ****** **** ** resort ** *** ******** **** **** investments.
***** ******** **** *****, * ********** quick ******** ** ***** ** ****-**** money, **** **** ** * *** position.
*** *** ** *** ******* ************** here ** *** ***** ****** ** things.
***** ** ****, *** **** **** failure ** *** ** ******** ** October ** ****. ***** **** * in ****, * ** ****, *** 0 ** ****.
** "****" ********** = "*", ******* a ***** ** * ***** ** the ** **** ****** ** *** last * *****.
****, *** **** **** **** ** somehow ******* ** **** ** *********.
**, *** *** **** **** "*** banking ****** **** **** *** ******" is **** *********. ****'* *** ***** are ** ***** $*** ******* ******* in ***** ********** ****** *** ** this ***** ***** ** *** ******* sector ** *** **. **** ** literally * ******** ***** ****** *** banking ******, ** *** ***** ************** ****** **** ****, *** ******** of *** **** ****:
"*** ******* ******** **** *********** *** had ******** ******* ** *** ************* and **** ******* ** *****’ ******* and ********** **********. ********** ****** ****** a ****’* ****** ******* ** **** unexpected ********* *****."
** ****...*****'* ********* ******* ***** **** post **** ** **** ******** *******.
| 03/13/23 06:39pm
** "****" ********** = "*", ******* a ***** ** * ***** ** the ** **** ****** ** *** last * *****.
****, *** **** **** **** ** somehow ******* ** **** ** *********.
***, * ***** ****** ** * 4 **** **** ****** ** ****. With * ********.
********* ** ** ******* ** ***. If *** **** ** ******* **'* going ** ******, ** *****.
*** **** ********:***** ********* ** *** ********** ** the ********, ******* *******, *** **** | *.*. ********** ** *** ********
********** **** **** ****** ** *** of ***** ***** ******** ******, ***** 13. ** ****** ********** **** *** resolution ** ******* ****** **** **** be ***** ** *** ********
************ *** ******* ********* *********** **** not ** *********. ****** ********** *** also **** *******. *** ****** ** the ******* ********* **** ** ******* uninsured ********** **** ** ********* ** a ******* ********** ** *****, ** required ** ***.
*** ********* ***** ********* ** "*** Silicon ****** **** *******":
**** ****** *** ******* ****** **** in **** ***** **** *** ******* demanding **** *** ******** *** *** intervene ** **** *** ***. **’* revealing ** *** *** *** **** a **** **** ** * ******—*** it ****’* *********** *****-**** ************ ******** ******* ************* *****, **** ******* ***** *********....
******** ********* ***** ****** **** ****** there **** ** ** “*******” *** SVB, *** *** ** ********* ** semantics....
*** ***’* *** *** **** ******** monetary *** ****** ********** ** ******* without *** **** ********** ****** ***. The ***** ******* ******* ** *********. The ****** *** **** ** * financial *****, **** ******** ****** **** may *** *** **** ******* ****** Bank.
******** **** *** *** * ****** that **** *** ************* **** *** to ********’* ******* ******* ***********(*) *** asked *** ******** ** ***** *** payments.
***** **** ******* *** ***** ** have * ***** *** **** *** SVB ***** *** ********* *********** ***** to *** *****.
****** : ******** ** ******** *** wrong ******
** *** **** ******* *** *** it *** **** **** * **** seen. *** ***** ***** ** **** worth * **** *** **** ** the ********* ****.
* *** ** ***** *** ********* this***'* * ********** **** ** ***** **** **** ** *********. *** ********: *** ***** ********* says, "** ****** ********** **** *** resolution ** ******* ****** **** **** be ***** ** *** ********."
*** **** ** **********. *** *** thing, ***** *** ********** *********. *** in ********** **** ****, *** **** institutions *** *** *********** **** **** the ****** ** **** **** ** order ** ********* **** *********** ******. Besides, ***** **** ******** ** ***** don't ***** ** * ****** **** only ******* *** **********; ***** **** on *** ***** ** ********** ********** to ********* ** * ****** ** ways. ** *** **** **** *** government's ******* ***** **** **** **** sort ** ******* **** ** ***********-**** money ** *****.
"*** ****** ** ****** ** *** hook *** *** *** *******, ** matter *** **** ********** ******* ***** won't ** ***** ** *********,"*************** ***. ****** ***** (*–****.) ** Twitter, ******** *** **** "* ******* creates * ***** ******, **** ** it's ****** * ******* ** ********** at * ****; ** *****'* ***—*** instead ***********—*** ******** *******."
*** ***********: **'* ***** ** **** taxpayers ~$** *******,*** *** ****:
*** **** ********* *** **** ** the ******* ** ******* ****** **** to *** ******* ********* **** (***) to ** ************* $** *******. *** exact **** **** ** ********** **** the **** ********** *** ************.
*** **** *** ******** ** *** ** ******** **** taking * **** ** $**.* ******* to ****** **:
** ** ***** **, ****, ******* Valley ****** ****, ******** ***********, *** approximately $*** ******* ** ***** ****** and ***** $*** ******* ** ***** deposits. *****'* *********** ******** *** ******** of ***** $** ******* ** ******* Valley ****** ****, ******** ***********'* ****** at * ******** ** $**.* *******. Approximately $** ******* ** ********** *** other ****** **** ****** ** *** receivership *** *********** ** *** ****.
**'* *** ***** ** **** ********* $20BN. *** *** ** ****** ** banks, *** *********.
*** ***** **** **** *** **** off ** **********, **** *** *** going ** *** **.
| 03/27/23 05:50pm
**** ** *** '********* *** *******, socialize *** ******' ** * ***** criticism.
****** ****'* *** *** ** ***** -- ** ***.
*** *** ** ****** ** ** assessment ** ***** ***** ** ***** total ***********. ** ***** *****, *** assessments *** *** *** *** ***** literally ** ********* ******* **** *** banks *** ***** **** ***** ********** risk.
**, ** *** ***** **** **** are "****[***] *** **** *** ** tayxpayers [***]", **'* ********* ****'** **** "passing ***" *** * ****, **** time -- ********* ***** *** *** became * *****.
********** **** "*********" *** ***** ** bear *** **** ** **** ******** -- **** ********** -- ** ******** disingenuous. ****'* ********* *** ** *** how **** *****, *** ** ********* makes *** * ****** ********* **** you *** **.
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