And now for something really important...SVB failure.

The Silicone Valley Bank failed today. Kaput...gone! People lost their deposits, investments, and retirements. Oh, don't worry, it was only rich people says the left. The left should be worried. Besides being one of the largest collapses since 2008, many important people were touting the value of SVB right up until this month. Washington DC regulators (you know, Biden's crew) were blindsided by events. This bank was also fully invested in ESG practices, you know, Environmental Social Governances. A very left wing philosophy. The CEO and some of the top executives were selling their stock while the getting was good. So...

Why did the regulators fail to see this coming? Was money involved? Was it the incompetence of people more concerned with global warming than people?

SVB is allowed to promote itself even when it is failing. Did the celebrities, government officials, and media personalities take a payoff to give bad advice?

What will this do to the rest of the economy? The Fed is more concerned with diversity than their real jobs.

Did any of our braggart brethren lose their shirts and the their hobby funds?

In their own words https://www.svb.com/

No man (or company) is an island https://www.msn.com/en-us/money/comp...ty/ar-AA18tMUC

https://www.msn.com/en-us/money/mark...wn/ar-AA18ttdN

Better late than never I guess https://www.cnbc.com/2023/03/10/sili...-deposits.html

Another Silicone Valley disaster....

A plain old bank run. Insured depositors will have access to their money as early as Monday. You don't lose investments unless you invested in the bank shares. Retirements are not lost.

Let's see...what else:

no affect on the rest of the economy
philosophy had nothing to do with the bank run
collapse in 2008 you refer to was under what administration

SMH

A plain old bank run. Insured depositors will have access to their money as early as Monday. You don't lose investments unless you invested in the bank shares. Retirements are not lost.

Let's see...what else:

no affect on the rest of the economy
philosophy had nothing to do with the bank run
collapse in 2008 you refer to was under what administration

SMH Originally Posted by VitaMan

The Fed only insures deposits up to 250k. Roku had 26% of their cash at SVB. I’m sure that was more than 250k. Charles Schwab is also tanking.

"As stated in our 8-K, we expect that Roku's ability to operate and meet its contractual obligations will not be impacted," a Roku spokesperson said.

Plus there is private deposit insurance. How do you think Warren Buffett stores his billions of cash ?

A plain old bank run. Insured depositors will have access to their money as early as Monday. You don't lose investments unless you invested in the bank shares. Retirements are not lost.

Let's see...what else:

no affect on the rest of the economy
philosophy had nothing to do with the bank run
collapse in 2008 you refer to was under what administration

SMH Originally Posted by VitaMan

"A plain old bank run" remember those words, they will come back to haunt you.

As someone else already corrected pointed out, FDIC only covers the first 250,000 dollars. Many people have that much more on the line and they are not rich, they are savers. ESG is a philosophy and SVB was a very proud practitioner.
Another dumb and ignorant remark, the 2008 collapse had been building for some time. I recommend the movie The Big Short. Entertaining and informative. The foundation was put in place over many years and was thoroughly corrupt. Besides, how can you beat Margot Robbie in bubble bath.

... That famous Aussie wise fellow Confushiss surely got a saying:
"Follow the money!" .... No doubt several of the top banking
executives there prolly made a number of sales and other
transactions over the last few weeks.

... I'd surely wager a good investigation will show this.

#### Salty

"As stated in our 8-K, we expect that Roku's ability to operate and meet its contractual obligations will not be impacted," a Roku spokesperson said.

Plus there is private deposit insurance. How do you think Warren Buffett stores his billions of cash ? Originally Posted by VitaMan

Great, can you pass along the companies that insure over a billion dollars in cash deposits? Who are they? And why didn’t Roku use those companies? Or should I contact Warren myself?

The only insurance is a government bailout


https://twitter.com/SaltyCracker9/st...00719473360897

There isn’t insurance companies that insure cash or stocks. Your best insurance against a financial calamity is owning physical gold and silver. That’s the best insurance policy.


https://youtu.be/I7mMVVQVAHE

I’ve been stacking silver for years. It’s affordable. Spot price is hovering around $20/oz lately. You’ll pay above that. Canadian Maples are the best deal now. American Eagles have a bigger premium. Get yourself some.

A plain old bank run. Insured depositors will have access to their money as early as Monday. You don't lose investments unless you invested in the bank shares. Retirements are not lost.... Originally Posted by VitaMan

I take it you do not read EULAs either. 1st, it will likely be well past Monday. 2nd, those insured deposits are not dollar for dollar. At best, you maybe get 50 cents per dollar. The fine print is not even that specific.

The SVB/FTX Financial collapses are driving the deep_state money matrix to annihilation.
And all of us get a front row seat.
Major downward moves in the crypto space seem likely to come very soon.

Query:
Who are the 3 largest creditors of FTX?

Sinking Ship.

forbes.com/sites/digital-assetsbillion-nightmare

�� RealSGAnon

I take it you do not read EULAs either. 1st, it will likely be well past Monday. 2nd, those insured deposits are not dollar for dollar. At best, you maybe get 50 cents per dollar. The fine print is not even that specific. Originally Posted by Why_Yes_I_Do

Wrong.

As of now insured depositors will have access Monday to their insured deposits dollar for dollar.

Deposits above the insured amount will also start to be paid once the FDIC completes their work and determines bank assets. They could receive all deposits. It depends. Also another financial institution may make an offer to the FDIC for the bank assets.

Or should I contact Warren myself? Originally Posted by bambino

You should. You have something to insure ?

Too bad the rabid right wingers want to turn this bank failure into something it is not.

Silver lining!.. Harry and Meghan had their cash in SVB... LOL!

The Silicone Valley Bank failed today.

This bank was also fully invested in ESG practices, you know, Environmental Social Governances. A very left wing philosophy. The CEO and some of the top executives were selling their stock while the getting was good. So...

Why did the regulators fail to see this coming? Was money involved? Was it the incompetence of people more concerned with global warming than people? Originally Posted by the_real_Barleycorn

People concerned with global warming is caring for people; and left wing philosophy.

"A plain old bank run" remember those words, they will come back to haunt you. Originally Posted by the_real_Barleycorn

People concerned with other people's money and how it affects them is not caring for people; and right wing philosophy.

You should. You have something to insure ?

Too bad the rabid right wingers want to turn this bank failure into something it is not. Originally Posted by VitaMan

It's something, alright. It's Capitalism: