March 14, 20232 yr Author 4 hours ago, DrPhilly said: "Get woke and go broke” - Munson When did Biden get woke?
March 14, 20232 yr 21 minutes ago, Dave Moss said: When did Biden get woke? It was during the Roaring Twenties; he got the jim-jams, after some malarkey with a flapper's gams.
March 14, 20232 yr 11 hours ago, Blazehound said: I’d be fairly surprised at this Nomura is a huge outlier with this call. I'd expect a 25bps increase, a pause in QT, and Powell signals Fed may be done. Especially after marginally hot CPI today.
March 14, 20232 yr Trump Deregulates the Train Industry and we have a Train accident. Trump Deregulates the Bank industry and we have bank failures. You don't have to be Harvard educated to see that there is a connection. While on the right these things happened because of Wokeness and Homosexuals.
March 14, 20232 yr 4 minutes ago, jsdarkstar said: Trump Deregulates the Train Industry and we have a Train accident. Trump Deregulates the Bank industry and we have bank failures. You don't have to be Harvard educated to see that there is a connection. While on the right these things happened because of Wokeness and Homosexuals. both narratives are too neat. I don't think either are easily tied back directly to those deregulation efforts. I do think there's sense to keeping the financial investment companies separate from traditional retail banks. but I think we're a bit past that and don't see anybody who'd be willing to drive a wedge between them now. That said, SVB's failure is due to simple poor management. They tried to raise funding to make up for shortfalls, which spooked its customers and caused them to withdrawal billions. It's not because they're woke. It doesn't appear to be due to regulatory changes either. They were too heavily invested in the very same investments that SS is "investing" in, and due to inflation lost a bundle. That's what it seems like to me.
March 14, 20232 yr 8 minutes ago, JohnSnowsHair said: both narratives are too neat. I don't think either are easily tied back directly to those deregulation efforts. I do think there's sense to keeping the financial investment companies separate from traditional retail banks. but I think we're a bit past that and don't see anybody who'd be willing to drive a wedge between them now. That said, SVB's failure is due to simple poor management. They tried to raise funding to make up for shortfalls, which spooked its customers and caused them to withdrawal billions. It's not because they're woke. It doesn't appear to be due to regulatory changes either. They were too heavily invested in the very same investments that SS is "investing" in, and due to inflation lost a bundle. That's what it seems like to me. My understanding is, Dodd Frank required the regulation of Large Banks like Wells Fargo and Chase, while small retail banks were not subjected to the regulation. The regulation required the large banks to have enough cash on hand, in case there is a run at the bank, like what was seen with SVB. The deregulation took that requirement away and treated Big banks like small retail banks and opened the door for them to invest in risky investments. Thus they didn't have cash on hand for the run, yet the CEO still got his Golden Parachute on the way out. Depositors will be protected by the FDIC. Shareholders will not be reimbursed according to Biden. When Peter Thiel pulled out his Fund money, the bank was a goner. Mismanagement clearly played a large part of it, yet the CEO and executives still made out. Fun with Dick and Jane comes to mind.
March 14, 20232 yr 1 minute ago, jsdarkstar said: My understanding is, Dodd Frank required the regulation of Large Banks like Wells Fargo and Chase, while small retail banks were not subjected to the regulation. The regulation required the large banks to have enough cash on hand, in case there is a run at the bank, like what was seen with SVB. The deregulation took that requirement away and treated Big banks like small retail banks and opened the door for them to invest in risky investments. Thus they didn't have cash on hand for the run, yet the CEO still got his Golden Parachute on the way out. Depositors will be protected by the FDIC. Shareholders will not be reimbursed according to Biden. When Peter Thiel pulled out his Fund money, the bank was a goner. Mismanagement clearly played a large part of it, yet the CEO and executives still made out. Fun with Dick and Jane comes to mind. They had one of the lowest LDRs among banks. They failed because they invested too conservatively. Not because their investments were too risky. Bernie's narrative is wrong.
March 14, 20232 yr Just now, JohnSnowsHair said: They had one of the lowest LDRs among banks. They failed because they invested too conservatively. Not because their investments were too risky. Bernie's narrative is wrong. They would have passed a large bank stress test with flying colors. Everyone trying to blame Trump, Biden, the Fed, etc. is just being a hack. This was a complete failure by company management.
March 14, 20232 yr 4 minutes ago, vikas83 said: They would have passed a large bank stress test with flying colors. Everyone trying to blame Trump, Biden, the Fed, etc. is just being a hack. This was a complete failure by company management. Yet company executives and the CEO got paid. That's what it's all about. I got mine who cares about the little guy. Should be illegal during a collapse.
March 14, 20232 yr 1 minute ago, jsdarkstar said: Yet company executives and the CEO got paid. That's what it's all about. I got mine who cares about the little guy. Should be illegal during a collapse. I know you're stupid, but you do realize that the bonus payments are subject to clawback, right? Oh no. You don't. Because you're just a partisan hack.
March 14, 20232 yr Just now, vikas83 said: I know you're stupid, but you do realize that the bonus payments are subject to clawback, right? Oh no. You don't. Because you're just a partisan hack. Whatever. Nothing like Golden Parachutes' for executives during a bank failure. It's the American Way.
March 14, 20232 yr 12 minutes ago, JohnSnowsHair said: They had one of the lowest LDRs among banks. They failed because they invested too conservatively. Not because their investments were too risky. Bernie's narrative is wrong. wait, i thought fox news said they failed because they were a woke bank ? im confused. more than usual.
March 14, 20232 yr 32 minutes ago, jsdarkstar said: Yet company executives and the CEO got paid. That's what it's all about. I got mine who cares about the little guy. Should be illegal during a collapse. dude, starting with a narrative and trying to fit the story to it is not intellectual honesty.
March 14, 20232 yr Just had a rare daytime poop! A bit of afternoon delight, if you will. Sometimes you just have a good day. Peace, everyone.
March 14, 20232 yr The Banking Education of Barney Frank https://www.wsj.com/articles/barney-frank-signature-bank-failure-silicon-valley-bank-dodd-frank-congress-elizabeth-warren-d1588178 Pretty interesting: Barney Frank sits on the board of Signature. As for the failure of Dodd-Frank’s regulatory machinery to prevent the latest bank failures, Mr. Frank is taking no blame. He says the reforms made the system sturdier, and he also dismisses claims by Sen. Elizabeth Warren that some modest Trump-era changes in bank rules for mid-sized banks made a difference. "I don’t think that had any effect,” Mr. Frank told Bloomberg. "I don’t think there was any laxity on the part of regulators in regulating the banks in that category, from $50 billion to $250 billion.” He ought to know from where he sat on the Signature board.
March 14, 20232 yr Trump, Who Bragged About Gutting Dodd-Frank, Claims ‘Wokeness’ Caused SVB Collapse WASHINGTON ― Former President Donald Trump on Monday blamed "wokeness” for the collapse of Silicon Valley Bank rather than the law he signed in 2018 that gutted the Dodd-Frank federal regulations on smaller banks. Trump bragged within days of taking office that he would go after the Dodd-Frank Act, which was signed by President Barack Obama in 2010 after the 2008 financial crisis and which forced banks to be more conservative in investing their depositors’ money. "Dodd-Frank is a disaster. We’re going to be doing a big number on Dodd-Frank,” Trump said on Jan. 30, 2017, as he signed an executive order requiring that agencies eliminate two regulations for each new one they wanted to implement. Sixteen months later, he signed a bill that freed regional banks like SVB from many Dodd-Frank rules. "They shouldn’t be regulated the same way as the large, complex financial institutions,” he said. "As a candidate, I pledged that we would rescue these community banks from Dodd-Frank, the disaster of Dodd-Frank, and now we are keeping that commitment.”
March 14, 20232 yr Remember when Barney Frank and Anthony Weiner were both in congress? Talk about a sausage fest...
March 14, 20232 yr Author 2 hours ago, Arthur Jackson said: Remember when Barney Frank and Anthony Weiner were both in congress? Talk about a sausage fest... Don’t forget Dick Durbin
March 14, 20232 yr Just now, Dave Moss said: Don’t forget Dick Durbin There are so many Ds in congress it seemed a banality If only Felix Frankfurter hadn't chosen the judiciary... alas
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