Silicon Valley Bank collapses

[Meghan54]

Yellen and the fed have switched more positions in the last week than a yard engine building a consist and now that a liquidity crisis has been exposed in the small banks they are unsure of how to address it. Their strategy is to raise rates until over 2m jobs are lost which causes a domino effect across multiple market sectors.

Investors are spooked by it and are pulling assets out which destabilizes the banking system. This has also spread into the EU banking network and no matter how many leaders get on tv and try to reassure their constituents that all is well it isn't. Fun times.

You still have not addressed the question posed about your “on the sly” comment about the Treasury meeting. Odd.

Not really, given the source. 🙂

And this seems to be one of the results of the “on the sly” meeting:

First Citizens shares soar 50% after bank buys chunk of failed Silicon Valley Bank — CNBC

The deal will see First Citizens BancShares purchase approximately $72 billion of SVB assets at a discount of $16.5 billion.

apple.news

 

[darkswordsman17]

An admittedly conspiratorial, thought came to me. What if the SVB situation was intentional and spurred by the Tech giants, looking to strangle even more control out of their workers? Lots of the people those companies fired probably could've been looking at startups, but if this throws funding for them into disarray, they'll likely be forced to accept worse jobs/conditions.

It wouldn't even necessarily have to be say Zuckerberg/Cook/Bezos/MS/etc behind it. Even slimesucking assholes like Peter Thiel and other powerful but not super well known entities could be doing it for shitty reasons (i.e. forcing more jobs offshore, forcing worse working conditions to be more acceptable).

I also wouldn't rule out someone like Musk, out of sheer pettiness looking for revenge for his own idiocy with regards to Twitter (both to screw over the former employees, but also to screw over banks/finance side that he likely blames for the situation and some of his own personal issues).

 

[Puffnstuff]

And this seems to be one of the results of the “on the sly” meeting:

Tongue in cheek for emergency meeting. Look at the specific regions represented which makes me wonder if this was a targeted action.

 

[iRONic]

Trip over that back pedal?

 

[MrSquished]

Robin Williams on banks back in 2008

https://www.reddit.com/r/wallstreetbets/comments/125uxde