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Regulators close Silicon Valley Bank after bank fails to raise new capital
Yahoo! Finance ^ | March 9, 2023 | David Hollerith, Myles Udland and Dan Fitzpatrick

Posted on 03/10/2023 10:21:03 AM PST by ConservativeInPA

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But now the Fed is hiking rates at a rapid clip, with Fed Chair Jay Powell warning earlier this week that the central bank may have to speed up the increases to cool the economy further. The problem that creates for banks is simple: higher rates lower the value of their existing bonds.

Is this a harbinger of more problems? Not mentioned in the article is the high level of consumer debt, particularly subprime debt. Auto repos are up and increasing. Just wait until unemployment kicks in.

1 posted on 03/10/2023 10:21:03 AM PST by ConservativeInPA
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To: ConservativeInPA

The next step in the Communist take over. Confiscation of banks by the state. And they have to get it done before 2024.


2 posted on 03/10/2023 10:24:00 AM PST by Openurmind (The ultimate test of a moral society is the kind of world it leaves to its children. ~ D. Bonhoeffer)
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To: ConservativeInPA

Article says “there are “a few” banks the department is closely watching”.....

Which means they’re likely on the edge....wonder which ones?.


3 posted on 03/10/2023 10:24:19 AM PST by caww (O death, when you seized my Lord, you lost your grip on me......)
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To: ConservativeInPA

Why didn’t the California billionaire Venture Capitalists and “High” Tech Oligarchs bail this bank out?


4 posted on 03/10/2023 10:28:27 AM PST by Paladin2
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To: Paladin2

Because they are waiting for the government to use taxpayer $$ to do so.


5 posted on 03/10/2023 10:31:14 AM PST by JoJo354 (We need to get to work, Conservatives!)
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To: ConservativeInPA

“Is this a harbinger of more problems?”

How can it not be? And, Silicon Valley? Are those folks no longer rolling in dough?

Plus, Yellin basically says that other banks are in difficulty.

What did anyone think would happen? The completely corrupt Dem party (see tagline) finagled to install a demented old moron, a man evidently of great corruption himself, in the WH.

They did it to preserve their vast graft network and to protect their utter devotion to abortion among other not good, very bad things.

Now it seems like we are really going off the rails, literally and figuratively!


6 posted on 03/10/2023 10:32:25 AM PST by jocon307 (Democrats delenda est.)
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To: caww

Rumors earlier re:Wells Fargo and BofA. But may be related to posting issues rather than SVB.


7 posted on 03/10/2023 10:33:57 AM PST by donozark (Colonel Tom Parker was a Democrat.)
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To: ConservativeInPA

A few years ago I noticed there were tons of “new” banks on every corner. Sometimes so close together to ring my alarm bells.
There cannot possibly be enough real worth to support this. I personally have a small amount in Chime. They state, they are not a bank. I wonder how many of these brick n mortar banks are just like Chime.
I have been happy with Chime for its specific purpose.


8 posted on 03/10/2023 10:37:30 AM PST by momincombatboots (BQEphesians 6... who you are really at war with)
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To: donozark
A major part of the FDIC focuses on winding down large financial institutions. I’m sure they’re working the SVB resolution.

The FDIC is about the only federal agency I trust.

9 posted on 03/10/2023 10:38:11 AM PST by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: caww

RE:.....wonder which ones?.

Watch for guys selling luxury cars on the front lawn for cash and houses as “must sell—as is.”


10 posted on 03/10/2023 10:43:45 AM PST by frank ballenger (You have summoned up a thundercloud. You're gonna hear from me. Anthem by Leonard Cohen)
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To: ConservativeInPA

Banks invest in stuff...
Show me the top 5 investments..
I bet 3 of them are woke crap..


11 posted on 03/10/2023 10:43:46 AM PST by joe fonebone (And the people said NO! The End)
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To: Night Hides Not

I worked for FDIC for many years. I always thought it was a very well run agency as opposed to many others. FDIC is funded by insurance premiums charged to insured banks. It is not taxpayer funded (unless that changed in the last 10 years.) I helped in the closing of many small banks and a few larger ones. They are very good at what they do.


12 posted on 03/10/2023 11:06:47 AM PST by POWG
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To: frank ballenger

Good tip!


13 posted on 03/10/2023 11:11:32 AM PST by caww (O death, when you seized my Lord, you lost your grip on me......)
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To: ConservativeInPA

"Trump's fault!"


14 posted on 03/10/2023 11:13:19 AM PST by COBOL2Java (Gun laws empower criminals. Guns empower the people.)
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To: donozark

Thanks...


15 posted on 03/10/2023 11:13:40 AM PST by caww (O death, when you seized my Lord, you lost your grip on me......)
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To: Night Hides Not

I agree with you.

They weren’t the primary regulator for this bank.

If they had been, the situation would have been different. They are only allowed to be the regulator of banks below $10 billion in assets.


16 posted on 03/10/2023 11:18:59 AM PST by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: Paladin2
Why didn’t the California billionaire Venture Capitalists and “High” Tech Oligarchs bail this bank out?

The FDIC protects depositors up to a limit of $250,000/per account. Typically, when a bank fails, another bank swoops in and takes over the branches, assets and liabilities. The FDIC usually pays very little. The regulators close banks when they have insufficient reserves. There are probably enough assets to cover all their deposits and liabilities.

17 posted on 03/10/2023 11:19:28 AM PST by Lonesome in Massachussets (Forsan et haec olim meminisse iuvabit.)
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To: ConservativeInPA

Cripto banks are the “canary in the mine”.
Things could get pretty rough very soon....and FJB


18 posted on 03/10/2023 11:30:11 AM PST by lgjhn23 ("On the 8th day, Satan created the progressive liberal to destroy all the good that God created...")
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To: ConservativeInPA

Banks loosing their ass on woke ESG BS...no return on capital.


19 posted on 03/10/2023 11:51:24 AM PST by wardamneagle
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To: ConservativeInPA

Cramer knew this bank was failing but some money probably was slipped to him made him promote the bank.... He is always doing this. Do the opposite of what he says and I suspect you would make a fortune.

Inverse Cramer (Not Jim Cramer)
@CramerTracker

Jim Cramer said Silicon Valley Bank was a buy last month at $320

Today it is being closed by California regulators
https://twitter.com/CramerTracker/status/1634237672997699602


20 posted on 03/10/2023 11:55:38 AM PST by minnesota_bound (Need more money to buy everything now)
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