Posted on 03/12/2023 6:53:19 AM PDT by marcusmaximus
Billionaire hedge fund manager Bill Ackman is forecasting 'economic meltdown' within hours of the banks opening up on Monday morning following the failure of Silicon Valley Bank.
Ackman is urging for the U.S. government to finally step in and protect all of the bank's depositors, warning inaction could lead to a ripple effect across other smaller banks within the industry.
The worry is that customers will rush to withdraw cash from their accounts fearing instability across the banking system with the very real possibility of a domino effect.
(Excerpt) Read more at dailymail.co.uk ...
Silicon Valley Bank run by morons for idiots
Yellen hinting at a deposit guarantee this morning.
Deposit Guarantee = Bailout.
I wonder if this is some sort of setup for the budget hearings and debt ceiling increase. Seems the government is telegraphing their actions without any concern for the citizenry of this country, or fallout from their failed policies.
Why doesn’t Bill Ackman buy them out?
I call his bluff. The economy would push the bad money through eventually and the economy would recover.
You took a bad gamble, Bill. So eat your losses like a man.
Once again, the banksters are holding the American Taxpayer hostage.
Sounds like a billionaire begging the taxpayers to bail him out...again.
Deposit Guarantee = Bailout.
so they can do it over and over again
Yellen: “A deposit guarantee is not a bailout.”
Real World: “A deposit guarantee is a bailout.”
No bail out.
“Why doesn’t Bill Ackman buy them out?”
The correct response.
Whoever this Ackman is and all of his oligarch SV buddies should take over the Bank and fix it.
Nice to know your “high risk/high reward” investments aren’t so high risk.
Maybe 5he government should bailout all of our retirement accounts that we thought were low risk but have lost 30% to 50% under FJB . . .
Word will start to leak tonight.
Watch the private jets…
It would be fun to watch the tight asses from the east coast walk into SVB. The looks on the faces will be golden.
Interesting that the wealthy leftist hysteria starts immediately when their money in the tens of billions is at stake yet the working class folks in Palestine, Ohio who keep this country going had to get their bottled water from Donald Trump. I understand that both Harry/Meghan and Oprah have tens of millions in this bank; if we don’t bail them out they will cry racism; if we do bail them out, they will still cry racism.
Per wiki, Ackman endorsed Michael Bloomberg as a prospective candidate for President of the United States in the 2016 presidential election. He is a longtime donor to Democratic candidates and organizations, including Richard Blumenthal, Chuck Schumer, Robert Menendez, the Democratic National Committee, and the Democratic Senatorial Campaign Committee.
See? Just get the Secretary of the Treasury department on the phone and say "hey, you know those nice crisp $100 bills, the ones like we sent to Iran a few years ago? Keep the printers going over the weekend and print up a couple of extra pallet loads of them and get 'em ready to go to California via USAF C-17 in the wee hours Monday morning. Thanks in advance."
Piece o' cake.
According to Yellen, all that is necessary to fix things is more abortions and more money for Ukraine.
It’s only been about 15 years since we played this little game. Obama didn’t fix anything, just kicked the can. And Bobs your uncle.
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