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Thread: Banks collapse
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04-30-2023, 06:14 PM #1
Banks collapse
FDIC insurance covers depositor losses up to $250,000.00, and I figure we all knew that. What some, like me were unaware of, is that the feds stepped in and covered the losses amassed by Silicon Valley Bank, well in excess of the guaranteed amount. Yes, you and I helped cover the cost of that bail out for bank customers that did not do the smart thing of placing their money in multiple banks if they exceeded the insurable account limit.
Isn't uncle Joe a great guy? Best guy in the world for giving away other peoples money without their permission.
I do not have a link. The info was shared by ABC news while they were reporting on the latest potential bank failure. First Republic Bank will be under water if the feds can't find an angel with deep pockets to bail them out by when the Aisan markets open tonight on the east coast.seeya
dan
I'm just one stomach flu away from my goal weight.
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05-01-2023, 10:40 AM #2
Re: Banks collapse
How many more 3am bank rescues are in our future.
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05-01-2023, 02:29 PM #3
Re: Banks collapse
I fear the answer to that question should be .... "way to damn many"
seeya
dan
I'm just one stomach flu away from my goal weight.
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05-03-2023, 12:23 PM #4
Re: Banks collapse
4 more western banks in danger of failure due to loss of confidence from depositors and investors.
LinkageLast edited by dan_bgblue; 05-03-2023 at 12:26 PM.
seeya
dan
I'm just one stomach flu away from my goal weight.
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05-03-2023, 07:27 PM #5
- Join Date
- Aug 2012
- Posts
- 4,825
Re: Banks collapse
Heard a stat yesterday but have not confirmed...
In 2009 about 150 banks failed at a cost of $350MM
So far 2 banks have failed at about $500MM ...
This is very tenuous...
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05-03-2023, 08:28 PM #6
Re: Banks collapse
Yeah and money “foreign and domestic” is leaving the banks everyday.
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05-03-2023, 09:08 PM #7
Re: Banks collapse
PacWest Bancorp Stock has fallen 55% in after hours trading as it increasingly appears to be the next bank failure.
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05-03-2023, 09:32 PM #8
Re: Banks collapse
PacWest, $PACW: -60%
2. Western Alliance, $WAL: -30%
3. Metropolitan Bank, $MCB: -20%
4. Valley National, $VLY: -15%
And, next month, the United States of America will approach default.
But Brandon has got the economy humming along.
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05-03-2023, 10:10 PM #9
Re: Banks collapse
In the back of my mind, letting these regional banks fail is a way usher in digital currency without much of a public fight…..
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05-04-2023, 06:55 AM #10
Re: Banks collapse
Last edited by dan_bgblue; 05-04-2023 at 06:58 AM.
seeya
dan
I'm just one stomach flu away from my goal weight.
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05-04-2023, 10:06 AM #11
- Join Date
- Aug 2012
- Location
- On the South Bank of the Cahaba River
- Posts
- 20,858
Re: Banks collapse
Today my bank raised the interest rate for preferred customers to 4.6%
Real Fan since 1958
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05-04-2023, 10:06 AM #12
- Join Date
- Aug 2012
- Location
- On the South Bank of the Cahaba River
- Posts
- 20,858
Re: Banks collapse
There’s a war out there. This is not going to end well
Real Fan since 1958
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05-04-2023, 11:26 AM #13
Re: Banks collapse
It sure won't as we have a Gomer Pyle leading our forces.
seeya
dan
I'm just one stomach flu away from my goal weight.
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05-04-2023, 12:20 PM #14
Re: Banks collapse
I don't agree with a lot of the mouthy crap Trump says, but he accused Biden of not going to the coronation b/c of his health. I have a feeling he's right, but his mental health not his physical health. They can't script everything with him there is probably their fear.
This ship is basically rudderless. The POTUS is really just a cabal of handlers behind the scenes making the decisions, which has been the truth of Biden his whole career.People keep asking if I'm back and I haven't really had an answer. But now, yeah, I'm thinkin' I'm back.
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05-05-2023, 10:58 AM #15
Re: Banks collapse
When PacWest Bancorp is forced into receivership...it will be the fifth largest bank failure in US history...and it will come less than a week after the failure of First Republic bank, the second largest bank to fail in US history."
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