SVB Contagion?

[Mik]

I've long thought that we spent up our cushion in 2008-9. I was amazed we could come up with the COVID excesses spending.

[Jolly]

@Mik said in SVB Contagion?:

I've long thought that we spent up our cushion in 2008-9. I was amazed we could come up with the COVID excesses spending.

We have printing presses and special paper.

[George K]

[jon-nyc]

I think there’s a good chance the Swiss government would prevent that.

[Jolly]

Well, they better get cracking...

[Axtremus]

What's with Credit Suisse? It seems to get into trouble more frequently than other international investment mega banks. :man-shrugging:

[Doctor Phibes]

I'm not making any decisions until I hear what Jim Cramer has to slur about it.

[Horace]

@Doctor-Phibes said in SVB Contagion?:

I'm not making any decisions until I hear what Jim Cramer has to slur about it.

He sounds like he had a stroke.

[Doctor Phibes]

@Horace said in SVB Contagion?:

@Doctor-Phibes said in SVB Contagion?:

I'm not making any decisions until I hear what Jim Cramer has to slur about it.

He sounds like he had a stroke.

It's hard to believe that somebody as serene as that guy could possibly have high blood pressure.

[jon-nyc]

@Axtremus said in SVB Contagion?:

What's with Credit Suisse? It seems to get into trouble more frequently than other international investment mega banks. :man-shrugging:

It was one of the few major banks in the world that needed and received no government money during the financial crisis.

But that was when I was there.

[Doctor Phibes]

@Axtremus said in SVB Contagion?:

What's with Credit Suisse? It seems to get into trouble more frequently than other international investment mega banks. :man-shrugging:

Their security is full of holes?

[jon-nyc]

[jon-nyc]

@jon-nyc said in SVB Contagion?:

I think there’s a good chance the Swiss government would prevent that.

[Jolly]

Biden did it.

https://thefederalist.com/2023/03/14/dont-blame-depositors-for-bank-failure-blame-biden-and-svb-management/

[Axtremus]

https://www.fdic.gov/news/press-releases/2023/pr23021.html

"Subsidiary of New York Community Bancorp, Inc., to Assume Deposits of Signature Bridge Bank, N.A., From the FDIC"

[LuFins Dad]

[jon-nyc]

@LuFins-Dad

Cute and all but:

1. Banks like that $3 overdraft, they get to charge her $20 for it.

2. SVB didn’t get money. The executives all lose their jobs and the shareholders are zeroed out. The depositors got made whole.

[Axtremus]

@jon-nyc said in SVB Contagion?:

2. SVB didn’t get money. The executives all lose their jobs and the shareholders are zeroed out. ...

Pending investigation, perhaps there should be claw-backs of their recent performance-based bonuses and stock awards too. They should not get to keep short-term gains from poor risk management practices.

[Mik]

There's no need to pay bank or credit card fees if you have a phone. Call them and take a position and they'll drop them.