SVB Contagion?
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@Axtremus said in SVB Contagion?:
What's with Credit Suisse? It seems to get into trouble more frequently than other international investment mega banks.
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.
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@Axtremus said in SVB Contagion?:
What's with Credit Suisse? It seems to get into trouble more frequently than other international investment mega banks.
Their security is full of holes?
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@jon-nyc said in SVB Contagion?:
I think there’s a good chance the Swiss government would prevent that.
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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"
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Cute and all but:
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Banks like that $3 overdraft, they get to charge her $20 for it.
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SVB didn’t get money. The executives all lose their jobs and the shareholders are zeroed out. The depositors got made whole.
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@jon-nyc said in SVB Contagion?:
- 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.