SVB Contagion?

[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.