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blacklicorice they/them A toilet isn't a church, you don't get to claim sanctuary in the eyes of God  1yr ago (twitter.com) Edited 1yr ago 696 thread views #154300

:marseyhappening: as another bank is closed - update: :marseysal:

https://twitter.com/NickTimiraos/status/1635044036041121792

Signature is one of the main banks to the cryptocurrency industry

https://archive.ph/dszwp

:#marseyitsoverwereback:

https://i.rdrama.net/images/16786648570562136.webp

https://twitter.com/davidgura/status/1635042240543461377

49
New Old Top Bottom Controversial Random
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this is good for bitcoin

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You joke but...

https://i.rdrama.net/images/16786645528514824.webp

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Now zoom out :!marseysmug2#:

https://i.postimg.cc/dVgyQgj2/image.png https://i.postimg.cc/d3Whbf0T/image.png

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:#marseysteer::#marseyhappening::!#marseysteer:

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Go to bed wagecuck, you need to make it to your morning shift. My billion dollar deposit won't be made whole on it's own!

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The banks are going to have to pay for it, amusingly. It’s over for JPMorgancels.

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Explain how do you strengthen the banking system by making banks pay for it. It's clear the american taxpayer will, once again, be cucked by the banking chads.

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Leaving SVB and Signature depositors uninsured will spook >$250k depositors at smaller banks. This will cause bank runs at smaller banks, as depositors will flee for the safer SIBs (JPM, BofA, Wells Fargo, Morgan Stanley), resulting in a cascade of increasingly expensive failures. Paying to stabilize these banks will reassure depositors at smaller and midsized banks, averting expensive run -> failure -> insurance claims + bailout cycles. Ultimately, with how the FDIC is structured, mass failures would cost the more responsible banks a tremendous amount of money. No one bank wants to buy SVB or Signature (as they are garbage), but each bank can handle an assessment for a fraction of the shortfall. It is a classic example of a collective action problem: individually the problem is nasty, but spread across all insured banks, the total cost is modest, and paying that modest cost will avert higher costs in the future.

>It's clear the ameriKKKan taxpayer will, once again, be cucked by the banking chads.

It's possible some further crisis will result in looting the public treasury, but for now it's just going to nibble on bank profits. No taxpayer funds are going into SVB depositor pockets. We'll see how effective it is tomorrow morning.

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You missed this part:

Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors

Hmmm I wonder where all that money will come from...

The additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution's need to quickly sell those securities in times of stress.

These πŸ‘ assets πŸ‘ will πŸ‘ be πŸ‘ valued πŸ‘ at πŸ‘ par

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:#marseyretard2:

β€œAny losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks as required by law”

https://i.postimg.cc/dVgyQgj2/image.png https://i.postimg.cc/d3Whbf0T/image.png

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Yes, that liquidity loan program would have saved SVB, and would have averted the whole bailout dilemma in the first place, and in that case the loan would have been paid back.

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:marseyletsfuckinggo::marseyletsfuckinggo::marseyletsfuckinggo::marseyletsfuckinggo:

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:marseyjamming: buuurn baby burn :marseyjamming:

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No consequences. Just pile all your company's millions into this one sketch bank because Y Combinator is buddies, have a bank run because Peter Thiel told you to, you should have to take your frickin 5% haircut.

Just like the student loans. If you tell me the indebted students were done dirty and shouldn't have to pay, where's the punishment for the schools or the lenders that did them dirty?

At least I shortly stand to make $250 from the USDC panic sale

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Another s&p 500, top 20 banks in burgerland goes down in 2 days, no biggie :marseyglancing:

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Should be illegal. Whose gonna cover my losses for being correctly positioned before gov handouts?

Imagine being stupid enough to place money against a bailout for techbros and finbros in 2023 :grugthink:

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Buy the dip!! πŸ’°πŸš€πŸŒ•

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No buy ammo.

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crypto bank shuts down

Oh god, it's finally happening. I promised myself I would control my feelings, but I'm cooming

:#marseynut:

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If the fdic insurance limit doesn't apply let's just go ahead and nationalize the banks

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Jews hate cryptocurrency

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:#marseyexciteddance:

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Now they can borrow against their worthless securities at par value πŸ˜‚. How can that possibly go wrong?

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So they're saying they'll fully protect all depositors, with no cost to the tax payer.

Apparently the money is all going to be recovered by a "special assessment on banks".

I think this is going to translate to "money printer goes brrrrrr".

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FDIC has a piggy bank from charging banks insurance premiums. Idk the numbers, but it may be possible that the piggy bank wasn't exhausted and the premiums will just increase to fill the piggy bank again.

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Wow so "FDIC insured" isnt a euphemism??

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It's nationalized insurance agency backed by the US treasury.

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Oh wow nothing happened

The internet r-slurs were wrong again?

Who could've predicted this?

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It's the same teenager racism hate cult that MDE was all about. It's just another boring /pol/ offshoot for lonely edgelord losers.

Snapshots:

https://archive.ph/dszwp:

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