#SiliconValleyBank
Following #AI, #crypto, the fall of #SiliconValleyBank, and other #tech industry trends?
Avinton’s CEO Sachiko Nakase shares strategies to open new #IT doors in your career - even without prior #IT experience.
Start your #Webdevelopment journey: https://lpi.org/2a2h
#SVB #artificialintelligence #neuralnets #coding #bitcoin #programming #webdev #LPI #WDE #javascript #HTML #CSS #siliconvalley
Bidding War: Scaramucci's SkyBridge Capital Competes for Silicon Valley Bank's VC Unit - Anthony Scaramucci's SkyBridge Capital and Atlas Merchant Capital are competing for SVB C... - https://cryptonews.com/news/bidding-war-scaramuccis-skybridge-capital-competes-for-silicon-valley-banks-vc-unit.htm #anthonyscaramucci #siliconvalleybank #altcoinnews #skybridge
Tether adds Bahamas-based private bank Britannia as partner: Report - Tether’s reported new partnership with Britannia Bank makes it th... - https://cointelegraph.com/news/tether-adds-bahamas-based-bank-britannia-as-new-partner #deltecbankcapitalunionbank #britanniabank&trust #siliconvalleybank #stablecoinissuer #bankingparnters #silvergatebank #signaturebank #bloomberg
S&P Downgrades 5 Regional US Banks Amid Challenging Banking Environment - On Monday, S&P Global Ratings slashed ratings for five U.S. regional banks, po... - https://news.bitcoin.com/sp-downgrades-5-regional-us-banks-amid-challenging-banking-environment/ #quantitativetightening #valleynationalbancorp #commercialrealestate #associatedbanccorp. #operatingconditions #depositwithdrawals #siliconvalleybank #umbfinancialcorp. #negativeoutlook #fundingstrains #interestrates #comericainc.
@maxi
And whilst Wirecard folding as the grift it has been from the start may be inconvenient for merchants using them, this didn't result in the same #shitshow that #SiliconValleyBank caused:
People still got their paychecks and businesses could still pay suppliers and get paid.
They might've to switch to competitors like Adyen but in the end, that isn't a hard move...
Integrating #Wirecard messy code was always a clunky shitshow compared to #PayPal which has a clean API...
When bankrupt of #SiliconValleyBank happened,other banks collapsed and crisis of the medium and regional banks in the US arose, I warned to you not to invest your money in public debt.
There is too much.
15 hours ago,ratings agency #Fitch has placed the rating of US treasuries from AAA to AA+
In an unexpected movement the shares are starting to fall while #Gold has risen 0.4% so far.
Bundesbankpräsident Nagel hat vor den Gefahren eines Banken-Ansturms durch #FakeNews gewarnt
Der Fall der #SiliconValleyBank habe gezeigt, dass man schneller werden müsse. Dort hätten Äußerungen in den sozialen Medien dazu beigetragen, einen #BankRun zu beschleunigen. Die Frage sei, ob Fake News auch so etwas auslösen könnten.
Er habe von einem Kollegen aus Südkorea gehört, dass dort eine Task Force der #Bankenaufsicht systematisch die sozialen Medien überwache
🤔
https://www.fr.de/wirtschaft/bundesbankpraesident-sieht-risiko-eines-bank-runs-zr-92409959.html
Circle CEO Jeremy Allaire: ‘Other Governments Are Regulating Digital Dollars Before the US’ - Jeremy Allaire, CEO of Circle, the company behind the issuance of usd coin (USDC),... - https://news.bitcoin.com/circle-ceo-jeremy-allaire-other-governments-are-regulating-digital-dollars-before-the-us/ #siliconvalleybank #cryptocurrency #jeremyallaire #u.s.congress #stablecoins #regulation #circle #kaiko #news
HSBC mira papel de liderança em venture capital e startups após onda de contratações
#VentureCapital #Startups #SiliconValleyBank #OndaDeContratações #Hsbc #FederalReserve #ForbesMoney
As Traditional Banks Step Back, New Players Fill Gap in Crypto Banking - With traditional banks becoming more cautious about servicing the cryptocurrency industry... - https://cryptonews.com/news/as-traditional-banks-step-back-new-players-fill-gap-crypto-banking.htm #siliconvalleybank #signaturebank #altcoinnews #silvergate #banks
Behind every good story there is always #insurance to leverage.
Current/former directors and officers of Silicon Valley Bank will have access to $210 million worth of insurance to cover their legal expenses and potential judgments. Depleting limits policies means that any amounts spent on legal fees decrease the policy limits overall. #SVB #SiliconValley #SiliconValleyBank #Law #LawFedi #Litigation
https://www.insurancejournal.com/news/national/2023/05/25/722210.htm
If you haven't seen inside the financials of #SiliconValleyBank and are curious, here is your opportunity. Econ-Intel is now offering bank safety reports for all FDIC insured banks, so that people can find out how safe their money may be at their banks. We are providing the one for #SVB for FREE immediate download:
https://econ-intel.com/product/free-silicon-valley-bank-safety-report-q4-2022/
Stablecoins are a critical countermeasure to Operation Chokepoint - Stablecoins could help crypto firms to remove themselves from the... - https://cointelegraph.com/news/stablecoins-countermeasure-operation-chokepoint #siliconvalleybank #silvergatebank #signaturebank #stablecoins #banking
Silvergate Bank Faces Regulatory Deadline for Self-Liquidation Plan - In a recent press release from the U.S. Federal Reserve Board of Governors, it was... - https://news.bitcoin.com/silvergate-bank-faces-regulatory-deadline-for-self-liquidation-plan/ #regulatorydevelopments #silvergatebankcollapse #liquidationstrategy #financialtroubles #firstrepublicbank #siliconvalleybank #bankingcollapses #self-liquidation #federalreserve #silvergatebank #bankingsector #signaturebank #collapse #news
With the recent bank failures, it's only natural to be concerned about your bank. Now there are tools to help you evaluate the level of risk that your bank exposes you to.
You can find them here:
https://econ-intel.com/product-category/is-my-bank-safe-q4-2022/
There is a FREE report immediately available for #SiliconValleyBank #SVB
Very interested to hear from the mastodon community your thoughts about this project.
Nouvelle #crisebancaire - Épisode 1 - Retour sur la crise des #Subprimes (CADTM)
https://www.cadtm.org/Nouvelle-crise-bancaire-internationale-Episode-1-Retour-sur-la-crise-des
Nouvelle crise bancaire - Épisode 2 - Pourquoi la #SiliconValleyBank a-t-elle fait faillite ?
“The Bank was Solvent”: Crypto-Friendly Signature Bank Unjustly Shutdown? - Crypto scapegoating continues in the wake of the March banking collapse.
Continue ... - https://dailycoin.com/crypto-friendly-signature-bank-unjustly-shutdown/ #siliconvalleybank #signaturebank #regulations #zz_popular #zz_index #zz_top
Bank Execs Face Senate Ire for Blaming Bank Collapse on Crypto While Amassing Millions - US Senators have slammed executives of failed banks for trying to deflect blame away from... - https://cryptonews.com/news/bank-execs-face-senate-ire-for-blaming-bank-collapse-crypto-while-amassing-millions.htm #siliconvalleybank #senatebanking #cynthialummis #altcoinnews #regulation
Senators slam bank execs for blaming collapses on crypto, pocketing millions - Senator Lummis noted that Signature Bank’s Scott Shay mentioned d... - https://cointelegraph.com/news/signature-bank-blame-crypto-collapse-lummis-warren #senatebankingcommittee #siliconvalleybank #elizabethwarren #cynthialummis #testimony #senator #hearing
US Sen. Cynthia Lummis Criticizes Signature Bank Executive for Blaming Crypto for Its Downfall - Sen. Cynthia Lummis said she found it disappointing that a former crypto-friendly Signatu... - https://cryptonews.com/news/us-sen-cynthia-lummis-criticizes-signature-bank-executive-for-blaming-crypto-for-its-downfall.htm #siliconvalleybank #blockchainnews #senatebanking #cynthialummis #signaturebank #congress
Former Signature Bank Chairman Said the Bank Cut Back on Digital Asset Deposits in Wake of Volatility - Crypto-friendly Signature Bank “significantly’ cut back on digital asset deposits in the ... - https://cryptonews.com/news/former-signature-bank-chairman-said-bank-cut-back-digital-asset-deposits-wake-of-volatility.htm #siliconvalleybank #blockchainnews #silvergatebank #signaturebank #regulation
More recently, KPMG made millions by confidently certifying the stability of a large regional bank, assuring investors and depositors that it was managing its risk and could be trusted. The name of the client that KPMG was so bullish on will be familiar to you: #SiliconValleyBank:
https://www.wsj.com/articles/kpmg-faces-scrutiny-for-audits-of-svb-and-signature-bank-42dc49dd
KPMG epitomizes the idea of Too Big To Fail and Too Big to Jail.
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Louisiana Senator Compares Modern Banks to ‘Sophisticated Ponzi Schemes’ - Louisiana Republican senator John Kennedy recently stated in an interview publishe... - https://news.bitcoin.com/louisiana-senator-compares-modern-banks-to-sophisticated-ponzi-schemes/ #sophisticatedponzischemes #firstrepublicbank #siliconvalleybank #moderntechnology #pyramidschemes #signaturebank #johnkennedy #republican #economics #louisiana #joebiden #senator #usbanks #banks #biden #ponzi #trust
SEC Probes First Republic Bank Executives for Insider Trading; Lawmakers Dump Bank’s Shares Before Collapse - After the second largest bank failure in history, the U.S. Securities and Exchange... - https://news.bitcoin.com/sec-probes-first-republic-bank-executives-for-insider-trading-lawmakers-dump-banks-shares-before-collapse/ #californiadepartmentoffinancialprotectionandinnovation #firstrepublicbank #siliconvalleybank #bankingindustry #insidertrading #jpmorganchase #u.s.congress #news
#Goldman Says U.S. Is Investigating Its Work for #SiliconValleyBank
https://www.nytimes.com/2023/05/04/business/goldman-svb-investigation.html
[Commentary] As long as there are banks, there will always have bank failures, which is why regulators are needed to draw the right lessons from the SVB debacle. https://www.japantimes.co.jp/opinion/2023/05/04/commentary/world-commentary/safeguarding-banks/?utm_content=buffer1eaf5&utm_medium=social&utm_source=mastodon&utm_campaign=bffmstdn #opinion #commentary #fed #useconomy #banks #globaleconomy #lending #siliconvalleybank
In 2023, the U.S. banking sector has been under a lot of stress. The failure of several big banks brought trouble all over the world. In particular, the loss of the Silicon Valley Bank (SVB) also caused problems for other banks. Now, months after the SVB crash, the U.S. government is looking into Goldman Sachs Group. In March 2023, Silicon Valley Bank lost money when it sold a $24 billion stock to Goldman Sachs. After this, the… https://coinxposure.com/goldman-sachs-group-under-investigation-for-failed-svb-deal.html?utm_source=dlvr.it&utm_medium=mastodon #Business #GoldmanSachs #Siliconvalleybank
US regional bank shares sink despite Fed calling banking system 'sound' - PacWest Bancorp was the hardest hit bank after-hours on Wednesday... - https://cointelegraph.com/news/us-regional-bank-shares-sink-despite-fed-calling-banking-system-sound #westernalliancebancorp #siliconvalleybank #metropolitanbank #pacwestbancorp #signaturebank #cryptotwitter #jeromepowell #homestreet
Data Shows More US Bank Failures Ahead, Who Will SEC Blame Now? - The year 2023 started with U.S. banking regulators the OCC, the Federal Reserve Bo... - https://coingape.com/data-shows-more-us-bank-failures-ahead-who-will-sec-blame-now/ #securitiesandexchangecommission #24/7cryptocurrencynews #firstrepublicbank #siliconvalleybank #silvergatebank #bankingcrisis #signaturebank #bitcoinprice #bitcoin
Oh dear... the FT points out this morning that one thing clearly links the three US banks that recently failed:
#SiliconValleyBank, #Signature & #FirstRepublic were all audited by #KPMG... the suspicion is growing that actually they didn't understand the #banking sector as well as they claimed (KPMG, that is).
It won't be he first time one of the #BigFour have oversold their expertise, now will it!
[Commentary] The solution to regional banks' problems such as the JPMorgan-First Republic deal raises more questions and concerns about the U.S. financial system. https://www.japantimes.co.jp/opinion/2023/05/02/commentary/world-commentary/jpmorgan-first-republic-deal/?utm_content=buffer5a81a&utm_medium=social&utm_source=mastodon&utm_campaign=bffmstdn #opinion #commentary #banks #monetarypolicy #lending #jpmorgan #siliconvalleybank #firstrepublic
First-Republic-Bankenpleite - Vertrauenskrise im US-Finanzsektor
Mit der First Republic geht die dritte US-Bank in zwei Monaten pleite - womöglich nicht die letzte, sagt Wirtschaftsredakteurin Eva Bahner.
Mehrere Banken pleite - Vertrauenskrise im US-Finanzsektor
JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators - On May 1, 2023, the California Department of Financial Protection and Innovation (... - https://news.bitcoin.com/jpmorgan-chase-assumes-control-of-first-republic-bank-following-seizure-by-california-regulators/ #u.s.financialsystem #financialtroubles #firstrepublicbank #siliconvalleybank #depositinsurance #bankingindustry #silvergatebank #jpmorganchase #signaturebank #bankfailure #california
#FirstRepublicBank is taken over by #FDIC and sold to #JPMorgan in third major bank failure of 2023
It's the largest lender to collapse since the 2008 financial crisis — even larger than #SiliconValleyBank, which went under in March.
#UnitedStates #Banking
https://www.nbcnews.com/business/business-news/first-republic-bank-fdic-takeover-sold-jp-morgan-rcna81437
The next part:
#FirstRepublicBank shares fell 25% Friday. Its rescuers are also struggling, with JPMorgan Chase (JPM) down 3% and Bank of America (BAC) falling 4%.
About 2/3 of First Republic’s deposits were uninsured. That’s far less than the 94% uninsured that #SiliconValleyBank had, but First Republic also had an unusually large 111% loan-to-deposit ratio at the end of last year, according to S&P Global — meaning it has loaned out more money than it has in deposits.
https://edition.cnn.com/2023/03/17/business/first-republic-bank-rescue/index.html
The Federal Reserve has blamed the deregulatory zeal that occurred during the Trump era for contributing to the second-largest bank failure in U.S. history. https://www.japantimes.co.jp/news/2023/04/29/business/svd-federal-reserve-trump-deregulation/?utm_content=buffera9df0&utm_medium=social&utm_source=bufferapp.com&utm_campaign=buffer #news #business #us #fed #banks #donaldtrump #siliconvalleybank
Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures - On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserv... - https://news.bitcoin.com/reports-by-fed-and-fdic-reveal-vulnerabilities-behind-2-major-us-bank-failures/ #liquidityriskmanagement #risinginterestrates #supervisoryapproach #usbankingregulators #siliconvalleybank #uninsureddeposits #technologysector #cryptoindustry #federalreserve #signaturebank #bankfailures #news #fdic
#Review of the #FederalReserve’s
#Supervision and #Regulation
of #SiliconValleyBank April 2023. This report examines the factors that contributed to the failure of #SVB. The report
focuses on the role of the Federal Reserve, which was the #primary federal supervisor for the bank
and the #bankholdingcompany. https://www.federalreserve.gov/publications/files/svb-review-20230428.pdf FinancialSystem #FinancialStability #banking #banksupervision #regulatoryfailures
#Fed says it must strengthen #banking rules after #SVB’s collapse
In a scathing report, the #FederalReserve on Fri outlined a series of disastrous decisions that led to the downfall of #SiliconValleyBank — including failures by the #CentralBank’s own supervisors to ward off last month’s crisis.
#Economy
https://www.washingtonpost.com/business/2023/04/28/silicon-valley-bank-collapse-investigation/
NFT markets are out of balance with sellers dominating - In April there hasn’t been a single day where total sellers on th... - https://cointelegraph.com/news/nft-markets-are-out-of-balance-with-sellers-dominating #siliconvalleybank #canarylabs #oviefaruq #nftgo #svb
No confidence in the Fed https://sbilanciamoci.info/no-confidence-in-the-fed/ #SiliconValleyBank #Economiaefinanza #Nellarete #banche #Fed
🇺🇸#SUA. Acțiunile 🏦#FirstRepublic Bank s-au prăbușit în ședința de ieri cu 49%, după o retragere masivă de depozite. Temeri că ar putea avea un scenariu asemănător cu cel al colapsului 🏦#SignatureBank și 🏦#SiliconValleyBank.
#Twitter fueled #run on #SiliconValleyBank, new #paper finds.
Which came first, the #tweets or the #bankrun? A new #paper finds #evidence that #tweets — particularly from those in the #startup #community exacerbated the run on Silicon Valley Bank last month.
— SVB should consider taking legal action against Musk for their losses, seeking damages of up to $42 billion, in addition to punitive damages. There are big drawbacks to being privately owned.
US Treasury seeks to tighten nonbank rules following banking crisis - Janet Yellen called for further regulation of nonbank institution... - https://cointelegraph.com/news/us-treasury-seeks-to-tighten-nonbank-rules-following-banking-crisis #siliconvalleybank #bankingcollapses #bankingcrisis #janetyellen #ustreasury #usbanks #fed #svb
Die New York Times behauptet, die Bailouts für die #SiliconValleyBank durch die US-Regierung seien unbedingt notwendig gewesen. Brian Becker, Gastgeber des marxistischen Podcasts The Socialist Program, hat daran seine Zweifel. @TheSocProgram
Just-In: SEC Chief Gary Gensler Blames Crypto For Silicon Valley Bank Collapse - The chair of the Securities and Exchange Commission, Gary Gensler, was questioned ... - https://coingape.com/sec-gary-gensler-blames-crypto-silicon-valley-bank-collapse/ #securitiesandexchangecommission #24/7cryptocurrencynews #siliconvalleybank #unitedstates
Tether market cap eyes record high after regaining 65% stablecoin dominance - The market capitalization of Tether is nearly a billion dollar aw... - https://cointelegraph.com/news/tether-market-cap-eyes-record-high-after-regaining-65-stablecoin-dominance #siliconvalleybank #bankingcrisis #stablecoin #binanceusd #usdcoin #tether #usdt #usdc #sec
In this segment, Cypher discusses the collapse of #siliconvalleybank, the wider implications for #banking, what role #crypto played, and what could be done in the future to prevent another panic.
Check out the live news roundup every Thursday @ 8PM EST.
In this segment, Cypher discusses the collapse of #siliconvalleybank, the wider implications for #banking, what role #crypto played, and what could be done in the future to prevent another panic.
Check out the live news roundup every Thursday @ 8PM EST.
The collapse of #SiliconValleyBank left low-income communities without billions in promised lending, despite the federal bailout that benefited the bank's wealthy depositors and new owner.
We need #PublicBanksNow
#BankingCrisis #PublicBanks
#PublicBank #PublicBanking #SVB #SignatureBank
https://www.levernews.com/regulators-stiffed-low-income-communities-in-silicon-valley-bank-bailout/
For the apologists, the #SVB #bailout was merely prudent: a bunch of innocent bystanders stood in harm's way - from the rank-and-file employees at startups to the scholarship kids at elite private schools that trusted their endowment to #SiliconValleyBank - and so the government made an exception, improvising measures that made everyone whole without costing the public a dime. What's not to like?
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In this segment, Cypher discusses the collapse of #siliconvalleybank, the wider implications for #banking, what role #crypto played, and what could be done in the future to prevent another panic.
Check out the live news roundup every Thursday @ 8PM EST.
In this segment, Cypher discusses the collapse of #siliconvalleybank, the wider implications for #banking, what role #crypto played, and what could be done in the future to prevent another panic.
Check out the live news roundup every Thursday @ 8PM EST.
Twin threats of rising rates and deglobalisation leave IMF spooked
https://www.theguardian.com/business/2023/apr/11/imf-inflation-financial-stability-world-economic-outlook #InternationalMonetaryFund(IMF) #SiliconValleyBank #Financialsector #Globaleconomy #Europeanbanks #CreditSuisse #Economics #Worldnews #Business #Banking #UKnews #Europe
For years the Valley has had an elevated status, forgiven for burning billions of dollars on speculative moonshot ideas because they were, theoretically, striving to improve society. We’ve spent decades lionizing startup founders for “taking the risk” to make something that would theoretically be worth billions, and applauded those who “made it” based on a vague sense that building something and selling it is somehow nobler or more worthy of praise than any other pursuit...Except the last decade of tech has been filled with broken promises: the average person was not enriched by cryptocurrency, virtual reality remains and broken, and autonomous cars have mostly resulted in a dangerous open-air beta test on the world’s roads...It’s about the fact that to the outside world, tech expects respect and status as its tangible contribution to society becomes more and more opaque. And when the bank that banked 50% or more of America’s startups collapsed, forcing the FDIC to rescue depositors, I would argue the loudest voices in tech didn’t act with gratitude or appreciation of how lucky they were, but with truculence and annoyance at those who would critique them.
#BillionairesShouldNotExist #SiliconValley #SiliconValleyBank #TechCulture #TechBro #FAANG
The Uncanny Valley
Top executives' bonuses at #SiliconValleyBank went up considerably in the last couple of years before it crashed & burned, due to them choosing to invest in much riskier assets (to boost immediate 'performance' of the bank);
a classic example of privatising the gains (in the short term), while socialising the loses in the long(er) term;
so not so much unforeseen circumstances that bought SVB to its knees rather a focus on bosting a measure of performance that triggered bonuses
h/t FT
There are no #libertarians in a bank run. No sooner had venture capitalists whipped each other into a terrified Twitter frenzy at the imminent collapse of #SiliconValleyBank - a collapse caused by that selfsame frenzy - than the #AynRand-poisoned elite of #SandHillRoad started begging for Uncle Sucker to open the sluicegates:
https://twitter.com/EricNewcomer/status/1634300928621793283
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The Silicon Valley Bank collapse is part of a broader weakness in the tech industry, and shows us why venture capitalists aren’t the brilliant minds they want us to believe.
This week on #TechWontSaveUs, I chat with Jacob Silverman about what SVB reveals about the state of the industry and why the end of low interest rates could be a serious challenge.
Hey look at this
* The venture capitalist's dilemma https://newsletter.mollywhite.net/p/the-venture-capitalists-dilemma
* The Incredible Tantrum Venture Capitalists Threw Over #SiliconValleyBank https://slate.com/technology/2023/03/silicon-valley-bank-rescue-venture-capital-calacanis-sacks-ackman-tantrum.html
* The hierarchy of excuses https://crookedtimber.org/2023/03/20/the-hierarchy-of-excuses/
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These mass layoff speak volumes about the ethos of Silicon Valley. The same investors who rent their garments demanding a bailout for #SiliconValleyBank to "help the everyday workers" are also the loudest voices for mass layoffs and transfers to shareholders.
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Given how many #banks are seen as 'too big to fail' in the eyes of regulators/states & the swiftness of state action (again) last week as ripples of negative sentiment after the #SiliconValleyBank caused further need for intervention, Martin Wolf (FT) concludes that:
'Banking stands revealed as a part of the state masquerading as part of the private sector'.
We need to put an end to the privatisation of profit(s) & the nationalisation of loss(es), and properly constrain #banking's excesses.
What if we had public banks that prioritized the greater good, rather than private banks prone to taking profit-chasing risks?
https://www.vice.com/en/article/3akzbb/private-banks-are-in-crisis-what-if-they-were-public-banks
#Technews #publicbank #SiliconValleyBank #signaturebank
A food crisis plaguing the planet; countries raising red flags about their growing debt crisis; farm households everywhere warning us of rising costs and losses due to climate uncertainties. All of this has been met with indifference and inaction. But when a #SiliconValleyBank or a #CreditSuisse collapses, billionaires sweat and scream, and rich governments respond within a week (with public money). The fat-cat bonus-guzzling bankers breathe a sigh of relief.
#ElizabethWarren tweets:
It's no wonder the American people are skeptical of a system that holds millions of struggling student loan borrowers in limbo but steps in overnight to ensure that billion-dollar crypto firms won't lose a dime in deposits.
#StudentLoanDebt #SiliconValleyBank
https://twitter.com/ewarren/status/1636488503197413377
🚨Ω🚨
#TheCryptocalpyseChronicles: How Everyone Is Getting The Story Of Silicon Valley and Signature Bank Completely Wrong
(And other incomprehensible things, like #Coinbase's banking partnerships)
Ω👇Ω
https://cryptadamus.substack.com/p/how-everyone-got-the-story-of-silicon
#SVB #SIVB #SiliconValleyBank #SignatureBank #SBNY #SI #SilvergateBank #Coinbase #COIN #cryptocurrency #crypto #SigNET #Bank #banking #banks
SVB's UK arm issues 15M pounds in bonuses after symbolic bailout: Report - Insider sources reportedly described the bonus pool as “modest,” ... - https://cointelegraph.com/news/svb-s-uk-arm-issues-15m-pounds-in-bonuses-after-symbolic-bailout-report #chiefrestructingofficer #siliconvalleybank #williamkosturos #svbsecurities. #bankofengland #erinplatts #svbcapital #chapter11
THREAD 1/4
Blaming #BankFailures on diversity, equity, and inclusion (#DEI) programs is a pathetic distraction. It is wrong on so many levels.
#deregulation #SiliconValleyBank #SignatureBank #equality #CultureWar #CultureWars #conservatives #ConservativeMedia #RightWingMedia #politics #diversityequityinclusion #diversity #equity #inclusion #Republicans #banks
We were told that the #SiliconValleyBank #bailout wasn't a bailout: in a bailout, it's the *investors* who get public money; but with #SVB, it was the depositors. But, of course, the owners of SVB were also depositors in their own bank. All in all, SVB's owners are entitled to $2B in public money.
--
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
https://pluralistic.net/2023/03/18/2-billion-here-2-billion-there/#socialism-for-the-rich
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In den USA geraten ein paar mittelgroße #Banken in Schieflage, weswegen der Staat sie rettet. Was der Fall über den aktuellen Zustand des Weltfinanzsystems verrät, wer von der Rettung profitiert und wer dafür zahlen muss. #SiliconValleyBank #Bankenkrise
https://www.nd-aktuell.de/artikel/1171780.bankenpleite-die-spekulation-ist-systemrelevant.html
👀 Top executives at #SiliconValleyBank sold stock totaling several million dollars less than two weeks before the company became the largest bank failure since the 2008 financial crisis
US regulators are willing to entertain the prospect of the government backstopping losses at #SiliconValleyBank and #SignatureBank if it helps push through a sale of the failed lenders
@juddlegum
@Renegade_GDI
Fun! Another big DeSantis supporer just got bailed out at #SiliconValleyBank
https://www.sfgate.com/bay-area-politics/article/Ron-DeSantis-2024-San-Francisco-David-Sacks-donate-16528002.php
AP: SVB Financial Group, parent of #SiliconValleyBank seized by the US, files for bankruptcy protection.
Regulatory Failure 101: What the Collapse of #SiliconValleyBank Reveals
-
It’s all too familiar: First comes the boom, then the breathtakingly speedy bust, and then the bailout. Now we’re in the moment where everyone wonders where the financial regulators were.
"Primary responsibility for the debacle lies, of course, with #SVB management. But regulators are supposed to grasp that they exist because bankers are always tempted to take risks."
“Together, we are deploying our financial strength and liquidity into the larger system, where it is needed the most."
https://www.vice.com/en/article/epv44m/faith-in-humanity-restored-community-bands-together-to-provide-dollar30-billion-in-mutual-aid-to-down-on-its-luck-small-business-first-republic-bank
#signaturebank #FirstRepublicBank #banks #Money #SiliconValleyBank
For decades, SVB was willing to bend over backwards for venture capitalists, serving them in a way that fit their “special needs,” one said. “In return, of course, VCs would recommend Silicon Valley Bank to their startups.”
https://www.vice.com/en/article/pkayyg/how-silicon-valley-bank-made-a-business-out-of-making-vcs-happy
#SiliconValleyBank #SVB #VC #Venturecapitalists #SiliconValley
It comes as no surprise that #SiliconValleyBank paid out bonuses to its execs and employees hours before it collapsed:
Everybody knows.
It's comforting to think that the tax code loopholes that the ultrawealthy exploit are an epiphenomenon of complexity, an unavoidable consequence of the technical requirements of a big regulation that spans 300m+ people.
28/
@KimPerales Warning!!! Video of fake #Biden comments on #banking system #collapse is being spread on social media. https://apnews.com/article/fact-check-biden-audio-banking-fake-746021122607 #Regulation #Economy #SVB #SVBFailure #SiliconValleyBank #FDIC #SEC #DeepFake #BankingSystem Replying to add hash tags and spread the word better.
if you, like me, have been living in intentional ignorance of what happened over at #SiliconValleyBank, this #podcast episode offers a pretty good summary: https://pca.st/kk4jw91v
TL; DR: It was a bank run, but none of national or global significance.
After #SiliconValleyBank, now #CreditSuisse finds itself in difficult waters, Barclay's advisors warned yesterday of a 'vibes-based sell-off' spreading from US regional #banks.
For some banking #investors it seems the failure of SVB & now CS's funding needs suggest all is not well in global #financialservcies.
As posted a few days ago, this still leaves the Q. whether SVB was a little local difficulty or a canary in the mine... with the mine position gaining a little as the week goes on
#ElizabethWarren tweets:
Make no mistake: if these execs walk away with millions of dollars for running their banks into the ground and gambling with the survival of small businesses and nonprofits, it’ll be a big neon sign encouraging other bank CEOs to run the same risks.
#SiliconValleyBank #Banking #Consequences
https://twitter.com/ewarren/status/1635746023967543297
Are you still curious about the fallout from #SiliconValleyBank? Here's a great collection of explainers from Flipboard's Features Desk #business #svb #banking
https://flipboard.com/@news/are-we-on-the-verge-of-a-banking-crisis-jh13rk2pnciemb79
Which brings me to the apologists for #SiliconValleyBank, who are busily churning out incredibly revealing bad takes about why bailing out #SVB was the right thing to do, and why you're wrong to call it a bailout, and why all of this is Very Regrettable but nevertheless The Right Thing To Do.
3/
Danger of collapse.
The banking crisis has given us a fascinating peek into the psychology and priorities of tech insiders while under pressure.
https://www.vice.com/en/article/3ak8gy/svb-collapse-tech-ceo-bail-out-u
#Technews #SiliconValleyBank #signaturebank #Ukraine
Moody's review looms
Banks face potential downgrade
Silicon Valley falls
#moodys #banks #siliconvalleybank #collapse #haiku #poetry
http://www.cnn.com/business/live-news/silicon-valley-bank-collapse-updates-03-14-23/index.html
Your periodic reminder that capitalism privatizes profits and socializes risks. #NorfolkSouthern #SVB #SiliconValleyBank
As shares for Credit Suisse continue to slide, some are beginning to suspect that it may go the same way as Silicon Valley Bank.
Credit Suisse, which is Switzerland’s second largest bank, is now at $2.19 a share, and its largest investor, Saudi National Bank, will not lend the bank any more funds because that would be a “regulatory issue.”
#News #WorldNews #BankingCrisis #CreditSuisse #SiliconValleyBank #Switzerland
The audacious plan to guarantee all the deposits of the failed #SiliconValleyBank came after a frenetic weekend of nonstop discussions among #UnitedStates policymakers, including President #JoeBiden.
WP: The 72-hour scramble to save the United States from a banking crisis
Pretty intense blow-by-blow of what happened at the White House over three days to address #SiliconValleyBank.
Love this one by #NickAnderson and #Counterpoint
The collapse of #SiliconValleyBank is under investigation by the Justice Department and SEC, including stock sales by officers days before the bank failed #DOJ
@QasimRashid ⬆️
There ain’t nothin’ more fragile than the #RichWhiteMale ego!
Conservatives blame Silicon Valley Bank collapse on 'diversity' and 'woke' issues
"In Europe, the much smaller local office of SVB in the UK was easily absorbed into HSBC Holdings Plc in a private solution negotiated by regulators swiftly over the weekend. The chances of contagion were far smaller in Europe anyway, in part because rules designed to ensure that banks can cope with a sudden wave of deposit withdrawals apply to many more institutions than in the US."
^^^ Yes, this please. US banking regulations need reform.
Boring banks are once again here to remind you that boring banking is good.
https://www.vice.com/en/article/5d9me8/credit-unions-and-self-described-ethical-banks-email-customers-assuring-them-they-still-have-money
#SiliconValleyBank #bankruns #SanDiegoCountyCreditUnion #SFFireCreditUnion #AmalgamatedBank #finance
Now, after Friday's collapse of #SiliconValleyBank that the entire world is shitting down their pants that US #banking system is gonna collapse like a house of cards taking the rest of the world with it, I'm still waiting to hear from the people who were screaming #bitcoin is a scam last year. Anybody? That guy whose video had over 3 million views on youtube? No? I thought so ...
https://www.nytimes.com/live/2023/03/13/business/silicon-valley-bank
Incoming Silicon Valley Bank Related Scams #svb #siliconvalleybank https://i5c.us/d29630
[updated graph. the old one had a wrong x-axis]
Thom Hartmann writes,
"These same banksters are the first types of people to tell student loan borrowers that if they can’t repay their debts they need 'discipline,' to suck it up, reduce their standard of living, and to 'learn the lesson of responsibility.'
But when their own stupid decisions — in this case, investing in largely illiquid long-term bonds — come back to haunt them, they stand before Congress with their hands out."
#FreeMarket #SiliconValleyBank
https://hartmannreport.com/p/can-we-stop-the-greed-heads-from
/3
Klein is warning those who tout the virtues of the free market about the door they may be opening if they welcome the bailout of Wall Street or banks like Silicon Valley. But he's making a very good point about whom the system is designed to save — and whom it's designed to cut loose.
That market that's "free" for those at the top of the ladder isn't so free for everyone else.
#FreeMarket #SiliconValleyBank
/2
Writing from his conservative perspective that leans towards free-market absolutism, Philip Klein notes that while the government swoops in to save Wall Street or well-connected tech companies, there are those it won't save — to wit:
"And yet lawmakers won’t eliminate student debt, give away free health care, pay for child care, guarantee affordable housing . . . and insert whatever cause you like."
#FreeMarket #SiliconValleyBank
/1
#SiliconValleyBank #UK will be acquired by HSBC in a deal that will protect deposits, the United Kingdom's chancellor said on Monday