Banks?

[snow]

After the second largest bank in our country went tits up today,feds take over,are we coming to a point in our life to pull our cash outof our banks?

 

[lunkerslayer]

Here is the story snow
https://www.zerohedge.com/markets/silicon-valley-bank-crashes-65-halted-pending-news

 

[lunkerslayer]

I guess 151 billion was uninsured of the 175 billion this is a big ouch

 

[Rowdie]

Somehow it's Trump's fault.

 

[Rowdie]

 

[Allen]

After the second largest bank in our country went tits up today,feds take over,are we coming to a point in our life to pull our cash outof our banks?

Why do you say it's the second largest bank? Not that I'm an expert on banks, and this one sounds more geared towards niche or commercial banking, but second largest in the country? Only a fool and over-confident commercial entities exceed the FDIC limits.

 

[snow]

Why do you say it's the second largest bank? Not that I'm an expert on banks, and this one sounds more geared towards niche or commercial banking, but second largest in the country? Only a fool and over-confident commercial entities exceed the FDIC limits.

News claimed this bank "silicone valley bank" was the second largest bank in our country, I didn't just tho this statement out there,first bank since 2008 to be taken over by regulators.

Not looking for an argument, just asking a question, tough times.

 

[eyexer]

Federal regulatio,examination, inspection had been at an unbelievable level for many years now so this one is rather surprising. There has to be some digging into the players in this bank and those at the fed level. Something not right here.

 

[Pheasant 54]

So I believe while this is the 2nd largest bank failure ever. This was the 16th largest bank in the US with most offices in CA and MA. I am assuming this was mostly a commercial bank and therefore the 250K limit would have been exceeded quickly . They used to be able to offer excess FDIC insurance on situations like this but after the 2008 debacle I dont know if thats an option anymore

 

[NDwalleyes]

Go woke an go broke! I saw that the one royal kid, who is a spoiled little shit, had a lot of his money in that bank.

 

[eyexer]

It’s kinda hard to feel sorry for those involved

 

[Pheasant 54]

This is another debacle , so the CEO of SVB is on the fed board in San Fran and sold millions in SVB stock in the last few weeks . So what did he see coming

No doubt there will be talk of bailing everyone out . So the only ones left holding the bag is average US joe citizen

 

[Up Y'oars]

Place a dozen folks in prison for securities fraud, conspiracy, and then pull those stocks they sold and distribute to the missing coffers.

 

[jake57]

I keep saying let's build more prisons and lock people up for breaking the law and NO Holiday In type prisons. this slap on the hands shit has to stop. When I tell people this they say it will cost to much and won't do any good. so how much is it costing us by letting the bastards keep doing the same shit over and over again. We need to show example. You break the law you get locked up for a good long time.

 

[riverview]

pretty sure this is trumps fault too.

 

[Davey Crockett]

I keep saying let's build more prisons and lock people up for breaking the law and NO Holiday In type prisons. this slap on the hands shit has to stop. When I tell people this they say it will cost to much and won't do any good. so how much is it costing us by letting the bastards keep doing the same shit over and over again. We need to show example. You break the law you get locked up for a good long time.

I don't know what the answer is but building more prisons doesn't seem to curb crime at the corporate level unless judges start cracking down on the law. People high on the totum pole are teflon and they staff a good team of lawyers that can get them off with little to no prison time.

 

[Sum1]

It’s not the second largest bank in the country but the second largest to have collapsed. Also it’s not all corporations that lost their money, think of all the 60+ retirees that had 1 million plus in the bank only to lose it and get 250,000 back in insurance. I couldn’t imagine. Hopefully this isn’t a start of the domino effect

 

[Fester]

I don't know what the answer is but building more prisons doesn't seem to curb crime at the corporate level unless judges start cracking down on the law. People high on the totum pole are teflon and they staff a good team of lawyers that can get them off with little to no prison time.

No upper executive or CEO will ever serve jail time. A train derailed and more than likely will kill people in the long term and not one person will serve a minute of jail time over it. You think a bank going belly up or any other company run into the ground and having to be paid for by us tax payers (yes we pay for it one way or another) will ever serve jail time? I stated this on another post…if we actually held CEO’s and executives accountable businesses would be run completely differently then they are now. Just look at Hoeven he tried to legally screw ND tax payers…like you said it’s like Teflon.

 

[Fester]

Mark Cuban says this bank should absolutely be bailed out…….wonder why he would care?

 

[lunkerslayer]

And people of this country wonder why the generation z are not like other generations, other generations started off as liberal but as they grew up, bought a home, and raised a family to become conservative. Not this generation they will stay or even worse become full blown socialist because they have seen our government bailout corporations twice in little over a decade that's why. No other category of people who teeter on upper middle class and the one percentors then the rich people that get bailed out by federal government and the federal reserve. I'm all for capitalism but when financial institutions are given low interest loans to bail them out from going bankrupt like any other capitalist busnines it leaves a bad taste in my mouth. I hope my rant is wrong, I'm overblowning this and these banks are going to be allowed to file for bankruptcy just like any other business.