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amusing. yer gayboy Cohen is an idiot. always with the far left it's "Republicans caused this!" with massive deregulation. didn't happen. there was no massive regulatory rollback on banks. blame Trump? this guy has a bronze TDS Cobb up his ass. Cohen is completely wrong, as usual, for spewing far left nonsense claiming it would have prevented this collapse.
the reality is that SVB is a boutique bank not open to average joe customers and they put all their eggs in one high risk game .. venture capitol. a notoriously high risk low profit game. oh they make bank when they fund the next google, but the other nine ventures of ten fail. most startups fail. does this idiot Cohen think regulation would have prevented this? over time 90% of startups fail. how's Cohen going to stop that with regulations?
what a idiot.
Quote:
Originally Posted by dilbert firestorm
those safety brakes would not have made a difference keeping tank trains safe O thought he was doing a favor, but it really didn't do anything. still had train derailments year after year with no sign of reduction.
the banks were already deregulated prior to trumps involvement.
who passed the law to repeal a depression era law to ban banks being involved in the stock market?
Make no mistake, S. 2155 is the second part of a massive corporate giveaway. The corporate tax cuts passed in December 2017 were a windfall for big banks—and big banks are again winners in this legislation.
If enacted, the Economic Growth, Regulatory Relief, and Consumer Protection Act would represent the most significant rollback of financial reform since Dodd-Frank was passed in the wake of the 2007–2008 financial crisis. At a time when the banking sector is thriving—and just received a massive windfall through the recent corporate tax cut giveaway—it makes no sense to loosen the regulations on the largest banks in the country or to weaken important protections for homebuyers and homeowners. History makes clear that bankers and policymakers are not the ones who bear the immense burdens of a financial crisis.
Lustylad and Bambino want to play their little game of “I gotcha”...
...If they are really interested about private insurance for bank depositors, there are several fine educational institutions in Pittsburgh that may be able to help them, such as the University of Pittsburgh and Carnegie Mellon University.
...If they are interested in seeing if Berkshire Hathaway carries private deposit insurance on cash they have at various banks... You may have to attend one of their annual meetings and ask that question, or send in a letter to Berkshire Hathaway.
Gee thanks for the advice, VM, but there's no need for bam or me to do all that cuz it looks like Texas Contrarian already "GOTCHA"!
Quote:
Originally Posted by Texas Contrarian
No, he (Buffett) doesn't need to purchase any sort of private deposit insurance. Berkshire Hathaway buys Treasury assets similarly to how you might do so through TreasuryDirect.
Warren Buffett parks most of Berkshire Hathaway’s cash in ultra-safe U.S. Treasury bills, and individual investors may want to consider following Buffett’s lead now that they are yielding as much as 3%.
Treasury bills, which are U.S. government securities maturing in less than a year, are a good alternative to money market funds and bank certificates of deposits. Interest is exempt from state and local taxes, a contrast with bank CDs.
Investors can buy them directly from the Treasury through the TreasuryDirect program or through banks and brokers.
Buffett, the long-time Berkshire Hathaway (ticker: BRK.A , BRK.B) CEO, prefers T-bills to such other short-term debt as commercial paper (a corporate IOU) because he never wants to worry about the safety of Berkshire’s cash trove, which totaled $105 billion on June 30. About $75 billion of that total is held in Treasury bills. Buffett regularly refers to the T-Bill holdings in his annual shareholder letter.
So, blame the GOP in the House. That's your gameplan TS? A Biden official, representing Biden comes to the House asking for some rule changes. The House complies and a bank fails...did you forget that this was happening before last week? That the highest officials of the bank were already selling off last month. This rot in the banking industry has nothing to do with the House republicans. Saying otherwise is a hack move by a hack. A poorly informed hack. The latest is that the officer in charge of making good investment decisions was more interested in diversity, self-congratulations, and "saving the planet". Go woke, go broke and now it applies to people who stood by and invested.
So now we play the democrat game of semantics. No bailout...but they do promise that everyone will be made whole. What's the difference between a bailout and making everyone whole? A difference that is not a difference is not a difference. I think Kameltoe Harris said that.
Just watch faux "cable" news "report" on the bank failures. Whatever faux reports, the true facts will be just the opposite.
That's just another fact some people and mega bots are just not able to comprehend
Kevin O’Leary Stuns CNN Panel Telling Them “Biden Just Nationalized U.S. Banking System”…
March 13, 2023 | Sundance | 251 Comments
The CNN panel was jaw-agape as Kevin O’Leary appeared earlier today to inform them the decision by Joe Biden to guarantee every deposit in U.S. regional banks is akin to “Joe Biden just nationalized the U.S. banking system.”
O’Leary is correct, and anyone who is holding assets like stocks or bonds in U.S. banks now needs to reconsider the disappeared line between government and the bank assets. If the government can assume, control and backstop every single account balance within the bank, the government can assume and control all activity of the bank. WATCH:
Downstream…. think about the consequences. Remember the frozen bank accounts in Canada as a result of defining truck protest supporting Canadian citizens as domestic extremists?
Now think about the government no longer needing to ask the bank to take action, the govt has a regulatory ability to demand the bank to take action. This takes “debanking” to an entire new level. People are wondering why cryptocurrencies went up in value today. There’s your answer.
Comrade citizens, at the end of this rainbow of bank nudges, we will find ourselves at the footsteps of a government controlled central bank digital currency.
every sentient man woman and properly raised bairn
know its not trump's fault, i'm not so sure about the other 65 genders however
now there are pusillanimous adults, fearful of loss of whatever type, who will mouth the party line that its trump's fault, even while knowing the truth...but then again truth has never been a leftist value
so the parroting of the white house line, trying to blame a tweak of dodd frank, ala the railroad debacle, is the order of the day
there are political reasons biden is back stopping all loss
one of which is ..well its silicon valley and many hedge funds, that back, for instance "climate change" start-ups, borrow from svb and then deposit back into svb, which. with a straight but obscured line, lead to svb being a hedge fund of sorts itself, and in a politically favored line of endeavor no less, a new solyndra of sorts
and all these leftist, illiberal rich people will be out if biden doesn't come through
svb didn't have a director of risk management for about 8 months i read, and the ancilliary risk mangers were too busy with dei and lgbtq (are there other letters?) indoctrinations to manage risk, and someone sold the hedge they did once have for a short term profit
