2023-03-14
Horseshit
Trump / War against the Right / Jan6
Culture War / Tribal / Re segregation
Media / ShowBiz / Advertising
TechSuck
Crypto con games
Economicon / Business / Finance
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Why regulators seized Signature Bank in third-biggest bank failure in U.S. history.
“We had no indication of problems until we got a deposit run late Friday, which was purely contagion from SVB,” Frank told CNBC in a phone interview.
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SVB collapse: Peter Thiel’s role scrutinized as spark of bank run
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SVB shows that there are few libertarians in a financial foxhole
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Y Combinator cuts nearly 20% of staff, scales back growth stage investments
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Federal Home Loan Bank of San Francisco was quietly bailing out SVB
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Silicon Valley Bank parent, CEO, CFO are sued by shareholders for fraud
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The Fed’s tightening is a recipe for global volatility. SVB’s collapse
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Big Trouble In Little Banks - Bailout Sparks Buying Panic In Bonds, Bitcoin, & Bullion | ZeroHedge
the market has completely blown up any hopes that The Fed had for a hawkish path from here with the terminal rate plunging and significant rate-cuts being priced in. For context, the market expected over 110bps of rate-hikes by September on Wednesday, it now believes that by September, rates will be over 65bps lower... "in the words of the Virgin Mary, come again!"
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Inflation cooled to 6% in February as the Federal Reserve weighs next steps
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The fall of SVB and the Story of Silicon Valley Recapitalization Fund, L.P.
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Who Killed Silicon Valley Bank? - WSJ
Was there regulatory failure? Perhaps. SVB was regulated like a bank but looked more like a money-market fund. Then there’s this: In its proxy statement, SVB notes that besides 91% of their board being independent and 45% women, they also have “1 Black,” “1 LGBTQ+” and “2 Veterans.” I’m not saying 12 white men would have avoided this mess, but the company may have been distracted by diversity demands.
Management screwed up interest rates, underestimated customer withdrawals, hired the wrong people, and failed to sell equity. You’re really only allowed one mistake; more proved fatal. Was management hubristic, delusional or incompetent? Sometimes there’s no difference.
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‘Old-School’ Signature Bank Collapsed After Its Big Crypto Leap
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Credit Suisse finds ‘material weakness’ in reporting, scraps exec bonuses
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Too-Big-To-Fail Banks Flooded With Deposits As Bank Run Drains Small Bank Of Cash | ZeroHedge
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Moody's changes outlook on U.S. banking system to 'negative'
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U.S. Is Said to Open Investigation Into Silicon Valley Bank Collapse