[jonKranked]

SVB is down. now credit suisse is tanking. i think this deserves it's own thread.

Credit Suisse stock slump triggers close monitoring by regulators

Credit Suisse shares slumped by as much as 30% on Wednesday after its largest shareholder said it could not provide further support, prompting the Swiss bank's CEO to make new assurances on its financial strength.

www.reuters.com

 

[Toshi]

collape?!

 

[jonKranked]

collape?!

It's only an authentic collapse if it's from the collapé region

 

[jonKranked]

collape?!

I am running on little sleep today, was up a good bit of the night with a sick kiddo.

 

[jonKranked]

 

[Toshi]

The understanding of this that I have from a few lay press articles is that (asides from the stupid self-induced bank run on SVB that was the ultimate precipitating event) these banks are overexposed to long term bonds, and the Fed's moves over the last 12-18 mo have led to those asset prices being depressed.

Anyone seen a more nuanced take than this face value explanation?

 

[Nick]

investment in fixed low interest bonds
crime
insufficient liquidity reserves
also, crime
fear/volatility causing widespread and unexpected withdrawals (see #3)

 

[kidwoo]

The understanding of this that I have from a few lay press articles is that (asides from the stupid self-induced bank run on SVB that was the ultimate precipitating event) these banks are overexposed to long term bonds, and the Fed's moves over the last 12-18 mo have led to those asset prices being depressed.

Anyone seen a more nuanced take than this face value explanation?

"housing prices never go down"/"interest rates will never go up" is certainly part of it.

Irresponsible lending to depositors taking huge risks via uninsured deposits was another one. The fact that this was based where it is should tell you everything. People are too scared to slap around these idiots with money for fear that we might sTiFLe iNnOvAtIOn when all most of the dumbasses do is reinvent things like buses and taxi companies.

the entire tech industry is a scam that makes little to nothing of value, much like SVB itself. The other banks you're seeing in trouble did a lot of the same shit.

the bank run was just facing a reality no one wanted to admit, at least not outloud. It's the moment people realized the inevitable frailty of credit default swaps that no one wanted to discuss because they were making money. Where the real estate collapse was based on unrepayable loans and massive bundling and reselling in a housing market that 'never goes down', this was almost old school straight pyramid scheme shit with deliberately ignored safety measures designed to prevent exactly this kind of thing.


It took 4 days to decide to repay these assholes when they damn well knew what they were doing. This whole govt sucks dick.

 

[SkaredShtles]

View attachment 190936

 

[Nick]

Credit Suisse is going to be the big trigger, if they fail. Like $1.5T under management which means it'll fuck in some way everyone they're in bed with. my 3/24 and 4/21 $SPY puts up over 100% since open.

 

[6thElement]

Credit Suisse is going to be the big trigger, if they fail. Like $1.5T under management which means it'll fuck in some way everyone they're in bed with. my 3/24 and 4/21 $SPY puts up over 100% since open.

From my fiscal understandings, when we're all broke next week, we blame @Nick.

 

[kidwoo]

my 3/24 and 4/21 $SPY puts up over 100% since open.

dafuq did you just say?

you don't sound cool when you abbreviate everything, you just sound like stoney trying to sound smart by speaking like he does at work

 

[jonKranked]

i'm sure more will come out.

 

[SkaredShtles]

dafuq did you just say?

you don't sound cool when you abbreviate everything, you just sound like stoney trying to sound smart by speaking like he does at work

He is using advanced finance techniques to make money, bro'!

 

[canadmos]

 

[jonKranked]

investment in fixed low interest bonds
crime
insufficient liquidity reserves
also, crime
fear/volatility causing widespread and unexpected withdrawals (see #3)

i posted this in the economy thread, but it's relevant here. one interpretation i saw of this is that this may have contributed to the run on SVB, or at least accelerated it. anyone more financially savvy than me able to confirm if that interpretation is accurate?

"Thiel's Founders Fund is thought to have propped up several startups that banked with SVB, which provided banking for nearly half of all US venture-backed startups, per its website. The fund had also called for its startups to withdraw their funds from the bank as well. "

Peter Thiel's Founders Fund got its cash out of Silicon Valley Bank before it was shut down, report says

Bloomberg reported that Thiel's VC fund took all its cash out of SVB after encountering problems with transfers during a "capital call."

www.businessinsider.com

 

[kidwoo]

He is using advanced finance techniques to make money, bro'!

let's make a run on nick

anybody who talks like that has more money than me

 

[Toshi]

Analysis: Why Silicon Valley Bank and Signature Bank failed so fast

Silicon Valley Bank and Signature Bank failed with enormous speed – so quickly that they could be textbook cases of classic bank runs, in which too many depositors withdraw their funds from a bank at the same time.

www.pbs.org

55% in Treasuries for SVB!

 

[SkaredShtles]

let's make a run on nick

anybody who talks like that has more money than me

Or, conversely, he's using advanced finance techniques to LOSE money, bro'!

 

[Nick]

dafuq did you just say?

you don't sound cool when you abbreviate everything, you just sound like stoney trying to sound smart by speaking like he does at work

I'm sorry. it wasn't dick swinging, just learned how to make some money when things are down/going down, so I'm doing it.

 

[kidwoo]

I'm sorry. it wasn't dick swinging, just learned how to make some money when things are down/going down, so I'm doing it.

ty 11:13PDT


3.14159

 

[Nick]

ty 11:13PDT


3.14159

Y/W, ttfn

 

[sunringlerider]

My take on current situation

 

[Westy]

So Trump weakened our support for Ukraine

Deregulated trains

Deregulated banks

What else should we expect to happen?

 

[jonKranked]

So Trump weakened our support for Ukraine

Deregulated trains

Deregulated banks

What else should we expect to happen?

xpost from the drumpf thread:

Federal investigators examined Trump Media for possible money laundering, sources say

New York prosecutors expanded criminal inquiry of company last year and examined acceptance of $8m with suspected Russian ties

www.theguardian.com

 

[jimmydean]

https://www.cnn.com/2023/03/15/investing/first-republic-downgrade/index.html

First Republic Bank’s credit rating was downgraded on Wednesday by both Fitch Ratings and S&P Global Ratings on concerns that depositors could pull their cash despite the federal intervention.

 

[kidwoo]

So Trump weakened our support for Ukraine

Deregulated trains

Deregulated banks

What else should we expect to happen?

gay, trans, and pregnant people get.....oh wait

 

[4xBoy]

Shit hasn't hit the fan yet, but it won't be long.

Lots of people are in a fuck me moment, don't want to do anything because they have a 3% home loan, going to loose job cause every company is going to clean house.

I'm used to it, been fucked over most of my financial life.

 

[kidwoo]

Shit hasn't hit the fan yet, but it won't be long.

YOU lose a third home!! YOU lose a third home!! YOU lose a third home!!

 

[Westy]

gay, trans, and pregnant people get.....oh wait

Paris climate Accord.

How is your nice temperate Californian weather?

 

[Westy]

YOU lose your only home!! YOU lose your only home!!

Yeah! Because rich people always lose out when this shit happens.

FTFY.

At least it could make houses cheap enough for me to pick up a second.

 

[Jm_]

Yes, it would take a major collapse to bring housing prices down. doubtful those that “have” would ever let that happen, they’ll skin poor people before they let that happen.
According to the NPR i just heard, that swiss bank has been involved in a lot of money laundering in recent years and investors have been backing off.

 

[kidwoo]

At least it could make houses cheap enough for me to pick up a second.

Yeah! Because rich people always lose out when this shit happens.

You want me to dig up brain's posts from 2009ish?

That's when he sold his tahoe house and "suffered"

It's when toshi created the real estate thread because his house value not continuing to skyrocket is 'suffering'

I don't want people in ditches, I want the petty bourgeoisie to curb their bullshit discretionary spending and fuck off back to their own damn cities.


and to watch them hand wring over mUh iNvEsTmEnTs......that shit is always funny

 

[4xBoy]

Clutches pearls, how are we going to get them invest in our retirement pyramid funds scheme this time.

Don't worry the real rich won't feel a thing.

 

[Jm_]

it’ll be all about bailing out homeowners at that point.

 

[4xBoy]

it’ll be all about bailing out homeowners at that point.

I'm waiting to hear, reverse interest rate on home loans cause those were to low.

Or a change where the first 3% is not tax deductible.

 

[Westy]

swiss bank has been involved in a lot of money laundering in recent years and investors have been backing off.

Recent years? I thought that was their long standing mission statement

 

[kidwoo]

it’ll be all about bailing out homeowners at that point.

JUST LIKE LAST TIME!

 

[kidwoo]

Don't worry the real rich won't feel a thing.

It's not news to me that that ilk is basically untouchable. I want the fucks who want more than anything to be those fucks to suffer. The jews working the ovens if you will..... Because THOSE people are the ones allowing the truly absurdly rich to exist. Tesla is nothing if that crowd doesn't buy cars if ya know whadda mean.

 

[Toshi]

You want me to dig up brain's posts from 2009ish?

That's when he sold his tahoe house and "suffered"

It's when toshi created the real estate thread because his house value not continuing to skyrocket is 'suffering'

fun fact: I rented until 2015