Money & Economics
- Thread starter bigredfish
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Oceanslider
Known around here
Why am I not surprised?
'Another Scandal': Biden Admin 'Radicals' Blocked SVB Sale, Nationalized It, Then Blamed Trump For Collapse
'Another Scandal': Biden Admin 'Radicals' Blocked SVB Sale, Nationalized It, Then Blamed Trump For Collapse | ZeroHedge
Instead of spending taxpayer dollars to nationalize Silicon Valley Bank, a private buyer favored by the Treasury and the Federal Reserve had emerged, only to be nixed by FDIC Chairman Martin Gruenberg, according to the Wall Street Journal, citing a source with knowledge of the situation.
"If this is true," said Grabien founder Tom Elliott, "then this is another Biden scandal."
Something deeper afoot?
Biden's blame game aside, crypto VC Nic Carter has some very interesting thoughts on what went down in regards to the shuttering of Signature Bank, calling it a "Colossal scandal."
Heard this independently from other sources as well. I suspected as much last night but confirmed today. Signature was executed last night not due to any runs but as a political scalp, intended to be veiled by the fog of war.
Apparently even FDIC was surprised when it was dropped into their hands. The claimed justification was Signatures Signet product, which was perceived to be "systemic"
My conclusion is that politicians like Liz Warren together with regulatory bodies fragilized crypto banks and encouraged runs against them, then used withdrawals as a pretext to close them down
What was meant to be a surgical operation became a massive banking crisis.
'Another Scandal': Biden Admin 'Radicals' Blocked SVB Sale, Nationalized It, Then Blamed Trump For Collapse
'Another Scandal': Biden Admin 'Radicals' Blocked SVB Sale, Nationalized It, Then Blamed Trump For Collapse | ZeroHedge
Instead of spending taxpayer dollars to nationalize Silicon Valley Bank, a private buyer favored by the Treasury and the Federal Reserve had emerged, only to be nixed by FDIC Chairman Martin Gruenberg, according to the Wall Street Journal, citing a source with knowledge of the situation.
Kevin Hassett, former Chairman of the Council of Economic Advisers under Trump, told Fox Business that "there were buyers who were willing to step in & buy [SVB, but] the radicals at the @FDICgov basically weren’t going to allow that to happen ... the Biden Admin had a whitelist of companies that were allowed to buy the failed bank & companies that weren’t."
"If this is true," said Grabien founder Tom Elliott, "then this is another Biden scandal."
Something deeper afoot?
Biden's blame game aside, crypto VC Nic Carter has some very interesting thoughts on what went down in regards to the shuttering of Signature Bank, calling it a "Colossal scandal."
Heard this independently from other sources as well. I suspected as much last night but confirmed today. Signature was executed last night not due to any runs but as a political scalp, intended to be veiled by the fog of war.
Apparently even FDIC was surprised when it was dropped into their hands. The claimed justification was Signatures Signet product, which was perceived to be "systemic"
My conclusion is that politicians like Liz Warren together with regulatory bodies fragilized crypto banks and encouraged runs against them, then used withdrawals as a pretext to close them down
What was meant to be a surgical operation became a massive banking crisis.
Moody’s cuts outlook on U.S. banking system to negative, citing ‘rapidly deteriorating operating environment’
www.cnbc.com
Moody's cuts outlook on U.S. banking system to negative, citing 'rapidly deteriorating operating environment'
The firm, part of the big three rating services, said it was making the move in light of key bank failures.
www.cnbc.com
Suppose you had all your money in your woke friendly SVB. All of your
big depositors have gotten together for the celebration of getting all those risky millions back.
Thanks Joe
big depositors have gotten together for the celebration of getting all those risky millions back.
Thanks Joe
Ssayer
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Maybe Americans Don’t Mind High Prices Anymore
As inflation keeps rising, economists and companies wonder if U.S. shoppers have become less price-conscious.
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Ssayer
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This is what you end up with when Woke Californian's move to your city and start up a company. LOL A Fake Hollywood production...
We made these people rich, use to cost a quarter to go see a movie including popcorn and a drink, now you are looking at $25
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Ssayer
BIT Beta Team
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Biden Admin Promises To Tax Silicon Valley Billionaires On All The Money The Federal Government Just Gave Them
WASHINGTON, D.C. — After spending billions to bail out Silicon Valley billionaire tech entrepreneurs, the Biden Administration is vowing to tax all taxpayer money they gave to Silicon Valley.
babylonbee.com
Stock futures fell on Wednesday as pressure on the financial sector increased with shares of Credit Suisse, a Swiss Bank that has large U.S. and global operations, tumbling more than 25%.
woooo.......
woooo.......
Ssayer
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Leadership: Biden Calls On Banks To Stop Collapsing
WASHINGTON, D.C. — Many are praising President Biden for his swift and decisive leadership this morning. In a set of forceful and clear remarks to the country's financial system, he called on all banks to stop collapsing immediately.
babylonbee.com
Yep, CS is down 98% from just 2 years ago. Guessing it will be tits up soon.
The entire banking system is screwed. They're used to years of handouts, free money, and no competition.
The entire banking system is screwed. They're used to years of handouts, free money, and no competition.
I've given up trying to predict anything based on logic. The government warps things way beyond what I ever thought was conceivable. There's no telling what it will do or what the outcome will be.