Have any of you been impacted by the SVB failure?

[ua_guy]

Let's be clear, svb did this to the banking industry, and FDIC is funded by banks, and svb was playing fast/loose and they had calculated a risk and decided to take that risk anyway. There was legislation to prevent this, but it was summarily dismissed by the last administration. How can you people not see this?

[myrdale]

it was summarily dismissed by the last administration. How can you people not see this?

We are half way through the current administration. At what point does the current administration start owning how the country is being run?

[myrdale]

A lot of people don’t understand that. They think their tax dollars pay for it, which isn’t true.

That is absolutely right. If you or I had up to $250k in that bank we would be covered. This is how it is meant to work.

Now Roku has $487M in SVB. I understood the president to say all deposits would be backed. Did I misunderstand?

[ua_guy]

We are half way through the current administration. At what point does the current administration start owning how the country is being run?

Oh, zing! Except the do-nothing flip-flop congress couldn't agree on anything in the first two years, and now that the house is full of monkeys, good luck getting anything real, done.

You do understand SVB's assets didn't just disappear, right?

[QuarterMillionMan]

We all will be impacted. This is just the canary in the coal mine. Credit Suisse looks to be next.

[ua_guy]

I don't really see how they're related yet, if at all. As of this evening I think Swiss National said they'd back CS after the Saudis said they couldn't lend any more. Sure, there's a ripple to be felt, but I think this is just unfortunate timing of unrelated circumstances. Not a domino effect or cause/effect.

[bjl584]

I don't see this spreading. From what I can tell, SVB was running a bad business model. Not enough liquidity and too many clients in the start up and venture capitalist tech arena.
The loosening of Dodd Frank didn't help, but there were still rules and regulations in place. SVB simply wasn't following them, and regulators were turning a blind eye.
Laws are only good if they are enforced.

[Fishindude77]

I don't see this spreading. From what I can tell, SVB was running a bad business model. Not enough liquidity and too many clients in the start up and venture capitalist tech arena.
The loosening of Dodd Frank didn't help, but there were still rules and regulations in place. SVB simply wasn't following them, and regulators were turning a blind eye.
Laws are only good if they are enforced.

Truth !

[myrdale]

Oh, zing! Except the do-nothing flip-flop congress couldn't agree on anything in the first two years, and now that the house is full of monkeys, good luck getting anything real, done.

Poor old joe just can't get nothing done, those mean republicans just won't let him. Come on man!

So what? Are you saying we can expect two more years of excuses and finger pointing from the current administration? Hopefully the next administration quite so impotent.

[myrdale]

Laws are only good if they are enforced.

100%

[ua_guy]

Poor old joe just can't get nothing done, those mean republicans just won't let him. Come on man!

So what? Are you saying we can expect two more years of excuses and finger pointing from the current administration? Hopefully the next administration quite so impotent.

Let's back up for a second. To that point, a lot has been accomplished. I'm surprised nobody has started a celebratory thread that Biden gave the green light to Willow. Biden is more moderate than he's given credit for.

SVB's assets didn't disappear. They were seized because of the bank's inability to "bank". The bridge-bank created in the aftermath of SVB is operational and people have access to their money. The assets will be managed to repay depositors for the full value of their accounts according to multiple sources.

You would know that since you do read the news, right?

[myrdale]

Let's back up for a second. To that point, a lot has been accomplished. I'm surprised nobody has started a celebratory thread that Biden gave the green light to Willow. Biden is more moderate than he's given credit for.

You want people to praise a politician for back pedaling on campaign promises? Give it a few weeks and follow the money and then we'll see. You think it's a coincidence that the project is named after his cat?

[ua_guy]

You want people to praise a politician for back pedaling on campaign promises? Give it a few weeks and follow the money and then we'll see. You think it's a coincidence that the project is named after his cat?

Oops looks like I hit a sensitive spot. Guess those fake indy news sites don't actually give you all the information needed to form informed arguments.

Yes I do believe it's fake news that the project is named after Biden's cat. Oil was discovered in the Willow Prospect area back in 2016. Sorry dude, Biden's cat was born in 2020. But I suppose it's possible the cat was named after the project.

[Atretes1]

Umm, I put a 5k order in for VTI on the 1 day drop in my taxable account. Shares on sale. Other than that moving along like normal.

[myrdale]

Oops looks like I hit a sensitive spot. Guess those fake indy news sites don't actually give you all the information needed to form informed arguments.

Yes I do believe it's fake news that the project is named after Biden's cat. Oil was discovered in the Willow Prospect area back in 2016. Sorry dude, Biden's cat was born in 2020. But I suppose it's possible the cat was named after the project.

I don't understand what you mean by sensitive spot. Biden had said no more drilling under his watch, and yet we are drilling.

The reference to the cat is what one would call a joke. I am not sure what fake indy new sites you're referencing. Please provide a single source which actually states a link between the cat and the oil field. I thought it was clever, maybe someone already beat me to the punch.