Politics And Current Events

[mikey]

Yeah, because there's no capital gains tax or anything...

[NTP66]

They want government to stay out of everything until a bank fails, and they start demanding that they all be bailed out. **** them all.

[count2infinity]

Yup. Privatize profit, socialize loss. It’s how it works.

[Gaucho]

It's either that or Venezuela, sorry.

[King Colby]

Also sounds like a bunch of startups had all their deposits in just this bank? Like Roku might be screwed or something.

Another normal thing that smart companies do is use different banks to ensure their deposits are all fdic insured. This is all just lazy **** because all these companies are run by tech guys that think they’re smarter than everyone and don’t have to do things that actual smart companies do.

65,000 startup companies had their deposits in SVB. 96% of their accounts are too large for full FDIC coverage. That number at BofA is 38%. Everything about their risk management and diversification is a joke.

BofA deez nuts

[Willie Kool]

Peter Thiel pulled his money out days before the collapse

And then started the run on the bank by advising all his clients and other HF's to withdraw their funds. How much you want to bet that he went short on the stock before doing so?

[Willie Kool]

Full disclosure: I need $175 to get even after l bought 5 shares at the bottom Friday morning at $35 hoping for a quick flip.

[NTP66]

Peter Thiel pulled his money out days before the collapse

And then started the run on the bank by advising all his clients and other HF's to withdraw their funds. How much you want to bet that he went short on the stock before doing so?

Oh, 1000% he did this.

[willeyeam]

I wonder what the fine line is. Like, if I'm CFO with stock options, you're a moron if you go down with the ship right? But if you sell before it looks super shady.

[NTP66]

That’s a different scenario than shorting the stock, though.

[Troy Loney]

I wonder what the fine line is. Like, if I'm CFO with stock options, you're a moron if you go down with the ship right? But if you sell before it looks super shady.

Insider trading rules seem pretty straightforward

[mikey]

Problem solved...

[Dickie Dunn]

What a dumb idea

[NTP66]

I’ll wait for a source other than Aladdin to believe it.

[Willie Kool]

The current interest rate environment has had dramatic effects on the profitability and risk profile of banks’ funding and investment strategies. First, as a result of the higher interest rates, longer term maturity assets acquired by banks when interest rates were lower are now worth less than their face values. The result is that most banks have some amount of unrealized losses on securities. The total of these unrealized losses, including securities that are available for sale or held to maturity, was about $620 billion at yearend 2022.

https://www.fdic.gov/news/speeches/2023/spmar0623.html

[willeyeam]

I wonder what the fine line is. Like, if I'm CFO with stock options, you're a moron if you go down with the ship right? But if you sell before it looks super shady.

Insider trading rules seem pretty straightforward

Well I'm not an insider and don't know the rules so that's why I'm wondering

[Troy Loney]

I wonder what the fine line is. Like, if I'm CFO with stock options, you're a moron if you go down with the ship right? But if you sell before it looks super shady.

Insider trading rules seem pretty straightforward

Well I'm not an insider and don't know the rules so that's why I'm wondering

Can’t make trades based on material non public information

It’s why most responsible orgs have rules around people making trades that have access to valuable info

[faftorial]

Meatball Ron is blaming the bank collapse on wokeness:

Florida Gov. Ron DeSantis,
who is expected to enter the 2024 GOP nomination race later this year, suggested the bank’s collapse was related to the institution being distracted by diversity, equity and inclusion goals. He often argues such efforts go too far.

“This bank, they’re so concerned with DEI and politics and all kinds of stuff, I think that really diverted from them focusing on their core mission,” he said Sunday on Fox News.

https://www.wsj.com/amp/articles/silico ... _lead_pos2

[nocera]

Mic’d up players are always so boring. Where’s Ian Moran when you need him?

[nocera]

Banks.

[NTP66]

I have no idea if you meant to post this in a different thread, but I will always love Moran for his mic’d up moments.

[nocera]

I have no idea if you meant to post this in a different thread, but I will always love Moran for his mic’d up moments.

Definitely did but it’s way more interesting than bank bailouts.

[Willie Kool]

Get Woke, Go Broke...

From last May: https://nypost.com/2022/05/10/bill-ackm ... apitalism/

Pershing Square Capital boss Bill Ackman and tech billionaire Peter Thiel are among the investors backing an upstart fund that’s aiming to lead a movement against politically influenced “stakeholder capitalism.”

Dubbed Strive Asset Management, the fund was founded by pharmaceutical investor Vivek Ramaswamy – who also authored a best-selling book called “Woke, Inc.” that published last year.

This was so obviously an orchestrated hit job by Theil, Ackman, etc.

Ramaswamy said his firm will attempt to directly compete with asset management giants such as BlackRock, Vanguard and State Street.

“The Big 3 asset managers have fueled this polarizing new trend in corporate America, and that’s why we’re going to compete with them head-on to refocus American companies on the shared pursuit of excellence over politics,” Ramaswamy added.

Vanguard, Blackrock and State Street just happen to be the 3 largest shareholders in SIVB...

[NTP66]

He’s going to compete with VG? Lol

[Troy Loney]

Meatball Ron is blaming the bank collapse on wokeness:

Florida Gov. Ron DeSantis,
who is expected to enter the 2024 GOP nomination race later this year, suggested the bank’s collapse was related to the institution being distracted by diversity, equity and inclusion goals. He often argues such efforts go too far.

“This bank, they’re so concerned with DEI and politics and all kinds of stuff, I think that really diverted from them focusing on their core mission,” he said Sunday on Fox News.

https://www.wsj.com/amp/articles/silico ... _lead_pos2

Sometimes I wish I were dumb enough to just believe this.

It would make life so much easier being that stupid