SVB Financial Group Annual Report

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March 15th, 2023 at 2:01:50 AM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2476
This is worse than I thought.

No wonder politicians are redirecting contributions (Schumer to charity) from SVB.

Signature bank was woke as a joke (see viral video circulating).

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‘Woke’ Bank Getting Biden ‘Bailout’ Was a Massive Contributor to Black Lives Matter

March 14, 2023
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According to the Claremont Institute, records show that Silicon Valley Bank had pledged approximately $74 million to “Black Lives Matter” and associated groups.
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https://trendingpoliticsnews.com/svb-blm-knab/

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March 15th, 2023 at 2:54:12 AM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2476
Quote: terapined



Yeah, the bank got caught on the wrong wide of inflation since credit instruments trade inverse to rates.

As rates climb, principal decreases.

So on a mark to market basis, their wealth evaporated in a short period of time.


The Federal Reserve is sitting on losses well over $1T for the same reason.

That's the nature of the beast.


The issue is allocating resources (like $5B on climate change) that are imaginary.

Obviously, not a very good investment.


So Biden floods the market with cash causing inflation, then banks get caught in solvency issues.

Then Biden bails the banks out because Congress is really at fault, not the banks.
March 15th, 2023 at 5:04:20 AM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2476
So BLM receives $74M from failed Silicon Valley Bank (see above reference), and then (overlap?) BLM received $66.5 from it's "former fiscal sponsor" (see reference here), from which a $6M mansion was purchased.

Isn't that close to the same thing as Biden buying the BLM mansion for the USA?

In other words, can the USA take possession of the mansion through a legal claw-back clause?

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BLM purchased $6 million Los Angeles mansion with donor money: Report

April 04, 2022
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The property purchase came just two weeks after BLM received a $66.5 million cash infusion from its former fiscal sponsor on Oct. 6, 2020.
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https://www.washingtonexaminer.com/news/blm-purchased-6-million-los-angeles-mansion-with-donor-money-report

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March 15th, 2023 at 5:26:46 AM permalink
Tanko
Member since: Aug 15, 2019
Threads: 0
Posts: 1964
SVB invested $26 billion in low yield government bonds, which didn’t provide enough income to cover their expenses. The average return on their government bonds portfolio was only 1.79%. Banks make money on loans, but loan demand was way down due to the high interest rates.

Smart depositors withdrew $8 billion from SVB in January. Which caused the bank to sell government bonds at a loss to cover the withdrawals.

Uninsured deposits will be covered by the Deposit Insurance Fund, which Kevin O'leary says will only incentivize bank managers to make even riskier investments..

There are at least twenty other small banks having similar problems. There isn’t enough money in the DIF to cover all of them.

Charles Payne takes off his glasses
March 15th, 2023 at 5:41:17 AM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2476
By the way, GS and META donated to BLM amounts of $10B and $1B respectively.

So Silicon Valley Bank's $74M donation, is small, comparatively.

META just announced 10,000 more employees being cut.

I'd stay away from META as a bear trade, but would consider GS at a price peak.
March 15th, 2023 at 7:01:34 AM permalink
rxwine
Member since: Oct 24, 2012
Threads: 188
Posts: 18633
Quote: Tanko


Uninsured deposits will be covered by the Deposit Insurance Fund, which Kevin O'leary says will only incentivize bank managers to make even riskier investments..



Is the medicine worse than the disease or vice versus?
You believe in an invisible god, and dismiss people who say they are trans? Really?
March 15th, 2023 at 7:07:29 AM permalink
terapined
Member since: Aug 6, 2014
Threads: 73
Posts: 11786
Quote: Tanko


Uninsured deposits will be covered by the Deposit Insurance Fund, which Kevin O'leary says will only incentivize bank managers to make even riskier investments..


Kevin O'leary??????????????????
Isnt this the clown that promoted FTX and thought SBF was a genius
He went so far as to lie to congress stating that Binance put FTX out of business
LOL
Sometimes we live no particular way but our own - Grateful Dead "Eyes of the World"
March 15th, 2023 at 7:15:29 AM permalink
Tanko
Member since: Aug 15, 2019
Threads: 0
Posts: 1964
Quote: rxwine


Is the medicine worse than the disease or vice versus?


Three bank failures, so far this week.

According to Biden, uninsured deposits will be covered by the Deposit Insurance Fund, but there are at least twenty other small banks having similar problems. There isn’t enough money in the DIF to cover all of them.

US taxpayers could end up being on the hook for trillion$. Which will fuel more inflation.
March 15th, 2023 at 7:16:44 AM permalink
SOOPOO
Member since: Feb 19, 2014
Threads: 22
Posts: 4157
Gavin Newsom has been lobbying the Biden administration to bail out the corrupt failed California bank. Guess how many personal accounts/business ties he and his wife had with the bank? I need more fingers. The entitled rich politicians have no shame!
March 15th, 2023 at 8:30:21 AM permalink
rxwine
Member since: Oct 24, 2012
Threads: 188
Posts: 18633
Quote: SOOPOO
Gavin Newsom has been lobbying the Biden administration to bail out the corrupt failed California bank. Guess how many personal accounts/business ties he and his wife had with the bank? I need more fingers. The entitled rich politicians have no shame!


I will await the Republicans to suggest some iron-clad proposal, no bail-outs, ever under any circumstances exceeding regulatory requirements. I won't hold my breath though until it happens.
You believe in an invisible god, and dismiss people who say they are trans? Really?
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