One would have to be pretty f***ing stupid to think that an exec taking some time out of their day to help organize an event is the reason this bank fell. Y'all keep spouting this nonsense "get woke go broke" but it keeps not happening. This bank didn't fail because of an insignificant inclusivity program.
This should not be labeled a black swan or perfect storm or bad timing. Their MBS was a huge liability that wasn't going to resolve itself anytime soon, especially considering Powell was indicating the Fed was going to raise rates at a higher rate. Eventually this bank was going to face a serious problem even w/out a bank run. In the past few months, there has been an increase chatter about bank runs and its largely been dismissed by the pundits stating bank runs are a thing of the past and really can't happen now. This is largely an indictment against MMT policy. The big question remains - How common is this risk across the board, not in just commercial banks, but also in many of the regional banks. I will feel better if the Fed raises rates 50bps than falling back to 25bps or even holding. If they do not raise rates, I am concerned. What the Fed is doing is important. Their goal is to continue to strengthen the dollar and wash out bad money, not just domestically but internationally as well. If they stop raising rates now because banks are loaded down with MBS, expect inflation to pick up and the 'axis of evil' countries press harder to get their BRICS currency underway. Also, for those who want to blame the orange haired man for rolling back the Dodd-Frank, the geriatric man could have reversed this as he had full control of Congress. My 1 week prediction is this will all be water under the bridge by the end of next week, but there is a strong headwind of contagion in the air.[/QUOTE]
bluntly put, you have no idea what have has cut n pasted. you need to read the Dodd Frank, and how Trump rolled bank the Dodd Frank compliance for banks like SVB ROFLMAO
Back to spewing your same bullshit theories huh. Of course it's not trumps fault that he reversed regulations! Biden should've just put them back! How dare Biden doesn't have 60 votes in the senate to pass the same regulations that politicians were forced to sign after one of the biggest recessions in America history LOL. Do you ever sit back and listen to the utter horseshit that comes out of your mouth? Seriously? You're so full of utter ****. He deregulated the entire economy and passed trillion dollar tax cuts then the Maga wonder why bad things are happening
What the hell does thus have to do with the bank not being properly funded and the ceo taking massive risky bets? Wall Street crooks don't give a **** about climate change. They use ESG to help bolster R&D fees. Instead of gop leaders making the argument for more regulations and laws it's the same bullshit from them. They know their low iq base gets excited by culture war garbage. Maga needs to realize the problem with society is corporate America and not your fellow Americans. They're too damn brainwashed to open their eyes.
Que? I didnt say it wasn't Trumps fault. I simply said if politicians and the industry was that concerned about it, Biden administration could have pushed it back. I dont understand why you are so defensive about this geriatric man. Unhinged.
This is a message board why would I be angry? You read my posts the wrong way. It drives me insane that gop leaders always blame culture war garbage instead of blaming the crooked execs taking massive bets. Same story over and over.
Again biden DID push for it when he nominated Sara bloom raskin to be fed supervisory chair. She was rejected by the senate as wall street has bought out dems too sadly. The point is the law was already on the books and its hard as hell to get a law back on the books cuz of dark money. The point is the law should never have been reversed fo begin with. Breaking news democrats are corrupt as well.
I would say in this case, it wasn't even that much of a "massive bet", it was just extreme stupidity. The execs who sold off in the last two weeks should definitely be scrutinized.
Go look at the senate vote for the 2018 deregulation law and you'll see who's corrupt and who's not. I don't kiss ass for corrupt politicians. Trumps deregulation caused this. Deregulation has indirect consequences. You have ceos who feel entitled now that there's less regulators and take more riskier gambles. To blame biden for somehow not being able to pass dodd frank 2.0 with a 50/50 senate is bs and shows how disingenuous your point is. It's always bullshit with you.
If biden goes ahead with this he's a ****ing idiot and getting played by wall street. This will be a huge stain on his presidency. Hope this isnt true NO BAILOUTS NONE
Woke321 is jealous that a real rockets fan started this real thread @AroundTheWorld Debs second account is lin only fan to the max
