We’re old. People didn’t go to pre schoolIt’s up 36% for the week. Maybe the Texan knows a little more than you? I assume he always had better grades in preschool🤣
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We’re old. People didn’t go to pre schoolIt’s up 36% for the week. Maybe the Texan knows a little more than you? I assume he always had better grades in preschool🤣
We’re old. People didn’t go to pre school
I think what the Grumpy Economist was trying to get across is that you don't need Dodd Frank (which requires more stress tests and focusing on exotic or extreme investments) to figure this out. Any competent regulator should have been able to see this in 5 minutes of review of the investments.As Sope pointed out...
The bill, called the Secure Viable Banking Act, would put banks with at least $50 billion in assets back under strict Federal Reserve oversight and Dodd-Frank Act stress tests. A bipartisan 2018 bill to loosen Dodd-Frank raised that threshold to $250 billion, which exempted Silicon Valley Bank and dozens of other banks from the strictest federal oversight.
Warren, Porter unveil bill to undo Trump-era Dodd-Frank rollback after Silicon Valley Bank collapse
Sen. Elizabeth Warren (D-Mass.) and Rep. Katie Porter (D-Calif.) have introduced a bill to repeal part of a Trump-era bank regulation rollback law in the wake of the collapse of Silicon Valley Bank…thehill.com
Here's the Top 20. notice #15 and #16
20 Largest Banks in the U.S.
Looking for a list of the largest in the U.S.? We've compiled the biggest banks by assets along with other key metrics.www.moneycrashers.com
Particular actions--like stealing a client's money--would count as breaches of fiduciary duty and crimes. But a breach of fiduciary duty, in and of itself, is a matter of civil law not criminal law.Can't financial advisors go to jail for not performing their fiduciary responsibilities?
What's the difference?
He will get hit with a civil case. The odds of him personally paying any money, though, are small. Not impossible, but very unusual. Maybe pay back his bonus if the feds go after a clawback of those?It's not, but it is illegal to inaccurately mistate the operating condition of your business, all while profiteering with inside information ahead of a collapse of epic proportions.
Greg is a blackeye for Kelley and Indiana as far as I'm concerned and I hope he gets hit with civil and possibly criminal cases.
This is the kind of thing that creates resentment in the working class that I was referring to early in this thread.
Everyone should resent it. Essentially, a few unelected people get to decide who fails and who doesn’t over a weekend. It’s anti-American.This is the kind of thing that creates resentment in the working class that I was referring to early in this thread.
This is not good.
it's not personal. it's just businessEveryone should resent it. Essentially, a few unelected people get to decide who fails and who doesn’t over a weekend. It’s anti-American.
it's not personal. it's just business
Remember, every bank is regulated. I'm guessing SVB was regulated by the Fed and the OCC or some state regulators. We need to figure out why these people didn't do their jobs.
Did I say that? Where?
What I said was that somebody screwed up really badly and ought to go to jail. Here's what I said, in pertinent part:
. . . in that case, someone ought to be looking at jail time. Either the banker or the company keeping payroll monies in an underinsured, at risk account.
I still think that. Neither the banker nor the company keeping payroll monies in an at risk account is a fiduciary. Why not? Seems to me that they ought to have fiduciary obligations with respect to depositors. They're looking for someplace safe to park their money . . . that's the reason they put it in a bank.
Bald and proud here. I started shaving my head when I still had a pretty good head of hair. Made me look a little leaner and meaner and I’ve kept with it. Now I couldn’t grow a full head if hair anyway.Speak for yourself, baldy.
Uhhh . . . not that I know of.As I recall you had a mole within the banking industry during the 2008 banking crisis in the form of a friendly female employee at a Wells Fargo bank.
At least you've got your priorities straight.I'm too drunk after watching such a great evening of basketball to write my own post, so here is this..
Interest Rate Swap: Definition, Types, and Real-World Example
An interest rate swap is a forward contract in which one stream of future interest payments is exchanged for another based on a specified principal amount.www.investopedia.com
Ennhhh . . . I see things a bit differently. I think what Yellen was saying was that unless there's systemic risk to the system, we're on our own for accounts over $250,000.
Ennhhh . . . I see things a bit differently. I think what Yellen was saying was that unless there's systemic risk to the system, we're on our own for accounts over $250,000.
I wouldn't touch bank stocks today because if there's systemic risk then the whole economy is dependent upon the government backing up the system . . . and I don't have enough confidence in the government being able to borrow enough to cover whatever bailout of the systemic risk is needed.
Might be time to consider hiding dollars, euros and Yuan, if not gold, silver or copper, under the mattress.
Cue an advertisement for crypto in 3, 2, 1 . . .Ennhhh . . . I see things a bit differently. I think what Yellen was saying was that unless there's systemic risk to the system, we're on our own for accounts over $250,000.
I wouldn't touch bank stocks today because if there's systemic risk then the whole economy is dependent upon the government backing up the system . . . and I don't have enough confidence in the government being able to borrow enough to cover whatever bailout of the systemic risk is needed.
Might be time to consider hiding dollars, euros and Yuan, if not gold, silver or copper, under the mattress.
, , , from Snarlcakes . . . .Cue an advertisement for crypto in 3, 2, 1 . . .
Here's my question about crypto . . . where is the electricity going to come from to access those ducats when all goes to hell in a hand basket?Cue an advertisement for crypto in 3, 2, 1 . . .
The banking system and FED are not capitalism.the whole system IS dependent on govt backing it up.
we could ask the banks to do due diligence to back itself up, but that would be burdensome over regulation to the "free market" crowd.
so one can either be for necessary regulation and mandatory bank funded insurance, or for the govt/taxpayer backing it up.
capitalism will always want the govt/taxpayer backing it up, and the capitalists keeping all the profits for themselves.
it's not personal. just business.
Why does everything have to go to hell in a hand basket? There isn’t a roadmap for any of this. It’s literally never happened in human history.Here's my question about crypto . . . where is the electricity going to come from to access those ducats when all goes to hell in a hand basket?
No shit. We could just as easily go in a wheelbarrow.Why does everything have to go to hell in a hand basket? There isn’t a roadmap for any of this. It’s literally never happened in human history.
OK, if things go to hell in a wheelbarrow, where does the electricity come from?Why does everything have to go to hell in a hand basket? There isn’t a roadmap for any of this. It’s literally never happened in human history.
The network would start working again when electricity came back on. I’d be less concerned with a Mad Max scenario and more worried about being diversified to protect against a debt spiral in the U.S.OK, if things go to hell in a wheelbarrow, where does the electricity come from?
That's what I'd like to know.
The banking system and FED are not capitalism.
The FED is a centralized institution that sets fiscal policy. It’s not the free market. What do you think it is?in what make believe reality is that?
what planet have you been living on?
The FED is a centralized institution that sets fiscal policy. It’s not the free market. What do you think it is?
As a child were your only bedtime stories written by Karl Marx and Robert Reich? Also, the next time you answer a direct question, it will be your first.you need to pay less attention to what the Fed was set up to do, and more on what it now does, who it now serves and only serves, and has for well over a decade.
and if you think the banks aren't capitalism, then you have no business discussing anything economic. (which you apparently don't).
and today's big banks don't operate anything like Bailey Building and Loan.
more like casinos, con artists, and criminal organizations, with zero rules or morals or ethics or self control or needed oversight.
but then it isn't personal. just business.
that said, for all the benefits of capitalism, capitalism is like nuclear energy.
if not closely regulated and monitored 100% of the time, it will always melt down by it's own doing and always has melted down by it's own doing, and always has to be bailed out by socialism, which capitalism can't ever survive on it's own without.
just as socialism can't effectively survive absent being partnered with capitalism.
The FED is a centralized institution that sets fiscal policy.
To be fair, that sentence you wrote was incredibly stupid.You’re such a f#cking dork. I’ve never cared what you thought.
No, it wasn’t and you’re clueless. My only annoyance with his post, similar to my wife, is he tells me about once a month I’m an idiot. I’ll take it from her but she looks good naked. Can’t say the same for JDB.To be fair, that sentence you wrote was incredibly stupid.
Really. You think the Fed sets fiscal policy.No, it wasn’t and you’re clueless. My only annoyance with his post, similar to my wife, is he tells me about once a month I’m an idiot. I’ll take it from her but she looks good naked. Can’t say the same for JDB.
What do you think I meant? Do I really have to say monetary policy? JDB was being a dork.Really. You think the Fed sets fiscal policy.
Yes, you do, because if you can't tell the difference between the two, you look like an idiot. And this is coming from the guy who spent this entire thread saying, "I don't understand this, can you explain it to me?"What do you think I meant? Do I really have to say monetary policy? JDB was being a dork and he looks terrible nude.
Well he does have like 40 kids, so there’s that.Can’t say the same for JDB.
What do you think I meant? Do I really have to say monetary policy? JDB was being a dork.