|
03-10-2023, 02:43 PM | #13366 |
MVP
Join Date: Oct 2012
Location: Lenexa, KS
|
They will cover $250k, but only about $20B of their $170B is insured/protected. The company was scrambling to pull their money out, but $50M might be just gone.
Last edited by BigBeauford; 03-10-2023 at 07:58 PM.. |
Posts: 14,404
|
03-10-2023, 03:02 PM | #13367 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
|
Quote:
That is MUCH more than I have uncovered. That makes me want to puke just thinking about it. And I can’t wrap my head around 50B. ****. |
|
Posts: 57,698
|
03-10-2023, 03:07 PM | #13368 |
MVP
Join Date: Jan 2007
Location: Missouri
|
This was the 16th largest bank in the country?
Is that right? Holy shit. |
Posts: 8,641
|
03-10-2023, 03:26 PM | #13369 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
|
|
Posts: 35,052
|
03-10-2023, 03:33 PM | #13370 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
|
Quote:
Regardless, HOPEFULLY they didn't tank so quickly that their assets are dramatically lower than deposits. That article says they had about $209B in assets vs. $175B in deposits as of December, so presumably people won't lose their asses TOO badly once everything gets liquidated and distributed. Could be messy during that process, though. |
|
Posts: 52,325
|
03-10-2023, 03:36 PM | #13371 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
|
Quote:
|
|
Posts: 57,698
|
1 0 |
03-10-2023, 03:38 PM | #13372 | |
MVP
Join Date: Oct 2012
Location: Lenexa, KS
|
Quote:
|
|
Posts: 14,404
|
03-10-2023, 03:40 PM | #13373 |
In Search of a Life
Join Date: Nov 2018
|
SVB is the second biggest collapse in US History with 203 Billion in assets gone.
|
Posts: 21,606
|
03-10-2023, 03:41 PM | #13374 |
In Search of a Life
Join Date: Nov 2018
|
They had to raise 2.25 billion to shore up their balance sheet but no investor was willing to help. Banks make money off of interest rates. If interest rates are high, people don’t wanna take out loans and therefore banks don’t make money
|
Posts: 21,606
|
03-10-2023, 03:41 PM | #13375 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
|
|
Posts: 57,698
|
03-10-2023, 03:42 PM | #13376 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
|
|
Posts: 35,052
|
03-10-2023, 03:43 PM | #13377 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
|
|
Posts: 52,325
|
03-10-2023, 03:43 PM | #13378 |
MVP
Join Date: Oct 2012
Location: Lenexa, KS
|
|
Posts: 14,404
|
03-10-2023, 03:44 PM | #13379 |
MVP
Join Date: Oct 2012
Location: Lenexa, KS
|
|
Posts: 14,404
|
03-10-2023, 03:52 PM | #13380 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
|
Quote:
I think. Still ****ing bad. Jesus. I’m getting the shakes just thinking about losing the miniscual amount I have uncovered. |
|
Posts: 57,698
|
|
|