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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Investing megathread extravaganza

A place to talk about investing stuff.

Last edited by DaFace; 02-19-2021 at 06:35 PM..
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Old 03-10-2023, 03:33 PM   #13276
DaFace DaFace is offline
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Originally Posted by BigBeauford View Post
They will cover $250k, but only about $20B of their $170B is insured/protected. The company was scrambling to pull their money out, but $50B might be just gone.
I'm a little confused here - are you talking about the bank or your friend's company? The bank itself only had about $175B in deposits.

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.
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Old 03-10-2023, 03:36 PM   #13277
Buehler445 Buehler445 is offline
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I'm a little confused here - are you talking about the bank or your friend's company? The bank itself only had about $175B in deposits.

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.
Ultimately, hopefully another bank can take over the assets and liabilities with minimal exposure to clients. But that does very little in terms of meeting cash flow requirements for a business
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Old 03-10-2023, 03:38 PM   #13278
BigBeauford BigBeauford is offline
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I'm a little confused here - are you talking about the bank or your friend's company? The bank itself only had about $175B in deposits.

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.
No, talking about the friend's company. Their CFO was there at the 11th hour trying to pull all their money out.
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Old 03-10-2023, 03:40 PM   #13279
VAGOMO 4 LIFE! VAGOMO 4 LIFE! is offline
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SVB is the second biggest collapse in US History with 203 Billion in assets gone.
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Old 03-10-2023, 03:41 PM   #13280
VAGOMO 4 LIFE! VAGOMO 4 LIFE! is offline
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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
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Old 03-10-2023, 03:41 PM   #13281
Buehler445 Buehler445 is offline
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No, talking about the friend's company. Their CFO was there at the 11th hour trying to pull all their money out.
So your friends company had 50B on deposit there?
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Old 03-10-2023, 03:42 PM   #13282
KCUnited KCUnited is offline
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Originally Posted by MAHOMO 4 LIFE! View Post
SVB is the second biggest collapse in US History with 203 Billion in assets gone.
Sounds like 25% of that was one startup
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Old 03-10-2023, 03:43 PM   #13283
DaFace DaFace is offline
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Originally Posted by MAHOMO 4 LIFE! View Post
SVB is the second biggest collapse in US History with 203 Billion in assets gone.
Again, they're not all gone. There's a big difference between "we can't pay our creditors" and "we literally have no money."
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Old 03-10-2023, 03:43 PM   #13284
BigBeauford BigBeauford is offline
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Old 03-10-2023, 03:44 PM   #13285
BigBeauford BigBeauford is offline
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So your friends company had 50B on deposit there?
Something along those lines. Smaller Aerospace company based out of Colorado.
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Old 03-10-2023, 03:52 PM   #13286
Buehler445 Buehler445 is offline
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So 250K if the deposits would be covered. So the 97.3% is the percentage of deposits not fully insured, not 97.3% of total deposited funds are not insured.

I think.

Still ****ing bad.

Jesus. I’m getting the shakes just thinking about losing the miniscual amount I have uncovered.
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Old 03-10-2023, 03:53 PM   #13287
DaFace DaFace is offline
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Something along those lines. Smaller Aerospace company based out of Colorado.
I suspect you're hearing some hyperbolic numbers here. Lockheed Martin only has ~$50B in assets, and they're not exactly a "small startup."
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Old 03-10-2023, 03:58 PM   #13288
BigBeauford BigBeauford is offline
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I suspect you're hearing some hyperbolic numbers here. Lockheed Martin only has ~$50B in assets, and they're not exactly a "small startup."
Christ, I've been saying Billion, it's million not billion. Sorry for the accidental hyperbole.
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Old 03-10-2023, 04:00 PM   #13289
DaFace DaFace is offline
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Christ, I've been saying Billion, it's million not billion. Sorry for the accidental hyperbole.
Ha! OK. That makes far more sense.
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Old 03-10-2023, 04:03 PM   #13290
BigBeauford BigBeauford is offline
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Ha! OK. That makes far more sense.
Yeah and that's honestly way worse. That means way more companies are going to get ****ed.
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