Nope, it's a woke diversity hire who had zero business being in that position
OT: Stock and Investment Talk
- Thread starter RU-05
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Greed and incompetence plagues the financial industry at virtually every level. People seem to think Wall Street and the Banking industry are entirely made up of Wharton and MBA grads. Not even close. Some of the dumbest people I know work on Wall Street starting their careers in sales, smiling and dialing selling senior citizens financial products they don’t need. The whole industry is a mess but have their claws in the politicians so it will never change.
I hate to respond for Pinehurst, but can’t help but call out that the political angle you’re bringing here is the opposite of nuanced.
Ahh, ok. The uninsured can have their losses fully covered because the insurer is flush with cash. Now tell that to the property owners in SW Florida who got wiped out by Ian and did not hold a flood insurance policy.Sounds pretty straightforward:
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans
The funds to reimburse depositors will be paid out of the Deposit Insurance Fund, which is made up of quarterly fees assessed on financial institutions.www.cnbc.com
WASHINGTON — Plans announced Sunday to fully reimburse deposits made in the collapsed Silicon Valley Bank and the shuttered Signature Bank will rely on Wall Street and large financial institutions — not taxpayers — to foot the bill, Treasury officials said.
“For the banks that were put into receivership, the FDIC will use funds from the Deposit Insurance Fund to ensure that all of its depositors are made whole,” said a senior Treasury Department official, who spoke to reporters Sunday about the plan on the condition of anonymity.
“The Deposit Insurance Fund is bearing the risk,” the official emphasized. “This is not funds from the taxpayer.”
The Deposit Insurance Fund is part of the FDIC and funded by quarterly fees assessed on FDIC-insured financial institutions, as well as interest on funds invested in government bonds.
The DIF currently has over $100 billion in it, a sum the Treasury official said was “more than fully sufficient” to cover SVB and Signature depositors.
The Biden administration is deeply aware of the public anger sparked by taxpayer-funded bailouts of major Wall Street banks during the 2008 financial crisis, and using the DIF to shore up depositors is seen as a way to avoid repeating the same process.
To that end, federal officials strongly pushed back on the idea that the plans for SVB and Signature constituted a “bailout.”
“The banks’ equity and bond holders are being wiped out,” said the official at Treasury. “They took a risk as owners of the securities, they will take the losses.”
I'm disengaging. That argument and whole "woke" narrative does nothing to advance the purpose and value of this thread. Just keep politics out of it.
It's not even that as much as his head in the sand ignoring the politics behind it all. It matters, always has always will. It the epitome of ignorance to ignore while assessment of mkt conditions
Every house on the street has a political actions and consequences review
Does that property insurer participate in the NFIP? I don't think what you say means what you think it does.
"Triggered"? LOL. Couldn't resist. Don't make the discussion personal, sport. Ad hominem attacks are a sign of weakness. In any case, let's move passed this and stick to a discussion with a purpose and offering value. We've lost a number of quality posters. Hate to lose more.
Bull Steepeners have 2yr down to 4 pre-market...
you can still lock in some 18-24 mos. non-callable CDs at 5.25-5.4 for you low risk guys (just keep it under FDIC insured levels ;)
you can still lock in some 18-24 mos. non-callable CDs at 5.25-5.4 for you low risk guys (just keep it under FDIC insured levels ;)
the market will trade in crazy ranges........
but, the actuall FF rates ain't dropping...........
the internettis out west are trying to make a run on the banks.... but it'll be fine...
Putting money in financials is an anathema to me after the crash. It's the one time I was burned bad and it's almost a no touch for me, even for the big ones and despite strict regulations on some of them. I don't trust that they know what's going on inside their own companies. There's only one Jamie Dimon and the rest eh. When JPM loses Jamie Dimon, I probably wouldn't think much of them either.
V/MA, those are the kind of financials I like and always willing to buy when they're at a good price. No credit risk, no capital ratios etc..and john q public won't stop using them any time soon.
Capital One's 5% 11-mo CD offer expires tomorrow. That's an easy way to lock in some yield.
I'm skeptical but we'll see. If the Fed is backstopping everything do they need to cut? Slowing or pausing, I can see as plausible but cuts? It would be surprising imo.
I own plenty of financials via index and active funds/etfs, but never got into them for direct investing like tech and health care. They do seem to crash hard during bad times.
Well yea through funds sure but I meant as single stock trading/investing.
I’m getting almost 4.5% in my MM accounts which isn’t bad and keeps me nimble/liquid.
Covered FRC at 27. Shorted it Thursday at 96. Picked up small amount long at 27
All other shorts have come in about 20% more this morning. 8% trailing stops in.
I told you guys about CNOB over the weekend. Was able to short 500@ 20.25 at the open. Blue Horshoe hates CNOB. This bank is unstable
All other shorts have come in about 20% more this morning. 8% trailing stops in.
I told you guys about CNOB over the weekend. Was able to short 500@ 20.25 at the open. Blue Horshoe hates CNOB. This bank is unstable
Dude take your sh!t to the CE board. Keep this apolitical.
It only takes a look at the officers of SVB to see diversity was not driving who held the highest positions in the company
a high CPI would tank this market tomorrow with the growing drumbeat that FED may pause rate hike.
Stagflation is a motherfvcker to get out of….
Anyone jump on my CNOB short call?
To the bottom of the ocean!
Got stopped out on my long in FRC.
Lots of fear out there.
To the bottom of the ocean!
Got stopped out on my long in FRC.
Lots of fear out there.
Ain't going to be any stagflation with the jobs market and consumers so strong. Not gonna happen.
You really love this economy, don’t you?
You don’t seem to understand the implications of the rock and the hard place that the Fed is in.
That’s not an environment where equities will thrive.
Why do you want to screw up a perfectly good thread with this bullshit?
The Fed f'ed up and raised rates too high and too quickly. Inflation is going down nicely because the drivers of the inflation are over or improving.....lockdowns, supply chain disruptions, gov'ment overspending, global conflict, etc.
We are well into restricted territory even if the Fed was forced to cut a bit. Recent QT has had a big impact as well.
As for equities, the market has rallied hard whenever there has been even a sliver of good news. We will all be fine.
9 out of 12 of the officers were white males but it’s the lesbian in England at fault
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Covered most of my shorts with stop losses as the regionals have rallied a bit.
Massive chops in FRC and WAL. Good wins in EWBC, TCBI. Still short CVBF and CNOB. The fact that those two haven’t rallied may be telling.
Back to the day job. Anything big tomorrow?
Massive chops in FRC and WAL. Good wins in EWBC, TCBI. Still short CVBF and CNOB. The fact that those two haven’t rallied may be telling.
Back to the day job. Anything big tomorrow?
Should have never allowed females into the workforce. They’re bad at math and cause males to lose their concentration.
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