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BIG BADA BOOM

10 Mar 2023 11:33 #1 by homeagain
BIG BADA BOOM was created by homeagain
www.washingtonpost.com/technology/2023/0...-valley-bank-shares/

Regulators closed Silicon Valley Bank on Friday and the federal government stepped in to take it over after a run on its funds by start-ups — marking the largest bank failure in the country since the economic recession more than a decade ago.

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10 Mar 2023 11:53 #2 by FredHayek
Replied by FredHayek on topic BIG BADA BOOM
Banks are in trouble. They have got trillions of dollars worth of mortgages out at 3%, but new CD's are paying more than that.
Thomas Sowell: There are no solutions, just trade-offs.

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10 Mar 2023 12:56 - 10 Mar 2023 12:57 #3 by FredHayek
Replied by FredHayek on topic BIG BADA BOOM
Second biggest bank failure in history!
Thomas Sowell: There are no solutions, just trade-offs.
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10 Mar 2023 13:04 #4 by Rick
Replied by Rick on topic BIG BADA BOOM
Hey, Biden just said today that the economy is recovering nicely, so nothing to worry about. But seriously, he's never been right about anything so I'm ramping up my long term food storage and buying more stuff they plan on banning.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.

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10 Mar 2023 22:21 #5 by FredHayek
Replied by FredHayek on topic BIG BADA BOOM
A good explanation.
Thomas Sowell: There are no solutions, just trade-offs.
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12 Mar 2023 18:44 #6 by FredHayek
Replied by FredHayek on topic BIG BADA BOOM

Another bank fails. Last week Yellen said the US wouldn't repay deposits over 250K. Now this document is created on the weekend to calm investors.

Wall Street futures are climbing upon the news so it is a timely press release.


Wonder if Hollywood cares more about the Oscar's tonight or their personal finances?
Thomas Sowell: There are no solutions, just trade-offs.
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13 Mar 2023 08:47 - 13 Mar 2023 08:48 #7 by FredHayek
Replied by FredHayek on topic BIG BADA BOOM
Love a government that wants to keep citizens in the dark. "For their own good."
Thomas Sowell: There are no solutions, just trade-offs.
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13 Mar 2023 10:26 #8 by ramage
Replied by ramage on topic BIG BADA BOOM
"Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money."

If it looks like a bailout, quacks like a bailout.....

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13 Mar 2023 14:47 #9 by FredHayek
Replied by FredHayek on topic BIG BADA BOOM
Powell is standing firm and has declared the Fed will continue to increase interest rates. How are banks going to compete with high yield government bonds?
Thomas Sowell: There are no solutions, just trade-offs.

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