2nd and 3rd biggest bankfailures ever after the 2008 crash

[Gadhwayne]

Every member of congress went to a closed door meeting with executive department financial experts after the 2 bank runs

First Republic drops 60%, leads decline in bank stocks despite government's backstop of SVB

First Republic Bank led a decline in bank shares Monday that came even after regulators' extraordinary actions Sunday evening.

www.cnbc.com

Goldman Sachs predicts that the fed will stop raising interest rates

SVB's rescue means the Fed won't hike rates in March, says Goldman Sachs

One casualty of regulators rescuing SVB depositors? There will be no March rate hike, says Goldman Sachs.

www.marketwatch.com

The democrats are in a deep hole for 2024 their best hope might actually be for Joe Biden to run and then lose the primary to to an anti Biden candidate who can say he/she has nothing to do with what happened and then run against @AbdiFreedom candidate Trump and the best chance for Republicans might be a totally new guy or maybe run Trump again and blame Fauci/democrats on what he called the kung flu for everything

 

[El Nino]

What do you think will happen in the coming days/ bear future? Are we heading to a new worldwide recession

 

[AbrahamFreedom]

No bailouts!

 

[El Nino]

No bailouts!

Why?

 

[AbrahamFreedom]

Why?

So many reasons. It wont increase loanings, it encourages banks to be as risky as possible because they know they'll be saved by taxpayer dollars if shit hits the fan, governments/taxpayers never get part ownership. Absolutely not. This is capitalism baby. There must be hurt and pain for the losers. I have 3 banks for life in which my savings are spread so that if anything happens, by law the government must give me my money at a maximum of $100K per bank. I don't care about my ETF investments in the short term because its long-term for me. I don't need the money now but 20 years from now. Let the recession happen. I want a big recession when they can't cut interest rates. That is my dream.

 

[Gadhwayne]

So many reasons. It wont increase loanings, it encourages banks to be as risky as possible because they know they'll be saved by taxpayer dollars if shit hits the fan, governments/taxpayers never get part ownership. Absolutely not. This is capitalism baby. There must be hurt and pain for the losers. I have 3 banks for life in which my savings are spread so that if anything happens, by law the government must give me my money at a maximum of $100K per bank. I don't care about my ETF investments in the short term because its long-term for me. I don't need the money now but 20 years from now. Let the recession happen. I want a big recession when they can't cut interest rates. That is my dream.

I think there will be bailouts and the bailouts will be bipartisan which is why it would help both the democrats and the republicans if they nominate a new guy who presents himself as anti establishment anti bailout but Trump might be able to pull it out because he can change the debate from economic philosophy to nationalism he can support the bailouts and blame the crash on China somehow and say China owns the democrats the crash was due to china who also caused covid. I would like to see the showdown between your hardcore freemarketeer no bailout libertarians against hard left Bernicrats but they have to beat Trump/Biden first and both Trump/Biden have the strongest base in southern white/black protestants during the primaries

 

[AbrahamFreedom]

I think there will be bailouts and the bailouts will be bipartisan which is why it would help both the democrats and the republicans if they nominate a new guy who presents himself as anti establishment anti bailout but Trump might be able to pull it out because he can change the debate from economic philosophy to nationalism he can support the bailouts and blame the crash on China somehow and say China owns the democrats the crash was due to china who also caused covid. I would like to see the showdown between your hardcore freemarketeer no bailout libertarians against hard left Bernicrats but they have to beat Trump/Biden first

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Trump has been a big disappointment. I withdrew my support for him in 2017 when I realized he was not going to be tough enough on China and immigration from shithole countries from the east. We are now seeing the effect in my country with 40,000 illegals pouring across the border just last year.

I don't think they can do bailouts this time even if they blame China. The mood and thinking has shifted. There will be considerable pushback from the vocal plebs. 2020-2030 is going to be a very interesting decade.

 

[AbrahamFreedom]

I am looking forward to the huge cuts in government benefits and entitlement programs for the lazy and entitled who should have just died off in my opinion. Finally, we are going to have responsible spending respect to hardworking taxpayers.

 

[Keep it a boqol]

I am looking forward to the huge cuts in government benefits and entitlement programs for the lazy and entitled who should have just died off in my opinion. Finally, we are going to have responsible spending respect to hardworking taxpayers.

The older I get the more conservative I am becoming… AF you were right

 

[Gadhwayne]

Financial industry is full of people who think theyre smarter than rivals/regulators/legislators. The feds thought they could contain SVB fallout and SVB think theyre outsmarting the fed or rival banks

Before Collapse of Silicon Valley Bank, the Fed Spotted Big Problems (Published 2023)

The bank was using an incorrect model as it assessed its own risks amid rising interest rates, and spent much of 2022 under a supervisory review.

www.nytimes.com

Now 200 banks could be in troulbe

Almost 200 US Banks Are at Risk of Silicon Valley Bank-Like Collapse: Study

www.theepochtimes.com

Trump has been a big disappointment. I withdrew my support for him in 2017 when I realized he was not going to be tough enough on China and immigration from shithole countries from the east. We are now seeing the effect in my country with 40,000 illegals pouring across the border just last year.

I don't think they can do bailouts this time even if they blame China. The mood and thinking has shifted. There will be considerable pushback from the vocal plebs. 2020-2030 is going to be a very interesting decade.

The current level of immigration from the southern border might be permanent. American laws require the government to give process anyone with asylum claim and credible fear. Getting Mexico to be on par with USA/Canada is the solution to asylum seekers turning themselves in to. This cannot change without a supermajority in the Senate The easiest fix is to fix the corruption dragging down the Mexican economy and then Mexico cracking down on Central Americans but that still wont solve other foreigners flying into Mexico and then seeking asylum in Mexico unless the American/Canadian asylum agreements are extended to Mexico i.e. asylum seekers have to seek asylum in Mexico first if they enter Mexico first but this hypothetical first world Mexico would have a US/Canada level economy so those Central Americans might actually prefer Mexico if Mexico had a less corrupt/corporatist economy

The older I get the more conservative I am becoming… AF you were right

Im agnostic on economic philosophies as long as youre consistent. Bailouts violate theories/ethics of both the socialistic egalitarianism and rugged free market competition but they may be necessary Im not sure either way but as long as they can come up with a consistent economic theory for bailouts I have no problem with it

 

[Aurelian]

Those who run these banks should be locked for a long time. This has nothing to do with Dem or GOP, it just CEOs avoiding regulation then fucking up everything.