It's a bad look sure. But doesn't seem to be *that* out of ordinary.
Insider Trading Activity - BECKER GREGORY W
BECKER GREGORY W sec form 4 filings insider trading, insiders stock buying and selling.www.secform4.com
Bigly
everything he does turns to shit doesn't it?
Oh hey the best argument against deregulation ever:
everything he does turns to shit doesn't it?
It’s the end of the economy which will usher in a 1000 year reich held by Trump and the GOP. You know a standard Saturday.Explain it to me like I'm 5 years old ...in the grand scheme of things, how worrying is this for the economy as a whole?
This. I was peripherally involved in a FDIC liquidation once. The ground troops they send in are top-notch, smart and decisive. The difference between a FDIC managed bank liquidation and the usual business collapse/bankruptcy is night and day.I love the FDIC.
Yes its per bank you have an account in, but not multiple accounts at the same bank, and different branches of the same bank count as the same bank.
However, I'm not so sure the banking system is as secure as they say. And treasury secretary Yellen did nothing to reassure the nation by stating "developments that concern a few banks I'm monitoring very carefully". Than implies more banks will be involved than just SVB.
And when a bank as large as SVB fails and people lose millions, that could easily create a domino effect. We really do not know how closely connected they really are, but we may find out come Monday. This is not just some national issue, this could rapidly become a global issue boomeranging back into a much larger national issue.
For what it's worth, I'm reminded of this movie scene. The financial institutions denied what was happening right up to the point when it actually happened.
Yeah, this could have likely been avoided if certain Dodd-Frank regs hadn't been rolled back.
small audience of very high networth individuals and companies suddenly doing a run on them
Something like 470 banks failed due to the 2008 financial crisis so monitoring a 'few' banks is pretty minimal in the grand scheme of things. I mean, sure SVB is big in terms of assets impacted but it was hit by a likely relatively uncommon interest rate + tech sector pinch. Not that we won't see pressure elsewhere but there isn't yet a systemic threat to the banking system as a whole.
With their assets largely tied up in stable, long term duration assets it probably (hopefully) won't take too much to make their customers whole or close to whole. A bank can come in - cover short term demands and, eventually, recoup or even make gains when those long term assets reach maturity.
I'm not sure if that is true. There wasn't anything inherently wrong (in terms of regulations) that I've seen reported yet in their operations. Their customers were unique (Tech startups) + the rapidly increasing interest rates hitting their long term asset holdings + tech sector downturn + small audience of very high networth individuals and companies suddenly doing a run on them. Yes they had a duration mismatch but I don't think Dodd-Frank would have covered this combination of events
The question is why would you want that much money sitting in a bank account yielding basically nothing?I've been trying to get the true answer on this for a while. My understating is $250k/person per account type and $1m per institution. There are a few account categories that would apply to us normal folk. One is Single ownership, Other is Joint ownership
You can use the FDIC calculator to verify what coverage you have https://edie.fdic.gov/calculator.html
I did $275k in a single acct and $570k in a joint acct. $250 was covered from single and $500 from joint ($250 per owner)
I hate to say this but the Q's have been predicting this for years now. The FDIC will collapse (they claim) along with the IRS, and a new financial system will emerge with new currency to be called the rainbow currency. Rainbow? Better check with Ron DeSantis first...
View attachment 77972
Just a little Q humor.
However, I'm not so sure the banking system is as secure as they say. And treasury secretary Yellen did nothing to reassure the nation by stating "developments that concern a few banks I'm monitoring very carefully". Than implies more banks will be involved than just SVB.
And when a bank as large as SVB fails and people lose millions, that could easily create a domino effect. We really do not know how closely connected they really are, but we may find out come Monday. This is not just some national issue, this could rapidly become a global issue boomeranging back into a much larger national issue.
For what it's worth, I'm reminded of this movie scene. The financial institutions denied what was happening right up to the point when it actually happened.
The question is why would you want that much money sitting in a bank account yielding basically nothing?