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You Can Bank on it: A Cheat Sheet on the
SVB Collapse

Original Article

Posted By: Hazymac, 3/19/2023 7:15:33 AM

This week, a lot of attention has been focused on the collapse of the Silicon Valley Bank. It is, in fact, a story of faulty accounting practices, poor government oversight, and the effects of government micromanaging markets at the same time that it fails in its oversight responsibilities. And you will be paying for it. Accounting Shenanigans Over at the Wall Street Journal, William L. Silber explains this better than anyone, and in terms anyone who ever purchased a government bond can understand. They are safe. The problem is liquidity: "SVB held tens of billions of dollars in long-term government bonds. On its face, this may seem like

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Reply 1 - Posted by: EJKrausJr 3/19/2023 8:11:45 AM (No. 1428487)
Joey Baby says don't worry, the bailouts wont cost you a dime. Yeah right. The Feds will increase the fees they charge the banks for keeping the FDIC solvent. Guess what folks, those fees are passed on to the consumer, the depositors and the loaners. Yellen has said only the banks to big to fail will get bailouts. So what about the smaller regional banks that do banking correctly? When they start to fail because of depositor lack of confidence, what then Janet? BTW the gigantic bailouts for SVB, etal require printing money. More inflation is on the way. Way to go Hoover.
11 people like this.

Reply 2 - Posted by: Mcscow sailor 3/19/2023 9:58:50 AM (No. 1428569)
Cheat sheet for the cheat sheet. The gov primed the pump for Solyndra-type loans, SVB made interest hay on risky loans that they overvalued, SVB mismanaged its fed bond program, SVB’s board was way past incompetent, the bank’s auditors failed in their duty, the fed oversight failed…and Average Joe has to pick up the tab with his gov deflated dollars. //// I could propose some draconian measures for those who bear responsibility.
8 people like this.

Reply 3 - Posted by: Rumblehog 3/19/2023 10:17:14 AM (No. 1428578)
Criminalization of the Federal Reserve and banking rules continues. Thanks to George W. Bush during the sub-prime lending crisis (genesis of the "Tea Party"), the left has now been liberalized to include banks who have acted on command from the leftist climate goons in government. Using the American taxpayer to "hold the bag" after the bank robbery has occurred is disgusting and IMO many at the top of these crimes need to face firing squads after conviction.
7 people like this.

Reply 4 - Posted by: privateer 3/19/2023 10:25:42 AM (No. 1428584)
Now innocent American taxpayers are forced to pick up the tab for what amounts to criminal theft under color of authority. Using the premise of so-called investment funding in various Green Scam entities, billions were stolen. VSB was probably in it from the get-go. That's how their higher ups cashed out before the Deluge. Well connected Commiecrats, celebrities and billionaires will be made whole by....John Q. Public. This is fascist larceny.
7 people like this.

Reply 5 - Posted by: FL_Absentee_Voter 3/19/2023 11:08:19 AM (No. 1428632)
Newsom is among the >$250K depositors who are getting bailed out by the taxpayers. We need to see a list of the others. If we're footing the bill we're owed that.
5 people like this.

Reply 6 - Posted by: davew 3/19/2023 1:06:50 PM (No. 1428712)
Nothing SVB did was beyond basic "banking-101" rules and certainly not criminal in any way. Their depositors withdrew cash to buy higher yielding assets, this lowered their required cash reserve margins, to raise cash and avoid regulatory intervention they sold long term bond assets at a loss, the losses undermined the confidence of their depositors that they were solvent, this started a self-fulfilling panic run on the bank, and regulators finally stepped in to stop the run by triggering FDIC insurance backstops and injecting cash. For the average Joe, this is just business as usual for stupid rich people. But there is a lesson in it for anyone with a bank account. When you deposit money in a bank account it is no longer your money. It becomes the bank's money to loan or invest as it wishes including buying Treasuries. If you don't like this arrangement, you can instead deposit your money in a brokerage account like Schwab or Fidelity. With a brokerage account your money is held by a custodian separate from Schwab and it stays your money. Schwab can't touch it. You invest your money in whatever you like such SIPC insured money market mutual funds or FDIC insured CDs. You do incur market risk, but your fate is not tied to a bank's business. Don't take my word for it.
1 person likes this.

Reply 7 - Posted by: beancounter 3/19/2023 3:01:07 PM (No. 1428798)
I think the first part is incorrect. First, accounting standards were changed a few years ago to include market value of investments as of the date of the financial statements. Second, it’s revenue or proceeds from sale, not income, when you sell it. The income is the proceeds less the previous recorded market value.
0 people like this.

Reply 8 - Posted by: real fifi 3/19/2023 3:10:01 PM (No. 1428808) Feds knew of the problems and warned them. Did nothing to stop this. Why?
0 people like this.

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