You mean the tax cuts for the rich Biden just extended? It's all smoke and mirrors.

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There's a nugget of truth to what SeldomRite is saying.  Trump's tax cut was ill timed.  It would have been better timed if they found a way to cut spending so the cut didn't end up being pure debt.  But it's not Congress's job to try to time the economic cycle, so I can't be too mad at them about that.  They had been wanting to do those tax cuts for 4 years with Obama blocking them.  They did what they could when they could do it.

And there's plenty of blame to go around.  The fuel for the recent inflation started building up under Bush 43, and neither 44 nor 45 were able to stop adding to the pile.

Don't worry, we already knew about you being a cultist, so you don't count.

I've been called worse by better.

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You mean the tax cuts for the rich Biden just extended? It's all smoke and mirrors.

I didn't say Biden did anything right in this area.

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My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

And I thought I was being nice lolol

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And I thought I was being nice lolol

I've also been called better by worse, if it makes you feel better.

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My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

Watching you guys argue is it Trump or Bidens fault kills me. The last four presidents have all held the same fiscal policy, just charge it. Whatever it was, war on terror just charge it. Healthcare reform, just charge it. COVID response just charge it. They take turns pretending to give a damn about fiscal responsibility when the other team has the charge card but nothing changes.

Democrats tax as much as Republicans. Republicans spend as much as Democrats. Hell the only difference between Trump and Obama fiscal policy is Obama used corporate tax to screw the average guy and Trump used import tariffs to screw the average guy. [BLEEP] em both

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Now the Treasury, Fed, and FDIC have announced that all deposits, both insured and uninsured, will be paid in full. 

I think that will probably tamp down the panic.

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I asked the question, now I have my answer.......

Signature Bank Closes After SVB Collapse

State regulators closed New York-based Signature Bank on Sunday, the third largest failure in U.S. banking history, two days after authorities shuttered Silicon Valley Bank in a collapse that stranded billions in deposits.

https://www.newsmax.com/finance/streetta...fdxadTS6cI

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Instead of a sign that says "Do Not Disturb" I need one that says "Already Disturbed Proceed With Caution."

Now the Treasury, Fed, and FDIC have announced that all deposits, both insured and uninsured, will be paid in full. 

I think that will probably tamp down the panic.

Really? Who is paying those deposits? With what money?

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“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

Now the Treasury, Fed, and FDIC have announced that all deposits, both insured and uninsured, will be paid in full. 

I think that will probably tamp down the panic.

Really? Who is paying those deposits? With what money?

According to Biden’s presser this morning, it will be from the fees banks pay into the FDIC.

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I’m hearing on the radio this bank had no risk officer for 9 months. When they did get a new one, she made loan decisions partly based on DEI criteria rather than just credit history. 

Also, apparently management got a big bonus just before it collapsed.

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Pretty good video..

https://twitter.com/profstonge/status/16...oKU5g&s=19

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I’m hearing on the radio this bank had no risk officer for 9 months. When they did get a new one, she made loan decisions partly based on DEI criteria rather than just credit history. 

Also, apparently management got a big bonus just before it collapsed.

They hired a woke risk officer who spent a lot of her time planning everything but risk management. They also invested and funded a lot of climate and other companies with no real strategy for generating profits.

On the other side of this, they weren't really risky. They just didn't have enough liquid assets. They had paper loses on some bonds but that also depends on evaluation method. The fed rate hikes made those short-term paper loses larger.

The real issue is that a lot of money was pulled out of the bank at once. That caused the run and they couldn't provide the cash.

I don't know if this was just some elites and companies moving money, a coordinated attack on the bank, or a broader plan. Any bank fails if too many people try to remove their money. With the feds backing all the deposits, this could be a preemptive action before the larger crash and all the hedge funds and elites getting their money before the rest of the banks fail and the rest of us lose as the feds run out of money. With the billions that were moved, something happened that we don't know about.

Sent from my SM-T970 using Tapatalk

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I’m hearing on the radio this bank had no risk officer for 9 months. When they did get a new one, she made loan decisions partly based on DEI criteria rather than just credit history. 

Also, apparently management got a big bonus just before it collapsed.

They hired a woke risk officer who spent a lot of her time planning everything but risk management. They also invested and funded a lot of climate and other companies with no real strategy for generating profits.

On the other side of this, they weren't really risky. They just didn't have enough liquid assets. They had paper loses on some bonds but that also depends on evaluation method. The fed rate hikes made those short-term paper loses larger.

The real issue is that a lot of money was pulled out of the bank at once. That caused the run and they couldn't provide the cash.

I don't know if this was just some elites and companies moving money, a coordinated attack on the bank, or a broader plan. Any bank fails if too many people try to remove their money. With the feds backing all the deposits, this could be a preemptive action before the larger crash and all the hedge funds and elites getting their money before the rest of the banks fail and the rest of us lose as the feds run out of money. With the billions that were moved, something happened that we don't know about.

Sent from my SM-T970 using Tapatalk

The feds do not "run out of money."  

I think the drain started with the economy slowing down and these tech startups which burn cash at an incredible rate drawing down the deposits they had, and since the bank had invested the money in bonds whose market values had been depressed by rising interest rates, they couldn't cover the withdrawals.

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Biden Economy? Should have just kept interest rates at 0% like the Trump Economy and have our housing prices and grocery store prices double.

here's a book you may want to read:  "The Purpose of the Federal Reserve for People that Randomly Post Idiotic Things"

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They hired a woke risk officer who spent a lot of her time planning everything but risk management. They also invested and funded a lot of climate and other companies with no real strategy for generating profits.

On the other side of this, they weren't really risky. They just didn't have enough liquid assets. They had paper loses on some bonds but that also depends on evaluation method. The fed rate hikes made those short-term paper loses larger.

The real issue is that a lot of money was pulled out of the bank at once. That caused the run and they couldn't provide the cash.

I don't know if this was just some elites and companies moving money, a coordinated attack on the bank, or a broader plan. Any bank fails if too many people try to remove their money. With the feds backing all the deposits, this could be a preemptive action before the larger crash and all the hedge funds and elites getting their money before the rest of the banks fail and the rest of us lose as the feds run out of money. With the billions that were moved, something happened that we don't know about.

Sent from my SM-T970 using Tapatalk

The feds do not "run out of money."  

I think the drain started with the economy slowing down and these tech startups which burn cash at an incredible rate drawing down the deposits they had, and since the bank had invested the money in bonds whose market values had been depressed by rising interest rates, they couldn't cover the withdrawals.

Bingo.  They had huge unrealized losses and eventually write downs on their treasury bonds, which are not sensitive to credit risk but are hugely sensitive to interest rate risk.  Eventually, to keep liquidity to keep up with these tech start ups drawing on their desposits, they had to realize those losses and [BLEEP] hit the fan.  

It looks like the insiders got out/partially got out and they tried to leave the regular depositors holding the bag.

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The feds do not "run out of money."  

I think the drain started with the economy slowing down and these tech startups which burn cash at an incredible rate drawing down the deposits they had, and since the bank had invested the money in bonds whose market values had been depressed by rising interest rates, they couldn't cover the withdrawals.

Bingo.  They had huge unrealized losses and eventually write downs on their treasury bonds, which are not sensitive to credit risk but are hugely sensitive to interest rate risk.  Eventually, to keep liquidity to keep up with these tech start ups drawing on their desposits, they had to realize those losses and [BLEEP] hit the fan.  

It looks like the insiders got out/partially got out and they tried to leave the regular depositors holding the bag.

If I make a mad dash for the exit, that doesn't mean I want to leave you in there.  It just means I want to get out.  

The tipoff was when the bank announced that they were going to sell some stock to raise capital.  I would think anyone who saw that announcement and had deposits that exceeded the insurance limits would be scrambling to protect themselves.

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They hired a woke risk officer who spent a lot of her time planning everything but risk management. They also invested and funded a lot of climate and other companies with no real strategy for generating profits.

On the other side of this, they weren't really risky. They just didn't have enough liquid assets. They had paper loses on some bonds but that also depends on evaluation method. The fed rate hikes made those short-term paper loses larger.

The real issue is that a lot of money was pulled out of the bank at once. That caused the run and they couldn't provide the cash.

I don't know if this was just some elites and companies moving money, a coordinated attack on the bank, or a broader plan. Any bank fails if too many people try to remove their money. With the feds backing all the deposits, this could be a preemptive action before the larger crash and all the hedge funds and elites getting their money before the rest of the banks fail and the rest of us lose as the feds run out of money. With the billions that were moved, something happened that we don't know about.

Sent from my SM-T970 using Tapatalk

The feds do not "run out of money."  

I think the drain started with the economy slowing down and these tech startups which burn cash at an incredible rate drawing down the deposits they had, and since the bank had invested the money in bonds whose market values had been depressed by rising interest rates, they couldn't cover the withdrawals.

The FDIC insurance is limited and doesn't have enough to fund every account to the limit. Now they just covered a ton more. If more banks start failing, the fund will not have enough money to cover everyone. The regular people will be left getting prorated amounts if too many fail.

Bingo.  They had huge unrealized losses and eventually write downs on their treasury bonds, which are not sensitive to credit risk but are hugely sensitive to interest rate risk.  Eventually, to keep liquidity to keep up with these tech start ups drawing on their desposits, they had to realize those losses and [BLEEP] hit the fan.  

It looks like the insiders got out/partially got out and they tried to leave the regular depositors holding the bag.

If I make a mad dash for the exit, that doesn't mean I want to leave you in there.  It just means I want to get out.  

The tipoff was when the bank announced that they were going to sell some stock to raise capital.  I would think anyone who saw that announcement and had deposits that exceeded the insurance limits would be scrambling to protect themselves.

There were rumors that another bank was poaching clients last week and billions were moved. The movement alone was what caused the failure. I haven't looked today but I don't think they were totally underwater. Hopefully the sale of assets will cover most of the deposits so the taxpayers aren't on the hook for all the liberals' money.

Sent from my SM-T970 using Tapatalk

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The feds do not "run out of money."  

I think the drain started with the economy slowing down and these tech startups which burn cash at an incredible rate drawing down the deposits they had, and since the bank had invested the money in bonds whose market values had been depressed by rising interest rates, they couldn't cover the withdrawals.

The FDIC insurance is limited and doesn't have enough to fund every account to the limit. Now they just covered a ton more. If more banks start failing, the fund will not have enough money to cover everyone. The regular people will be left getting prorated amounts if too many fail.

If I make a mad dash for the exit, that doesn't mean I want to leave you in there.  It just means I want to get out.  

The tipoff was when the bank announced that they were going to sell some stock to raise capital.  I would think anyone who saw that announcement and had deposits that exceeded the insurance limits would be scrambling to protect themselves.

There were rumors that another bank was poaching clients last week and billions were moved. The movement alone was what caused the failure. I haven't looked today but I don't think they were totally underwater. Hopefully the sale of assets will cover most of the deposits so the taxpayers aren't on the hook for all the liberals' money.

Sent from my SM-T970 using Tapatalk

Please don't make this about ideology or division.  We know multiple Trump donors had money in SVB.

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My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

The FDIC insurance is limited and doesn't have enough to fund every account to the limit. Now they just covered a ton more. If more banks start failing, the fund will not have enough money to cover everyone. The regular people will be left getting prorated amounts if too many fail.


There were rumors that another bank was poaching clients last week and billions were moved. The movement alone was what caused the failure. I haven't looked today but I don't think they were totally underwater. Hopefully the sale of assets will cover most of the deposits so the taxpayers aren't on the hook for all the liberals' money.

Sent from my SM-T970 using Tapatalk

Please don't make this about ideology or division.  We know multiple Trump donors had money in SVB.

Check who had the most money in the bank. It was the tech industry bank and China was heavily invested also. Facts are facts even if you don't like it.

Sent from my SM-T970 using Tapatalk

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If I was a business owner, I damn sure wouldn't put a portion of my money into a liberal bank..

They just don't understand the concept of money for some reason.

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