Lol, ET under investigation, that must be a first. Care to explain how SVB did not raise all sorts of red flags when it tripled in value over a short period of time? A deposit taking bank?
%% THAT'S MOST likely right. Except many said LEHman, Bear Stearns....... was ''to big to fail'' Not a prediction, nor was that last sentence true. Maybe some people dont trust a Treasury Secretary[2023] ''that promises to give non US citizens , like Ukraine people a pension''+ rubber stamps overspending\over a budget if any budget?? You think ?? Maybe?? FOX news did note today 6[six] banks were flagged ,''for review for possible downgrade by Moodys ''; FDIC insurance is a good idea, may or may not insure over $250 ,000 per account. Thanks
The fix to this inadequate insurance for deposits is to require banks to have their hard assets like real estate, mortgages held by Americans as collateral. Banks should not be allowed to accept deposits more than 50% of their hard assets. That would ensure all deposits are guaranteed their monies. Banks can use their deposits but, if they act irresponsibly, only the top executives and shareholders will end up losing their monies. They are not going to do that because the politically connected will never hold the bank executives accountable ever.
%% I watched a brief clip on FOX news\ a Financial firm was lending money including $150,000,000 to SVB customers + the like, for payroll . WHAT's the interest rate ,asked the FOX reporter ?? It varies, since we have no collateral/ its 12-% --25% for 18 months, the gentleman said. The FOX reporter seemed shocked @ that rate But the lender had a good point ''we have no collateral like a home to repo\ in case of default.''
%% C [citigroup]is actually a penny stock but the I bankers reverse split it 10 to 1 \ so $47.666 is really $4.7666. But i noted you tried to promote crypto cr*p-no thanks. Its one of the few stocks like GE \years ago IBD books did not like both of them. XLF had a good bounce today, but that= banks +capital companies + insurance. XLF seldom beats SPY benchmark for long with more sector risk; maybe ok for trade. May not. The biggest nonsense promoted =is a big bank is safer than well run community banks\LOL Big banks have had the biggest fines+ repeated fines , WFC + many. Because of sub standard service i moved my BAC account real quick-out; my banker dad never put up with average customer service. But Warren buffet likes BAC
%% Exactly; Fed + Fed song is stronger than[c] citigroup or EsG. And Harry Solomon Truman warned them before that happened.