Jump to content

silicon valley bank Shut down in USA : 213,000000000000 lost

Nidhibic

By Nidhibic
in Chit Chat

 Share

Recommended Posts

BacktoCricaddict Grand Master

BacktoCricaddict

Posted
Posted
1 hour ago, mishra said:

Mariyamji, working in West has made clear one thing. Every sector, allmost every sector is corrupt at top level. Delivery at medium level is next to nothing. All the innovations and technological advances are done by some Smart Hardworking Indian, Chinese, Latino , Eastern European or African while it is his white Boss that takes the credit. Smart Western White person is still there, but a hardworking white bloke is a rarity.

 

Before someone jumps the gun I will give a example in football. Its non whites who are toiling day in day out playing in various European leagues but they all have a white Agent making money for them and a white owner/manager running the Team. How long can this lazy arsed approach be hidden. A century, two century may be, but it will have implications

 

The phenomenon you describe is systemic racism. 

 

Mishraji is woke :-)

 

 

Link to comment
Share on other sites
BacktoCricaddict Grand Master

BacktoCricaddict

Posted
Posted
22 hours ago, Mariyam said:

Who thinks that US institutions are, for better or worse, better regulated than the rest of the world?

 

Remember Gamestop? Don't they even have a SEBI equivalent over there?

They do, but there is a constant tug-of-war between the two big parties over the extent of regulatory reach.  I don't understand the details enough to expound here, but this may be a good article on this topic:

 

https://www.forbes.com/sites/mayrarodriguezvalladares/2023/03/12/how-trumps-deregulation-sowed-the-seeds-for-silicon-valley-banks-demise/?sh=26dc62734320

Even as early as 2015, CEO Greg Becker lobbied for lighter regulations. He argued that his bank was not a big bank, since it had under $40 billion in assets. In the statement that he submitted to the Senate Banking Committee, he stated that “since the enactment of the Dodd-Frank Act, we have made meaningful investments to our risk systems, hired additional highly skilled risk professionals, and established a standalone, independent Risk Committee of our Board of Directors.” Becker’s statement did not age well. From that year to last week, SVB had grown by 430%. It was $212 billion in assets on Friday, March 10, 2023, the day that California’s Department of Financial Protection and Innovation closed it down and appointed the Federal Depository Insurance Corporation as the receiver for the failed bank.

Link to comment
Share on other sites
BacktoCricaddict Grand Master

BacktoCricaddict

Posted
Posted (edited)

Boy, it does seem like American conservatives are super-threatened by LGBTQ people.  Blaming every apocalypse on them!  First, it was the claim that floods, earthquakes, tornadoes and wildfires were all caused by God's fury against gays.  Now, even banks are apocalypsing because of *those* people? 

 

Here's a good takedown.  Read the whole article.  The excerpt below is just for starters.

 

https://www.vox.com/money/23638473/silicon-valley-bank-failure-fdic-republicans

 

Quote

It’s unlikely that the SVB board was “distracted” by diversity and inclusion when, by Kessler’s own admission, the board was still mostly male and mostly white, indicating no real departure from the status quo in board rooms across the financial sector. According to data from McKinsey, as of 2021, 64 percent of C-suite executives in the financial services industry remain white men. While SVB had an ESG commitment focused on climate and sustainability, it worked with a lot of clients within tech — the digital media player manufacturer Roku, the gaming platform Roblox, the online marketplace Etsy, pharmaceutical companies — that have no discernible obsession with social justice values. Perhaps there’s a tiny subset of the financial sector that could be called “woke,” but such anti-capitalist investors and lenders describe being shunted to the margins by the traditional banking system; they’re not claiming to represent half of all the nation’s VC-backed startups, as SVB did.

“If anything, the problem at the failed banks was a lack of diversity, especially a lack of diversity in their balance sheets,” Zach Teutsch, founder of a financial advisory firm for progressives called Values Added Financial, told Vox over email.

“It’s hard for me to see how SVB’s politics had anything much to do with interest rates changing and their balance sheet being vulnerable,” Teutsch added. “This sounds like ideology in search of a fact pattern.”

 

Edited by BacktoCricaddict
Link to comment
Share on other sites
BacktoCricaddict Grand Master

BacktoCricaddict

Posted
Posted (edited)

SVB amount donated to BLM = $75 million minus $75,000,000

 

https://popular.info/p/silicon-valley-bank-donated-zero

 

Wokeness is a convenient distraction from the real reasons why the bank failed. One of the main factors was a Trump-era law that rolled back banking regulations. Passed in 2018, the law rewrote parts of the 2010 Dodd-Frank Act, a piece of legislation that was crafted in response to the 2008 financial crisis. This new law “raise[d] the threshold at which banks are subject to certain federal oversight.” In other words, banks SVB's size now faced less regulatory scrutiny. 

Among the supporters for this change was SVB’s CEO Greg Becker, a longtime critic of the Dodd-Frank Act. In his 2015 congressional testimony, Becker argued that the Dodd-Frank regulations “unnecessarily” burdened SVB and “stifle our ability to provide credit to our clients.”

We cannot say definitively what would have happened to SVB if these rules were notrescinded. But we do know for certain that SVB would have been subject to more oversight and regulation.

Edited by BacktoCricaddict
Link to comment
Share on other sites
Khota Veteran

Khota

Posted
Posted
6 hours ago, ravishingravi said:

 

So if they bet on interest rate staying low, why did the CEO management sold off their shares couple of months back. Did they know something that you didn't ?

They saw interest going high and realized their mistake. So far what they did was wrong, not illegal.

Link to comment
Share on other sites
Khota Veteran

Khota

Posted
Posted
5 hours ago, ravishingravi said:

 

Wait what ? So initially you said what they did was mistake. Then you said what they did was wrong. Make up your mind. Which one was it ? 

Are you a trial lawyer? Let me explain it simply, engaging you was a mistake, and it was a wrong thing to do. Does that help.

Link to comment
Share on other sites
coffee_rules Grand Master

coffee_rules

Posted
Posted
On 3/17/2023 at 7:59 AM, BacktoCricaddict said:

 

More like transphobic - but how did that cause Credit Suisse's downfall?  Seems like the cons have reached their conclusion and are lining up random facts to fit it.


fraud is not a random fact. If reduced deregulation is the cause for banks to fall, then every global finance company should fail. He/She being Trans has got nothing to do with it.

 

On a digression, how is this accepted by feminists? A man can be a woman for 180 days and compete and win gold medals in Olympics in women’s events, just by saying that you feel like being a woman today.

 

FrWRcWDaIAAPbsA?format=jpg&name=900x900

Link to comment
Share on other sites
 Share
Go to topic listing
×
×
  • Create New...