Beginning of the end?

[texasdeerhunter]

I am not seeing anything that should cause widespread cause for concern in the overall banking industry. Admittedly, I am in the banking industry, but I work for a community bank, so my perspective is focused on the microeconomics of what is happening in California. That being said, I still stand behind my statement that the majority of banks are solvent and are at no risk of failing. And yes, I was in banking during the 2008/2009 crisis, so I have experience during turbulent times.

I plan to write a more detailed response tomorrow to the overall banking industry and the current environment that banks are dealing with, if I have time and work doesn't get in the way. In short, if you have less than $250,000 on deposit with ANY bank, you don’t have anything to worry about. Don’t overreact

[hpdrifter]

I am not seeing anything that should cause widespread cause for concern in the overall banking industry. Admittedly, I am in the banking industry, but I work for a community bank, so my perspective is focused on the microeconomics of what is happening in California. That being said, I still stand behind my statement that the majority of banks are solvent and are at no risk of failing. And yes, I was in banking during the 2008/2009 crisis, so I have experience during turbulent times.

I plan to write a more detailed response tomorrow to the overall banking industry and the current environment that banks are dealing with, if I have time and work doesn't get in the way. In short, if you have less than $250,000 on deposit with ANY bank, you don’t have anything to worry about. Don’t overreact

In the mean time; 401k's cost people billions more.

[WItoTX]

The Feds bailed SVB out.


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I mean, who didn't see that one coming?

[WItoTX]

I am not seeing anything that should cause widespread cause for concern in the overall banking industry. Admittedly, I am in the banking industry, but I work for a community bank, so my perspective is focused on the microeconomics of what is happening in California. That being said, I still stand behind my statement that the majority of banks are solvent and are at no risk of failing. And yes, I was in banking during the 2008/2009 crisis, so I have experience during turbulent times.

I plan to write a more detailed response tomorrow to the overall banking industry and the current environment that banks are dealing with, if I have time and work doesn't get in the way. In short, if you have less than $250,000 on deposit with ANY bank, you don’t have anything to worry about. Don’t overreact

No. I want to over-react. I've already bought all the bread and milk I could get my hands on, and I have a mattress where I will stuff my cash before I convert it to gold. I bought those dehydrated meals off Fox News, and my wife and kids are safely stuff in the bunker until it is safe to come up.

Who are you to tell me what to do?!

[Death from Above]

Flip coming
Act II Phase 3 (11.3)
A Traitors Justice

Lol.

[CEO]

No. I want to over-react. I've already bought all the bread and milk I could get my hands on, and I have a mattress where I will stuff my cash before I convert it to gold. I bought those dehydrated meals off Fox News, and my wife and kids are safely stuff in the bunker until it is safe to come up.

Who are you to tell me what to do?!

You didn't mention a lifetime supply of "My Pillow" pillows. Do you even prep bro?

[texasdeerhunter]

Wish I would have bought a bunch of those bank stocks that were on sale yesterday ����*♂️

[dustoffer]

Interesting lie Biden told is that it won't cost account holders anything since the FDIC is funded by an assessment on the banks. Well DUH! Who's money is the bank using to pay the FDIC? What is most amazing is the number of folks who believe this stuff--same as taxing big business instead of the rest of us---and what does big business do? Pass it down to us.

[Bill]

The FDIC is funded by premiums paid by banks and savings associations. It’s a cost of their doing business. To say taxpayers are paying it is like saying an electrician send you a bill and you’re paying his workman’s comp insurance.


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[Man]

All banks should start taking higher risks now since the standard being set is that they will be little consequence.

[hpdrifter]

The FDIC is funded by premiums paid by banks and savings associations. It’s a cost of their doing business. To say taxpayers are paying it is like saying an electrician send you a bill and you’re paying his workman’s comp insurance.


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well, you and other customers are. if he didn't get paid, how would he pay his WC? I'm sure that's part of the charge also; overhead.

[Bill]

Would you rather your bank didn’t pay the FDIC insurance and your money was not insured up to $250k?

In economics, the customer or client ultimately pays the bill. Electrician’s WC, my Podiatrist’s medical malpractice insurance, your accountant’s insurance on his office. All past-thru in what they charge you.


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[hpdrifter]

Would you rather your bank didn’t pay the FDIC insurance and your money was not insured up to $250k?

In economics, the customer or client ultimately pays the bill. Electrician’s WC, my Podiatrist’s medical malpractice insurance, your accountant’s insurance on his office. All past-thru in what they charge you.


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na, I'd rather they pay(the insured amount), just don't blow smoke up the orifice.

If people were as smart as they say, they wouldn't have too much over the insured amount in any one bank.

[Bill]

I think most of the high $ accounts in SVB were corporate. I’d be surprised somebody was smart enough to have millions of dollars and dumb enough to have it sitting in a checking or savings account.

When you take VC funding, it comes with strings attached- like where the investors would like you to bank. Or if an investor has commercial buildings- where you’ll set up and rent. It happened to me in a startup I was a co-founder in 2005.


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[91cavgt]

FDIC insurance is a joke, especially if you have money in a big bank. Think your money is protected? Think again. It’s an illusion.

In 2021, JP Morgan had $2.4 trillion in deposits, but the FDIC currently only has/had $125 billion to cover deposits. So if, for example, JP Morgan were to collapse, you would get 5% of what is in your account? Someone correct me if I’m wrong here. The FDIC didn’t even have enough funds to cover these 2 midsized banks that collapsed.


Unless you have connections to DC, you ain’t getting squat. Janet Yellen, in a round about way, even stated this.