Bountyhunterfromhell
125411
2336
50
Mar 16, 2023 1:33 AM
Bountyhunterfromhell
125411
2336
50
SickboySuperfly
peltkevin3263000
P mm pmp0pppppk0lm0pl.lm0ppm00p0pm0pmpool.ppl
mattcoCat
Yeah he also said he would protect the environment and then passed the Alaskan pipeline bill.
swattyKnotts
Problem is, we're all forced to invest in the inherently risky stock market with our retirement savings. Thanks, GW Bush!
QuetzalcoatI
Too bad most big investors already cashed out and got away with millions before the crash.
magicmeatloaf
Unless it’s 2007 and related to your mortgage
HardDoseOfReality
Aww did someone get used to getting bail outs after risking everything on bullshit again?
Herperchick
Likely still insured through SIPC, up to a point.
badgesweedontneednostinkingbadges
Maybe the investors can get some of the money the execs gave themselves in bonuses as the feds were closing them down.
Starfury42
The deposits are insured to $250k. That's it. If someone had $10 mil...they get 250k.
MissSiesta
NEVER INVEST IN AMERICAN BANKS, PEOPLE. Sincerely, Norway
fknbastard
SVG money wasn’t investment dollars, it was however capital investors who were banking there - so still a bail out of wealthy investors
N0S4A2
/S
IncognitoMosquitos
ProbablyBigfoot
This is suspiciously similar to a meme my investments professor would make.
oldguyexlurker
He also said the people running the bank would be fired and I hope potentially prosecuted.
Shaodyn
They actually want socialism for themselves and capitalism for everyone else. But they can't say that, because then they wouldn't be able
Shaodyn
to vilify, if not demonize, absolutely everything they hate as socialism.
thespaceneedle
And fuck management! They get fired AND zeroed out! AND feds are looking into pre-crash stock sales! And fuck Peter Thiel!
05Darkknightly
Thiel was the idiot that started the bank run. This was not 2008 levels of junk "financial products". Thiel being the drama queen panicked.
gardenias
This sentence makes my democracy hard.
NoUseForMySoul
It's a bailout for unprofitable venture capital firms that had way more than the insured amount in the bank. Taxpayer foots the bill.
NoUseForMySoul
The banks should be allowed to collapse, the companies along with them (both failed basic risk management). Repay 250k to each.
NoUseForMySoul
Who do you all think pays the FEDs expenses?
rfoil
96.68% of SVB was owned by institutional investors, mainly pension funds like the Ohio State Teacher Retirement System.
mintakka
Kind of a weird way to frame it - STRS had les than 40 million in SVB against total assets worth almost 90 billion. SVB investors are
mintakka
not "mainly pension funds"
Mack1986
The real crime here is the center justified text for a paragraph
NateintheNorth
Right? Justify it on both sides you cowards!
BleedingQuasar
Niceisinfrance
TripleDane
its breath taking to see US government actual do the proper governing of the people
Snooj
If I could invest without risk I'd invest all of my money all the time. I'd borrow money to invest it.
ImmaCatImmaSexyCat
Never invest more than you're willing to lose. They invested. They lost. Think it was unfair? Demand better banking regulations.
GlebReawer
SVB specialzed in serving startups. They invested the money they got from them in 10y bonds, that they now have to sell at a loss. If it 1/2
GlebReawer
was only SVB then it wouldn't be that bad, but the effect is spreading. The situation is looking worrisome as now 3 banks have collapsed 2/3
GlebReawer
in 5 days. https://www.youtube.com/watch?v=_bUcyfvysWo I 100% agree with not investing more than one is willing to lose. 3/3
arrogantengineer
Is anybody actually advocating that investors should be bailed out etc (as opposed to depositors) or is this just a wank fest?
barkappara
No, but some right-wingers are trying to conflate this with the 2008 bailouts, so it's worth emphasizing the difference
BronkLuonk
Wank fest. A bank is failing without investors losing. They're supposed to lose from bad investments.
Filanwizard
I doubt we will see a bailout push unless the serious banks start to get wobbly and I do not see that happening.
Filanwizard
if JP Morgan, Citi, BOA, etc start to go tits up then the government bails id imagine. but SVP likely is not a big enough domino to trip em
Lionskull
there are a lot of rich people saying that.
ReverseSyzygy
I'm sure the investors advocate that
arrogantengineer
Where?
Sylphyyy
Honestly if you have over $250k and didn't know insurance limits, you deserve to lose the money. That's just not something you don't know.
Sylphyyy
I know a bunch of people with like ~30K saved will go "well i didn't know..." but you don't have an accountant for taxes either do you??
Sylphyyy
"I didn't know they would be insured" you have to have different insurance for teeth, eyes, health, car, house, & pet. ofc they would be.
jmny5Magnet
sir this is a Wendy’s
HeresYourSauce
Diversify your investments. It'll say over and over it's not FDIC insured, there's no surprise there.
Sticklebrickk
"Let's short gamestop, and potentially put it out of business. Surely nothing will happen."
MiHaleEsSuHale
BoogiesOogie
Diversify your bonds & protect ya neck
jzbstl
Deposits. Not investments. Businesses have to carry more than $250K to meet payroll & bills, etc. Shit, some single transactions are > $250K
dcostanza1
Which is why competent companies put their deposits in and process transactions via multiple banks. You know...diversifying
MicroMeta
Eff that I am all in on tulips, there was a time when a single tulip bulb could buy a house. It's coming back...to the moon...
ExogenousDataStructure
Old-school Bitcoin!
JackedUpGinger
Could have sworn that was turnips
MicroMeta
Would have made more sense at least you can eat those. https://en.m.wikipedia.org/wiki/Tulip_mania
DisUsernameAmsDildos
Diversify your bonds! Wu-Tang Clan ain't nuthin' to fuck with!
NamesJamesBitch
KillingTlme
Fuck that, put it all on 00
Asadsadsadclown
Clearly you don’t know about the fortress… https://youtu.be/hauYZzZZzhY
HasteTheFool
Neat hack. If you lose at roulette, go back in time snd change conditions enough to allow another number to come up, OR change your bet!
BisAndThighHighs
Make sure to use the Zero Jewel and reload if it lands on 0 instead.
ChromeAtom
As Westley Snipes said, Always bet on black
Dogman1227
Ain't that why he was in jail for tax evasion or something?
TI99Kitty
Batman said that, too.
Jhi85
I thought wesley snipes said, "diplomatic immunity!" ?
Imalwaysready
Hard to do when it's not investment, but business operating accounts for purchasing, payroll, payments, etc.
MiHaleEsSuHale
That would fall under customers of the bank. If the fdic protects 250k per account, spread put the accounts. No one expects a financial 1/2
MiHaleEsSuHale
Institution worth billions to fold but manage your risk. Other than accounting headaches theres no reason to put more than 250k into 1/2
MiHaleEsSuHale
Any singular checking or savings account long term.
MicroMeta
Not really you can setup automated sweep accounts that banks have agreed to take portions of. Big companies automatically distribute funds.
HeresYourSauce
That does get to be more messy, but there are still ways to mitigate risk. One is just to keep different banks for different accounts...
HeresYourSauce
and there are companies let you treat it all mostly as one, but under different roofs, so less risk...
HeresYourSauce
and beyond that you can keep insurance, which is all the FDIC really is.
CrimeBrulee
I'll believe it whenever the fuck I see it.
jasonboison
Exactly
080080
that is exactly what is happening but you don't have the financial literacy to understand it.
Imalwaysready
So, like, right now?
HedonistBeard
It's done. It's happened. It's over.
jmny5Magnet
bro…just…open your fucking eyes??!?
MushinMan
What they mean is that they have become jaded, and (sorta reasonably) unwilling to burn mental energy on checking such things themselves
LAMovieDesign
I mean, that’s literally what’s happening. FDIC insures each depositor $250,000. They’ll be made whole. Anyone else is likely an investor…
kaarbaakimgr
Yeah, nah. That’s _literally_ what’s NOT happening. All depositors are being made whole. Depositors are not shareholders. You are d.u.m.
HighlandPotatoe
Actually a lot of small companies and charities used them. They often have more than £250k
Santac99
All depositors get their money including over 250.000$.
pleaseconsiderthatImightbejoking
they're already committed to insuring all the depositors, and they're allowing banks to do more funny money shit so as not to realize losses
anyrandom0
Kinda funny seeing the downvotes here being that this is the honest truth.
ButImNoExpert
Well, the "truth" is that the FDIC is paying, and they are an insurance unit, not a regulator, so the post is not accurate.
080080
having $1,000,000 is a savings account doesn't make you an investor. how much more conservative can you get than putting money in the bank?
ZuluAssault9
I keep mine in cans in the back yard, half hazardly with no map like any sensible person. wont get me with those 'bank fee' scams!
melindajo123
Why not full hazardly?
swanglemydangle
Use multiple banks, if you have over 250k in a single bank you can use another bank down the street.
drcookieninja
If you have more millions that can't be spread across enough banks? You probably shouldn't be putting them in tiny niche investor banks
swanglemydangle
You can also use different types of accounts at the same bank that would also be insured. Some banks have a wealth dept for 1m+ acct holders
Helixninja333
Funny what happens why you apply capitalism to capitalists instead of giving them socialism.
vericon151
Crazy… the more rich you get the more socialist you are for rich people.
UnorthodoxLady
Fuck around and found out!!
buttersidedowntoast
Privatize the gains and socialize the losses has long been their mode of operation.
APassingPlasticBag
Yeah they scream for the socialism like a baby for a teat. Capitalism is great when you force it on others while reaping socialist benefits
DeepThought42
They do not give us any of the profit when their gambling pays off, so why should we cover their losses.
SecondSince
Because that's what they lobbied for... :(
DeepThought42
Oh right ! They did pay the politicians!
MeRoyMinoy
Someone think of the shareholders! /s
pixelhigh
Wrong, they got free insurance. This is a bailout.
ButImNoExpert
FDIC is not "free" insurance - the banks pay for that fund via premiums.
pixelhigh
It’s insurance up to 250k. All deposits, regardless of size were guaranteed.. less than 10% we’re under 250… it’s free.
ButImNoExpert
Customers were covered for more than the bank paid for, but it cost them their entire business. The bank didn't benefit.
pixelhigh
Well, this is a great plan let’s devalue our currency to bail out some ridiculously wealthy investors. Who invested poorly. Yay!
soniclettuce
This is probably the right action over all, but kinda crazy how when the tech bros say the FDIC needs to step in and back the deposits, 1/
soniclettuce
imgur is calling for blood and saying let capitalism run its course, and then when Biden does it, we like him so everybody says its good now
ReaperCDN
It's not "good" now. It's letting the rich fucks get a taste of their own fucking medicine for once. Where's my bailout for losing my /1
CorGoBrrrr
soniclettuce
But... they didn't? The uninsured deposits over 250k are being backed by the FDIC, which is the bailout the tech bros were begging for.
ReaperCDN
house? Oh right. I don't get one. I'm poor. But a rich person gets to socialize their losses. Go fuck yourselves. 2/2
ReaperCDN
The only way you'll see progressive changes (regulations) to prevent these kinds of things, are when the rich are affected. 3/3
WinstonSmith101
Your view is simplistic. I could explain it but I can’t be arsed to school someone so willingly obtuse.
WinstonSmith101
Ok. Assuming you’re serious: buckle up…
soniclettuce
Enlighten me pls, I'm not trying to be obtuse, from my view it seems like people have been conflating backing the deposits with backing the
soniclettuce
bank the entire time. Imgur was absolutely roasting the tweets of ppl saying the FDIC should back the deposits, and now that they are,
WinstonSmith101
Ok: assuming you’re serious. Buckle up…
soniclettuce
Feels like there's very little informed understanding going on...
airen
I agree you seem to nlt be informed
WinstonSmith101
You don’t say…
LightofPilot
Corporations/investors shouldn't be reconciled with taxpayer money just because their gambling failed to pay in their favor... at least imo
Burke616
We're not saying "capitalism is good," we're saying "live by the sword, die by the sword."
soniclettuce
Ok so what Biden did is bad? He did what the tech bros asked for (FDIC backed the deposits). So they didn't die by the sword. Or no?
BenYourFriend
It’s more like we’re happy the rich are getting fucked over the same way they fuck us over, and that they’re not being bailed out for once
soniclettuce
But... they did. The tech bros got what they were asking for (FDIC backing the uninsured deposits). When they were asking for it everyone
dankenmutt
I agree, no normal person would have more than 250,000 in that bank... If they're participating in exploitative business practices enough
dankenmutt
That they feel the need to hide behind multi-billionaire libertarian lobbyists and fanboys there's no good reason why they should be insured
trickflo
My understanding is they mostly dealt with business accounts rather then individuals
DMSledge
You might be missing the context of decades of socialism for corporations and none for actual people.
soniclettuce
So, the FDIC backing the uninsured deposits >250k, so corps don't lose money, is bad right? The first line of the post is the gov giving
Athanar
What's going on is we're in support of the innocent people who were mere customers and don't care what happens to the capitalists.
soniclettuce
So when the tech bros said "FDIC needs to step in to back the uninsured deposits" (which is what happened), they were right? Or wrong?
Vanderhugen
Over 90% of depositors in SVB were in excess of the FDIC limit but took the risk of being uninsured because they got special rich guy perks