Silicon Valley Bank collapse raises fears over banking system
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- Опубликовано: 28 сен 2024
- The abrupt closure of three banks in a matter of days is continuing to ripple across the American economy. CBS News national correspondent Errol Barnett joined John Dickerson on "Prime Time" with the latest on the Silicon Valley Bank's collapse. Then, Jeff Guo, co-host for NPR's "Planet Money," helps break down what exactly happened to SVB.
#news #economy #siliconvalleybank
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Bad start to the year with these banks collapsing, META down 40k, ALLP down 35k, Draft Kings down 6k, NIO down 15K, ABML down 8k, and my wife doesn’t know. I'm just hanging on to Jim Cramer's words about opportunities in volatile times so perhaps, I either wait for a recovery or pick profitable investments to substitute for my loss.
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Let them fail and their investors lose! This is the only way the banks will learn. The public backlash will be severe to any bailout, buyout, or tricky maneuvers. The bank's, CEO's, brokerage's, etc. bad behavior creates constant financial problems for average Americans. Arrest, prosecute, jail and recuperate bonus money.
Good luck with that.
Ummm that is what they did. SVB shareholders wish they owned the 1% treasuries the bank was forced to sell to cover the panic, and hopefully the fed will take back the executives recent stock sales, and bonuses if they narrowly preceded the panic.
Why the heck would you put your life savings in one bank? And he’s an accountant! 🤦♂️
Accountants are different from financial advisors.
@@brent4073 You don’t need to be a financial advisor to understand FDIC/SIPC.
And this is precisely why this is a bailout. All the companies' CFOs, CPAs, FA knowingly chose to not to diversify and do proper RA.
It's not so much that he had all of his savings in one bank, even worse is he used a bank that dedicated to the venture capital industry. Yes, they manage to do surprisingly well over time but..... mistakes have been made.
@@EastCoastReefer exactly
YES! By all means raise fears!
💯 Hold tight..but be observant
A bank run on any bank will collapse it, no matter how large.
Any bank not meeting Dodd & Frank guidelines should never be given an “investment grade” rating. Rating organizations like Moody”s or Standard and Poor”s are failing investors. Why is no one reporting on this unresolved issue? The story is much more than incompetent bank management.
Barney Frank is on the board of directors at Signature Bank. That bank also failed during the weekend.
@@mel0214 Yep, was… He also misled efforts to repeal Dodd-Frank for mid to small banks (under $50b in assets) based on greed and inconvenience. No one said the rule would be easy, just necessary to keep banking and investments safe. Guess there is a reason why Dodd got top billing on the bill name.
Is SVB paying out overcharge insufficient funds late fees to these customers????? Sounds like this is a violation of the agreement they had with customers. 🤔
Politicians must take full responsibility.
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aaaand it's gone
News Flash: The FDIC fund that is being used to return money to the bank's customers is going to be paid by US taxpayers.
Everyone with any money in an FDIC insured financial institution will be paying the additional fees that are going towards making the customers whole. The fees won't be listed as Silicon Valley Bank recovery fund, but we will be paying it via higher banking fees and larger account minimums.
The nation and the world get to pay for this stupidity multiple times while those who created this mess will face no consequences.
The bank didn't have to buy the government bonds that created the collapse. If the government couldn't find anyone to buy the bonds at the terms offered they would have had to offer better terms until someone was willing to buy them. The banks had so much money they didn't know what to do with it and they put it all in an obviously losing bet.
If the banks had managed their risk correctly the market would have required rates begin increasing much sooner. The global financial system suffered first when the irresponsible banks forced even more excess funds into the market. We are paying a second time now with the volatility associated with the bank runs. We will pay a third time as the system goes through another recovery and regulatory enhancements.
Well said.
That's why I keep my money with Chase. Jaime Dimon is no CHUMP. ✌
Fears? It confirms what we already suspected, CBS.
They about to leave us ……
Good point Mr. Dickerson.... "Interest rate hikes have been in the wind for a long time....". Next excuse?
Spread more fear then cause massive public panic loss of confidence in the banking system then massive withdrawal. Chaos ensued, the financial system collapsed and then the great depression followed. This is how modern media or news help create unnecessary fear and a domino effect followed.
It is the maga doomsayer fools and Pootin' trolls trying to panic patriotic Americans, not most media or the president.
Could this be 1930 all over again
Fractional reserve made sure no bank could survive a bank run
The Glass-Steagall Act (1933) was to stop events like this.....but was repealed by G W Bush?
The Glass-Steagall Act separates traditional banks that offer savings and checking accounts and are insured by the Federal Deposit Insurance Corporation from riskier financial services, such as investment banking, insurance, swaps dealing, and hedge fund and private equity activities.
Mirror mirror on the wall who is the safest bank of all!🤔🤔🤔
Don't mess with Adani.
Another win for Biden…
They invested in bonds... Not crypto
Get your money out. Don’t let anyone tell you otherwise!
Why? Money is symbolic and only worth what the government says it's worth. Investors should worry. That money is not insured by the FDIC. If you have less than $250k in a savings or checking account, you're fine.
I agree with you.👍.
Get ready for digital
take ur money from bank and RUUUNN
This is not a crypto plunge this is a US dollar plunge let’s just keep the facts straight …
People should take money from bank and put this into 10 years government bond. This is not financial advice, this is my concern for all bank. We don't know which one is going to collapse next.
I took all my money from savings account and buy dividends pay stock and I will use margin to buy my emergency needs.
What Americans need is for a repeal of the Trump-era banking deregulation law: This is what happens when we have politicians cater to Wall Street instead of working families.
No, this is what happens when a bank goes woke.
Man that historic infrastructure bill sure is making this economy take off.....
You forgot the 4th one.
You can give Bonaveststockfx a trial and thank me later. It’s been all beneficial ever since my retirement.
Buy food for one year 😋
That would have been an investment if done last year.
@@PhilipMarcYT I did in 2020, I'm good
as the youths say, it f'd around and found out! 😀NPR on fleek
😂😂😂 💩 got real
When are we ever going to start the conversation about the compensation of the upper level management of these banks?
I for one don’t feel like I need to be on the hook for another cycle of bailouts
Its only going to happen when the people are banging on the doors of their own reps to demand answers and put their feet to the fire. And in turn, they demand why our own Executive Brach chose to bailout these executives that made bad financial decisions and used their own workers to scapegoat.
They collapse because of crypto.
We are facing the collapse of the United States over the debt ceiling default, that is the real danger.
Credit Suisse will be the next big problem. The dominoes are starting to fall for a repeat of 2008.
Why are banks still so reliant on customer deposits to remain afloat?
I guess we got to bail them again folks
No,we don't. F#*k em!
Too much emphasis on investment by the DJT Ad? Debt then interest rate hikes? Deposited are going to be bailed out? Eh
Move bitcoin
i rather go with gold lol
@@Onion_Knights100% gold is more stable.
@@CHIM3RA. yep
Satans in the bank accuser deciever.
And yet, no one is just fine.
Steve Jobs
Pure evil
It's the beginning of the end for the Fed!!! Everything Woke goes broke!!! Thank you DJT!!! 💕
do some rearch lol
@khon6339 yep, I've done plenty, your turn. As if you don't know that the people who started the fed sunk the Titanic from keeping Astor, Strauss, and Guggenheim from coming here and opposing it. I'm sure you're very proud of that.
Trump666 changes the bank size regulations, with the old rules they would have seen this coming.
@@chicagogal I dont care about them. you cant define woke & you never will. go woke go broke is for people is for suckers, who went broke lol ruclips.net/video/YRZtL83O9uU/видео.html
@khon6339 who don't you care about? All the people that your people mrdrd??