Lets compare the level of spending under Trump pre covid disaster to what the China Joe and the dems have spent and are planning to spend. Thats like comparing a midget to Shaq in level.
Watch while they "transfer wealth" by saving banks.
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This entire fiasco has very little to do with regulations. Its just the dog and pony show thats run out every time something goes wrong to blame Trump. The huge inflation and the upward tick in the prime interest rate to stop that inflation is much more to blame along with the green woke policies put in place at these banks.
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anon_5e8aassgcbjz1
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If you can propose a solution to inflation without raising interest rates, which should have happened a long time ago, go and collect your Nobel Prize.
Former Goldman Sachs CEO: Notion that SVB failed because of diversity is 'laughable'
Credit Suisse on Wednesday said it would borrow 50 billion Swiss Francs ($53.7 billion) from the Swiss National Bank. Follow live updates on global markets.
Trump did a great job and Biden should have continued that, but he is a closet socialist butt head and is destroying our nation on purpose so they can get rid of the constitution while cleaning up the mess created.
Trump kept inflation down while allowing individuals to have more income and more long term job opportunities than any before in recent memory.
Biden could have used the principle of "If its not broke, dont fix it" approach or the KISS principle.....keep it simple stupid. He obviously didnt do it in any respect, but you libs living in a dream reality keep bragging how good the economy is and that inflation is going down.
WOW!!!!
What a DA - it was BROKE when he turned it over to Biden, with the highest unemployment in many years!! Trump also added trillions to the deficit with his unnecessary tax cut and he's now responsible for 25% of our national debt. Get that orange makeup off your lips MAGAflunky
Leftist propaganda. Go back to your hive and get some better material because this is beyond flimsy.
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anon_5e8aassgcbjz1
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Trump liked him some low interest rates. You can't reconcile that with him being an inflation hawk.
On the subject of getting rid of the Constitution, "A Massive Fraud of this type and magnitude allows for the termination of all rules, regulations, and articles, even those found in the Constitution"
Trump did like interest rates low and his monetary policy allowed them to stay down which is not whats occurring under the Biden junta. The 2nd paragraph is just liberal silliness.
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anon_5e8aassgcbjz1
Guest
It is. You are not looking at context and also the Trump ability to troll you guys so easy.
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anon_5e8aassgcbjz1
Guest
What context does there need to be? He’s calling for the Constitution to be terminated if that’s what needs to happen for his phony claims of fraud to install him in the White House.
Doesn’t seem to be a wise subject to joke about.
ah right i suppose the inflation reduction act wasnt enough of a fvckup for these idiots. doubling down on stupid is an interesting strategy. they bring in ftx and svb risk management for this meeting of the minds too?
Speaking of GoldmanFormer Goldman Sachs CEO: Notion that SVB failed because of diversity is 'laughable'
Credit Suisse on Wednesday said it would borrow 50 billion Swiss Francs ($53.7 billion) from the Swiss National Bank. Follow live updates on global markets.www.cnn.com
BREAKING: House Democrat Caught Running $30 Million Offshore Nonprofit in Tax Haven Islands
Newly disclosed financial documents show that a House Democrat leading the charge against income inequality has stashed over $30 million in a tax-free international haven to support his nonprofit. The Richard W. Goldman Foundation, which for a decade has provided charitable efforts on behalf of...
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It's interest rates and some bad decisions. Simply put the bank had a ton of deposits rolling in from covid hand outs. They HAD to put that money to work by making loans. No one was seeking loans at that time so they invested in 10yr treasuries(the gold standard for safe investment). Powell and gang raised rates and as the interest on treasuries went up the value of those treasuries went down. When the run happened they quickly had to liquidate at lower values. They were stupid and should've invested in shorter term bonds.
In other word they deposited ETSY's money and invested it at a loss of 10-15% over the last 18mos.
Essentially they lost about what I have in my portfolio the lat 18mos.
The fed started slowly raising rates and these banks had some time to react and apparently did not.
Those specifics are above my paygrade. They would still be selling at a loss and their depositors would see that and perhaps cause an earlier run. Hard to say.
Everyone who has ever worked at a bank knows the primary law of banking. Assets (cash) must equal deposits and then you can do things with the rest. If you can't cover your deposits with on hand assets then you're not doing it right. Silicon Valley Bank was not doing it right. It's a fundamental error that is ridiculous. If we want to regulate we could keep it on one line on one page. Assets must equal deposits.
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That sucks, even though it was legally disclosed and he's had the account for over ten years. At least it gives money to charities so it's still serving a good purpose.Speaking of Goldman
BREAKING: House Democrat Caught Running $30 Million Offshore Nonprofit in Tax Haven Islands
Newly disclosed financial documents show that a House Democrat leading the charge against income inequality has stashed over $30 million in a tax-free international haven to support his nonprofit. The Richard W. Goldman Foundation, which for a decade has provided charitable efforts on behalf of...
Apparently the Chief Risk Officer was more focused on "safe spaces to come out" at work than she was hedging risk.
At the end of the day, not one single person will give a sh*t how diverse their board is when they can't make payroll or pay their mortgage.
Oh wait, it was safe spaces that made the bank fail? Safe spaces caused the risky investments?
Is your bunker the reason you're unsuccesful?
Lolz.....again though, if your hiring policy is based on nothing more than a racial or gender defined quota, this is what you get. You know it as does every other purple haired moron on this board.
Is it solely the reason they failed, no......did it contribute to failure, yes.
The largely undiscussed issue here is that while we see government officials talking about regulation being needed to deal with these problems those same government officials are standing by while they allow officials to seek to provide money to secure all the deposits that could have otherwise been lost. This is a departure from the FDIC and its purpose related to this matter. Essentially, we're saying to banks, do what you want, be as reckless as you want and we'll be there to cover any mistakes if you mess up. Further, there is evidence that suggests other banks were seeking to buy SVB and make the depositors whole but instead the government chose to step in and take over the situation by subverting the rules of the FDIC. They didn't need to step in here. We've created a moral hazard here and it was driven by panic and politics. Neither of those should ever be driving much of anything.
That was just some additional fodder but not the main cause of course. It was a reason they didnt have their focus where it needed to be.
Yes, I understand it's imposssible to think about more than one thing - for some. I guess planning company outings and unnecessary meetings could also contribute because they keep you from thinking about your investments.
"A database by the conservative Claremont Institute shows that SVB donated around $73,450,000 to the movement and other social justice causes as it worked to increase its Environmental, Social and Governance rating."Yes, I understand it's imposssible to think about more than one thing - for some. I guess planning company outings and unnecessary meetings could also contribute because they keep you from thinking about your investments.
Amazing
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anon_5e8aassgcbjz1
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$75m is plenty when the bank just went bust and tax payer dollars are propping it up. Criminal
“Blaming ESG and ‘woke’ policies for the fall of SVB is absurd,” said Michael Sheren, a former Senior Advisor at the Bank of England, now a fellow at the Cambridge Institute for Sustainability Leadership. “SVB failed due to poor bank treasury choices and a concentrated and lumpy tech deposit base that was highly sensitive to rate moves in the market.”
"It’s not clear yet why SVB missed the warning signs, but there’s no evidence to suggest that the demographics of its board was a weakness, or even especially unique. In fact, there’s plenty of data to show that boards with people from different backgrounds may improve profitability relative to homogeneous groups, and post better shareholder returns. It’s also true that all-male, all-White corporate boards are now almost non-existent among the biggest US companies."
"Diversity, equity and inclusion programs are also increasingly the norm. According to a study by Harvard Business Review Analytic Services, Trusaic and human resources organization SHRM, two-thirds of companies surveyed said DEI is a high strategic priority. That’s good business, particularly among SVB’s clientele: In a 2017 paper, Harvard Business School professor Paul Gompers and co-author Sophie Q. Wong found that having at least one woman in a VC fund improved performance by approximately 10% and increased the percentage of successful startups supported by those funds."
SVB Failure Becomes Fodder for Anti-ESG Crowd in U.S. Culture Wars
The failure of Silicon Valley Bank has become the latest target for conservatives in their mounting campaign against ESG.
I read that half of the clean/green tech startups in SV were banking there. If you want to attract more of that business, making donations to charities in that space is a great sales tactic. We donate money to charities that we feel align with our ideal clients.
Your company probably does the same, but nobody bothered to tell you. Considering you are the CEO, that is surprising.
There Is no data that shows that diverse boards produce better results but if you can find one that can actually show the math, I'll give it a read.“Blaming ESG and ‘woke’ policies for the fall of SVB is absurd,” said Michael Sheren, a former Senior Advisor at the Bank of England, now a fellow at the Cambridge Institute for Sustainability Leadership. “SVB failed due to poor bank treasury choices and a concentrated and lumpy tech deposit base that was highly sensitive to rate moves in the market.”
"It’s not clear yet why SVB missed the warning signs, but there’s no evidence to suggest that the demographics of its board was a weakness, or even especially unique. In fact, there’s plenty of data to show that boards with people from different backgrounds may improve profitability relative to homogeneous groups, and post better shareholder returns. It’s also true that all-male, all-White corporate boards are now almost non-existent among the biggest US companies."
"Diversity, equity and inclusion programs are also increasingly the norm. According to a study by Harvard Business Review Analytic Services, Trusaic and human resources organization SHRM, two-thirds of companies surveyed said DEI is a high strategic priority. That’s good business, particularly among SVB’s clientele: In a 2017 paper, Harvard Business School professor Paul Gompers and co-author Sophie Q. Wong found that having at least one woman in a VC fund improved performance by approximately 10% and increased the percentage of successful startups supported by those funds."
SVB Failure Becomes Fodder for Anti-ESG Crowd in U.S. Culture Wars
The failure of Silicon Valley Bank has become the latest target for conservatives in their mounting campaign against ESG.time.com
This has been the achilles heal of ESG from inception ......no one can point to a single dollar spent on ESG and show how it improved the P&L, the Multiple, Market Cap, etc of a company.
I fundamentally believe in the E part as firms should care more about what toll they take on the Environment but the S and the G part is all bullsh*t.
What is the name of your company? I would love to see what charitable donations are made.
It's more about investing in companies that reflect their values and many are willing to take a small hit to do so and they do it willingly - for instance they may not want to invest in tobacco, etc...
They are also considered responsible investments since they seek to ensure companies are competently governed, which also means they are less likely to invest in companies that paint outside the lines with risky or unethical practices.
I guarantee you conservative leaning companies do the same, they just don't have a name for it.
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anon_5e8aassgcbjz1
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