Sign into an existing account

Same players in 2008 as in 2023.

Nothing changed because no one was hung

I was thinking that the diversity hire could be blamed and held up as a sacrificial lightning rod. Though with how many they hire and how jewy the banking industry is, it's hard to tell sometimes. Good info.

deleted

China owns half of SVB

Interesting, come see me after class. D-

Banks only keep approximately 8% of their cash at actaul "bank". The rest of the money is from creditors and investment opportunities day trading debtors (wage slaves). Poor creditors are referred to as poor-performing assets. Banks even trade the wage that you receive from your employer on the day which is why you typically receive the money the day after your employer pays you.

Now SVB is a niche bank that mostly dealt with computer companies. When covid hit most companies went into a work from home scheme as tech jobs in silicon valley can be done off-site.

Now it all boils down to not having any form of a Financial Risk Management team at the helm for several months, and when someone was employed to begetting risk to the bank, she was too busy playing with identity politics and promoting personal social causes on the banks time and literal dime.

Most of their investment opportunities were in bonds, with bonds typically being strong performers, specifically US bonds being "as strong as houses", except these "houses" were being devalued.

The most critical issue was SVB choice to invest in long term bonds that couldnt be touched for 10yrs.

So now we get to the problem which should have been picked up by Risk Management. Poor creditors, panicked debitors wanting to take out more money than is available (not to the customer, but from the bank as most assets are locked in investments), having mostly all SVB bonds locked in long-term debt making interest IS the reason the bank failed.

Solely due to the reason of having a diversity hire Risk Management team not present, or not understanding the role.

Maybe you could argue its 'banking inception', a scam in a scam and this pajeeta was a patsy for the inevitable collapse, assuming the creditors (China) were inside trading with knowledge about a pending lockdown pre covid?

REAL SOON!

deleted

Street shitter