VC and VC backed companies should all just fuck right off. This concludes my well reasoned and in depth review of the financial, political, and economic considerations on this topic.
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So much doom porn going around. Other regional banks dipped 50% and bounced 30%.
Well the US banking system is still fragile. Regulators actually did a pretty good job post-2008 of cramming some extra controls into the system, but the major banks and investors and lenders and borrowers all steadfastly refuse to learn any lessons from the last financial crisis. If anything, they learned that they should risk up as much as possible because they can count on the government to pull out all the stops to protect the system except for sending any of them to jail.
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and then you have individuals like Elizabeth Warren opposing well run Canadian banks from trying to take them over.
The mega banks are way over capitalized but some regional banks are still pretty fragile.
I’m not familiar with this situation, but Warren is a big consumer advocacy person and the Canadian banks cozy oligopoly is not exactly a great environment for consumer protection. I can see why should wouldn’t like our banks.
My worst nightmare is that someday Cramer will get on TV and claim that @mosdef is his Lock Of The Week to have a financially successful future.
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because keeping money in multiple banks is too hard?
Companies certainly have a lot more than $250k in operating capital that they want fully liquid.
Flimsy you say? Be gone with your FUD!
https://twitter.com/unusual_whales/status/1634280341577035776?s=46&t=pYJ2pxr9aadLbGrVNSQUPg
Yellen say US banking stronk like bull!
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Hard to say. They said they had money from like 50% of venture funded healthcare companies and were involved in like 45% of tech and Healthcare ipos in 2022.
I doubt large companies have a lot there, but some newer businesses went there for higher rates or because they had no better options.
Really really good read
https://twitter.com/trade_the_news/status/1634316937420316673?s=46&t=pYJ2pxr9aadLbGrVNSQUPg
No idea how valid this source is but… this seems not great.
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Apparently KPMG issued an unqualified opinion on SVB’s financials and internal controls two weeks ago with no paragraph on going concern just looooooooool auditors for god damn ever
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This person get it. Pushing back the retirement age is really just a benefit cut for people that are not able to work to the later retirement age. A terrible regressive idea.
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