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Old 11th March 2023, 15:49     #43681
Lightspeed
 
It sounds like this might be just the first of a number of banks that are going to struggle with unrealised losses. They're probably big enough to weather things. Right?

But perhaps the cascade effects of SVB failing tips things over the edge? Tech companies folding amidst of a glut of tech worker layoffs.

Then again, tech is weird. It's not like factory workers losing their jobs, who depend on the factory for their ability to produce value. How many tech workers don't have a project in the back of their mind they could apply themselves to?
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Old 11th March 2023, 17:09     #43682
Ab
A mariachi ogre snorkel
 
Lololol

https://www.mercurynews.com/2023/03/...-banks-failure
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Old 11th March 2023, 18:03     #43683
Ab
A mariachi ogre snorkel
 
USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank

https://cointelegraph.com/news/usdc-...on-valley-bank
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Old 11th March 2023, 18:40     #43684
Know me.
 
Rocket Lab has/had 8% of its cash with SVB.

https://www.youtube.com/watch?v=kxcwn7xoXhU Bank runs what's going on
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Old 11th March 2023, 18:55     #43685
Ab
A mariachi ogre snorkel
 
Roku and Roblox are fucked too.
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Old 11th March 2023, 20:40     #43686
Ab
A mariachi ogre snorkel
 
USDC 88c
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Old 11th March 2023, 22:39     #43687
Lightspeed
 
Cripes.
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Old 12th March 2023, 11:01     #43688
Ab
A mariachi ogre snorkel
 
Tomorrow morning a lot of Americans are going to be asking where their retirement funds are held.
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Old 12th March 2023, 12:52     #43689
Ab
A mariachi ogre snorkel
 
The most predictable thing in the world

https://www.ycombinator.com/blog/urg...s-are-at-risk/
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Old 12th March 2023, 18:22     #43690
Ab
A mariachi ogre snorkel
 
Silicon Valley Bank employees received their annual bonuses Friday just hours before regulators seized the failing bank

https://www.cnbc.com/2023/03/11/sili...-takeover.html

Iím sure itís a coincidence
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Old 12th March 2023, 18:24     #43691
Lightspeed
 
I'm sure it's all legal (or legal enough), and that's all that matters. At least to those who could do anything about it.
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Old 13th March 2023, 09:31     #43692
sidbo
Raptus regaliter
 
Quote:
Originally Posted by Ab
The most predictable thing in the world

https://www.ycombinator.com/blog/urg...s-are-at-risk/
Followed by the second, simps begging Elmo to buy it with dogecoin...

Under/over on people who objected to Biden's student debt relief vs begging for govt bailout now it's their money at stake, is set at 95%.
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Old 13th March 2023, 14:29     #43693
Know me.
 
It's all sorted nothing to see here.
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Old 13th March 2023, 15:31     #43694
Ab
A mariachi ogre snorkel
 
Signature Bank just went under, third biggest bank collapse in US history;

https://www.msn.com/en-us/money/comp...re/ar-AA18x7VW
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Old 13th March 2023, 22:25     #43695
Lightspeed
 
The pundits I'm hearing are fairly consistent in saying this isn't going to end up like 2008 or turn into some other deeper crisis. But things are still escalating.

About 6am US EST, Monday morning right now. Should be an interesting day.
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Old 14th March 2023, 00:38     #43696
Lightspeed
 
Here's a good blow-by-blow:

https://edition.cnn.com/business/liv...-23/index.html
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Old 17th March 2023, 10:08     #43697
Ab
A mariachi ogre snorkel
 
First Republic going under
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Old 17th March 2023, 12:05     #43698
Ab
A mariachi ogre snorkel
 
Ö aaaaaand rescued.
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Old 17th March 2023, 15:39     #43699
Deff
I felt shocked
 
All your moneys are safe with us!
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Old 18th March 2023, 10:35     #43700
Lightspeed
 
Crypto certainly isn't struggling in response.
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Old 18th March 2023, 18:34     #43701
blynk
 
Nope, I think its a "haha, a bank is falling over. Crypto, is no longer the most recent failure"
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Old 18th March 2023, 18:47     #43702
Ab
A mariachi ogre snorkel
 
This weekendís drinking was financed by USDC de- and re-pegging.
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Old 18th March 2023, 20:09     #43703
StN
I have detailed files
 
Wait wait waitÖ

That fresh ip ad back in the day with the squash players saying Johnson was hard - was that a double entendre?
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Old 19th March 2023, 20:28     #43704
Ajax
Architeuthis
 
Quote:
Originally Posted by Ajax
Sounds like Deutsche Bank and Credit Suisse are both pretty close to insolvency. Lehman moment on steroids.
Credit Suisse is still in big trouble.
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Old 20th March 2023, 07:30     #43705
DrTiTus
HENCE WHY FOREVER ALONE
 
UBS acquires Credit Suisse.

FedNow (Federal Reserve's digital payment system) being launched in July. I'm not sure what the distinction is between a CBDC and the FedNow system, but I understand they're not quite the same thing.
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Old 24th March 2023, 08:08     #43706
StN
I have detailed files
 
Chick at the pub had a t-shirt on last night that said "All my exes live in Texas" - and I asked her if she subscribed to a cloud computing model with its datacentre there. Turns out its a Country lyric from the 1980's - or Drake, whatever that is.
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Old 24th March 2023, 16:39     #43707
wazza
*flex*
 
Quote:
Originally Posted by StN
Chick at the pub had a t-shirt on last night that said "All my exes live in Texas" - and I asked her if she subscribed to a cloud computing model with its datacentre there.
nice
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Old 25th March 2023, 20:23     #43708
Ab
A mariachi ogre snorkel
 
Deutsche Bank just dropped 14%
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Old 25th March 2023, 20:48     #43709
Lightspeed
 
Al Jazeera's pundit reckoned it was a meme. That if there's banking trouble everyone assumes Deustch Bank must be in trouble too.
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Old 26th March 2023, 19:06     #43710
Ab
A mariachi ogre snorkel
 
Hashtag believewomen

https://www.forbes.com/sites/erikkai...exual-assault/
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Old 27th March 2023, 22:40     #43711
DrTiTus
HENCE WHY FOREVER ALONE
 
Happy birthday StN! I won't even try to guess how old you are, but I'm glad you're still with us
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Old 27th March 2023, 23:04     #43712
DrTiTus
HENCE WHY FOREVER ALONE
 
Due to shrinkflation, a block of Cadbury chocolate is no longer "a glass and a half of full cream milk", but is instead 1.35 glasses of full cream milk.
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Old 28th March 2023, 06:24     #43713
StN
I have detailed files
 
Quote:
Originally Posted by DrTiTus
Happy birthday StN! I won't even try to guess how old you are, but I'm glad you're still with us
Cheers Dr T! 'twas a grand day.
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Old 28th March 2023, 12:04     #43714
Lightspeed
 
Thumbs up

Happy Birthday!
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Old 30th March 2023, 08:59     #43715
blynk
 
Wow, was listening to Today FM, flicked it on just before 9 and they were talking about how they were going into a meeting and they are not sure what was going to happen.

30 minutes later, they are gone. Told to play music and thats the end.

Quite gutting actually listening to them, while on air, find out.
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Old 30th March 2023, 11:48     #43716
Lightspeed
 
Here's the news article:

Today FM hosts abruptly taken off air and told to play music

One less Mediaworks outlet can't be a bad thing.
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Old 31st March 2023, 17:41     #43717
Ab
A mariachi ogre snorkel
 
Jesus Christ , this poor whale. How the fuck do you get over institutionalisation like this?

https://www.abc.net.au/news/2023-03-...cean/102172240
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Old 1st April 2023, 10:51     #43718
Ab
A mariachi ogre snorkel
 
Happy 25th birthday Starcraft. Yikes.
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Old 1st April 2023, 15:35     #43719
blynk
 
Saw quite a funny scene the other day. I saw a Mum and 2 kids riding their bikes along the foot path.
No one was wearing helmets, but the mum was wearing a facemask

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Old 3rd April 2023, 10:20     #43720
MadMax
Stuff
 
Updating the insurance on our old place for rental cover. AMIís webpage offers Facebook chat for making contact. Next thing I find thatís how you can do business with them.

Seems so weird to be arranging something as important as rental insurance over something thatís usually used for random shit.
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