1727 FDIC Unexpectedly Delays Bid Deadline For Silicon Valley Private Bank...No reason was given. (www.zerohedge.com) posted 75 days ago by ohpleaseuhhelpame 75 days ago by ohpleaseuhhelpame +1727 / -0 FDIC Unexpectedly Delays Bid Deadline For Silicon Valley Private Bank ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero www.zerohedge.com 73 comments share 73 comments share save hide report block hide replies
No bidders lol 😂
If they need money why don’t they just print more? Economics isn’t complicated.
May have to tap the strategic green ink reserves
Slate or The Atlantic, probably
Well, no bidders from Biden's "approved" list.
I'm sure his bidders where there but were out bid by white hats. Can't have that. Just like when obama and joe took out vocational schools for barry's buddy. Took over the schools for pennies on the dollar.
I bid -100 billion dollars
I'd bet your kiddo has more financial sense than the mongoloids running this shitshow.
They were woke, which is ignorance in action, and not just necessarily stupid, though the two do seem to go together.
You need a certain willingness to ignore reality, and thereby wish what you want into existence, regardless of the laws of nature and man.
So, of course an ESG bank placing limitless money into traditionally skeptical projects will only prosper.
He sure as hell has a higher net worth considering its actually positive
Even $1 is too much.
To be fair, $1 isn’t worth very much any more either.
Actually that would be the best $1 investment in my life.
Imagine: Buy it, then close it in 1 day and thousands of climate hoax companies don’t have their account.
$1 should be enough. HSBC paid £1 for the UK part of SVB.
$1 investment in SVB. How much saved in climate taxes? 1000% return?
I’m up to buy the US part. Where should I sign?
The reason is Elon may expose the grift and corruption excuse.
Maybe Elon has McAffee's 31+TB of data?
Wasn't that supposed to have a "dead-mans switch" that never happened?
McAffee, God love him, was unfortunately not very reliable (with a bit of a substance abuse problem). I suspect he talked bigger than he could deliver.
True, but I think most people would be unable to deliver if the entire intelligence community of multiple countries was dedicated to disarming their dead man’s switch and taking them down.
Maybe, it really depends how it is implemented.
Don't be an ETard! I swear, the EAnon's are trying to take over this site!
Surely not everyone was Kung Flu fighting.... Nowhere did I say he was going to buy that albatross. I do think that those in recievership will scrub the place as not to be exposed like twitter was when they were bought out. The left protects the left.
Monday morning will be more bank failures .
Six hundred and sixty six
build back better
May as well be.
I'd be more worried if I didn't have no more than a thousand dollars in the bank at a time for online purchases with the rest in a safe.
It's because Musk was a bidder
An outsider made the highest bid.
I'll give them tree fiddy
Damn you, Loch Ness Monster!
I fail to understand how the depositors were protected if no one ever bought off SVB's assets...If no money was produced when everyone agrees they didn't have enough to cover depositors, where did the money that was paid to them come from?
Basically the FDIC and the Fed will "eat the loss" so to speak. The FDIC will use the insurance fund for all deposits above the FDIC limit. The Fed will lend out against Tier 1 capital based on PAR value, not market value.
Yes, but it can only eat losses so far until the taxpayers come into the picture. The FDIC has a fund called the Deposit Insurance Fund (DIF), which is funded through insurance premiums paid by banks that participate in the program. The DIF is designed to protect depositors in the event that an insured bank fails. However, the fund has a limit, and it may not be able to cover losses in the event of a widespread banking system failure. In such a scenario, the government may need to step in and provide additional support to stabilize the financial system.
Right, this is how we ultimately end up paying for it. There will be some fancy “American Financial Stability” Bill to ensure a sound banking system and will only cost a few trillion and somehow erode more rights and freedoms in the process. Oh and establish a CBDC and outlaw Bitcoin because MUH climate change.
I remember seeing something about them wanting to charge a “special assessment” to make up for the extra funds they’re covering due to these recent bank failures
Correct it's insurance fraud.
They are l y i n g. How do people still believe an illegitimate government that clearly cannot keep the lights on?
The lie is that this is a "free lunch". I'm just describing the mechanism by which they are covering deposits. The other side of the ledger is figuring out how they cover the losses (taxpayer bailout or massive assessment on all other banks which trickles down to all bank customers) because there are lots of losses.
Ultimately it’s the taxpayers that are “eating the loss”
Right now it’s just a verbal guarantee by the FDIC that was made before markets opened Monday to hopefully prevent a widespread bank run. Ultimately if any depositors need to actually be covered, the fdic will do so then run a special assessment on all other banks in the US to cover it. Main Street USA will be bailing out Silicon Valley venture capital
Maybe one of their friends didnt bid?
Cmon brah you'll get some of the best employees ever.
It's a scam.. worthless... the guarantee is 250,000.00. STICK to it.
It's fraud, insurance fraud to be more specific.
I have a relative that works at SVP...such a condescending, arrogant person. I love standing back on the sidelines and watching them panic after hearing nothing but anti-Trump, Pro-vaxx bullshit for years.
They have realized that, like Twitter, evidence of the corruption has stained the very walls and can't be shredded or hidden, and it will be exposed - if they don't find just the right buyer - a Pelosi or Soros Corruption Class buyer.
Wuh woh, too bad Larry Fink fucked himself with his ESG phase so he can't cover them now.
If the banks die, the beast dies.
The Fed raised rates again, causing those treasures and bonds to be worth even less
I m a g i n a t i o n m o n e y
Our government (and its agencies) are about as transparent as drywall painted black.
Or even drywall painted any other colour
Could this be a political hot potato? Why is the Biden admin playing favorites? Why did signature bank get the same deal when they weren't insolvent? Is Elizabeth Warren and her benefactors trying to make an end run on cryptos? Why are they making ceasing crypto operations part of the sale? Is their playing favorites part related to crypto? It's scandalous that they are actually preventing the sale. I doubt the answer will be clear but their actions in this are far too out in the open to be the actions of a confident actor.
But nothing's happening
FDIC got a hangover?
Elon getting cock blocked
I guess they want to tank the selling price so some Dem donor can get it for cheap.
Need more time to hide stuff ...
They came up short.... Bankman-Fried kind of short.
I bet it's to consolidate all the failed/failing under one name, so they can hide the others
IMO, either the bidders need more time or, more likely, the details of the offer are damaging (much like the Credit Suisse deal was to the bond holders) and they don't want that news to break during the trading week.
They have to launder more money to Ukraine first!
Wonder if it's related to this.