The new one will love you as soon as she/he learns you put food on the table, in a manner of speaking.
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innerrestin’
.
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“It’s like putting somebody in jail for a potential murder that they might do,” he said Friday.
Or like paying property taxes on your home. Where is the GOP outrage over property taxes?
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I am trying to think of the last time I saw a Republican support any kind of a tax that wasn’t a completely regressive dump on average income people.
Still trying.
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I’m pretty sure GOP Tejas will greet that with silence.
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“Will no one think of the poor billionaires?”
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No, this is the usual chart of a bank that has many $ in current deposits but invests those $ in long term, illiquid assets. A quick bunch of withdrawals creates not enough liquid cash reserves, and the bank fails. Thank God for the FDIC (one of FDR’s “socialist” programs); anybody with a brain doesn’t keep over $250,000 in any one bank.
For stockholders: they will recoup by “writing off” losses. When you buy stock you do risk 100% of your investment.
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Before I catch an @, it’s rare to read about a purple district saying something stupid.
Murphy though, he doesn’t have any fear.
Same for Boebert (Fritsch is a supposed fluke).
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She was the smartest little dog ever. Eager to please, always happy to help.
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Oh she loves us alright, it’s embarrassing. She will not be left alone in the house while we are home - in your lap or up behind you wherever you are sitting. If we leave she sits in the window watching without leaving until we come home.
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Spoken at least twice in the same hearing:
"…like putting somebody in prison before they’ve done the murder.”
How many times will that soundbite be played on Faux Noise tonight? Anyone betting on this guy making an appearance on the prime time shows and repeating this a few times in his interview?
Incendiary, I tell you - this will just light up the minions.
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Aisle 5B, about halfway down.
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The opposite happened. SVB was invested in short term t-bills. When interest rates rose, the value of those t-bills dropped. Which is ok, conservative investment performance variance will happen within reason, they would have ridden it out and rolled them over into t-bills at current rates. But… a bank run on them started, and instead of letting the t-bills mature they were forced to sell the t-bills at a loss to cover depositors’ withdrawals. Bank run snowballs, now everyone wants their money out and the bank is technically underwater. Bye, bank.
BTW, SVB’s customers are mainly high tech startups. This is not your local S&L issueing CDs, and it is passing idiotic to think that a startup that just got $2 to $10 mil from their investors should spread that money among 8-40 banks for FDIC reasons. Their own investors would call an immediate board meeting to ask them what the fuck they were doing and could they kindly focus their energy on building the next great thing,
For stockholders
The SVB stockholders will get nothing, not even the office furniture. Which is as it should be.
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I can think of one purple state’s senator…
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The State of California stepped in and shut them down to stop the bank run. They’ve been put into bankruptcy and that’s how the FDIC got involved. FDIC is handling the bankruptcy receivership
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Funny thing is…the profits never did.
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“Again, it’s like putting somebody in prison before they’ve done the murder.”
He continued “…and who would want to stop someone from committing 100 million murders?!?”
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it’s like putting somebody in prison before they’ve done the murder.”
I wonder how he feels about putting a suspect in prison, without bail, pending trial. Cuz ya know, he might not have done that crime either.
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