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Silicon Valley Bank Goes Under, Won't be the Last...


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2023 Mar 10, 9:47am   43,901 views  326 comments

by fdhfoiehfeoi   ➕follow (0)   💰tip   ignore  

To get out of the collapse in 2008, apparently the plan was to never raise interest rates again. Now that it's impossible, the bubble is moving to banks. Funny thing is, I had applied for an open position with them about a month ago. Now I know why I never heard back...

Oh yeah, and to once again blow away the bullshit about everyone being insured, read the article about how some depositors will have to pray dividend sales will someday return their deposits to them.

For some fun search bank run and see what some of the top images are.

https://www.zerohedge.com/markets/300-billion-reasons-why-svb-contagion-spreading-broader-banking-system


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324   fdhfoiehfeoi   2024 Apr 29, 9:38am  

Local credit union where I live has been taken over. Was already under restrictions about how much debt they could have due to failed audit(?) or similar by Feds a few years back. Before I chose a new local(semi-local) bank, took a look at their financials. This one hired some VP who didn't know lending regulations from his ass, so stayed away.
325   DOGEWontAmountToShit   2024 Apr 29, 9:44am  

NuttBoxer says

Local credit union where I live has been taken over. Was already under restrictions about how much debt they could have due to failed audit(?) or similar by Feds a few years back. Before I chose a new local(semi-local) bank, took a look at their financials. This one hired some VP who didn't know lending regulations from his ass, so stayed away.


What do.you mean by 'taken over'?

Did another credit union buy it?

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