most important thing to realize here is that signature, silvergate, silicone valley bank all did everything right. they are exactly in compliance https://www.zerohedge.com/markets/silicon-valley-bank-followed-exactly-what-regulation-recommended
the only difference from others is their customers needed cash
Has it been clarified why they all wanted their cash?
not officially but we know why silvergate customers wanted it.
silicon valley bank has many companies with declining revenue pulling down cash reserves and i do not know much about signature bank but i imagine many of their customers are having increased need to spend more money on higher devices and are drawing down reserves
"did everything right"?? THEY WERE INSOLVENT!
right? I mean, they could have parked money overnight in reverse repo facilities and had no problems with maturity mismatch. They did everything required of them. They didn't do everything right.
its ok more will be printed to steal from us and give to their customers
their customers look alot like Democrat political donors
that is the CFO of the companies job to decide on money market and repo allocation or treasury direct utilization not the banks
and what about ordinary people? pfftt
this is laughable
so let the banks fail! no more FDIC, no more bailouts! no more money printing.
You are defending the very system that enslaves you
“Costs and risks are socialized, and the profit is privatized. That’s called capitalism.”
Noam Chomsky
