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17 thoughts on “America’s banks are suddenly OK again”

  1. Master Slacker

    Surely Peter Thiel,after collecting on his SVB short, will be admiring himself and saying "timing is everything."

    1. different_name

      My personal favorite was Jason Calanais running around like he made first contact and screaming about the "disaster".

      These legends in their own minds are such incredible children.

    2. Eve

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  3. DFPaul

    Just listened to The Daily report on this. Of course it is vastly more salacious and less financially savvy than anything you'll read in here. Nevertheless, the salacious part was striking. I wonder if, when all is said and done, what happened here is Peter Thiel saw another business he wanted to take down for personal reasons... Sounds like the CEO of the bank was a fairly standard Silicon Valley party animal...

  7. Zephyr

    It's a wonder how quickly the government can act when rich people's money and status is at stake, costs be damned! It shows how foolish ordinary peons are to not be rich and well connected.

    1. Lounsbury

      utterly idiotic Left populist blithering - bloody well recall 2008 - the regional banks collapse risk not a matter of rich people's money, it's broad ordinary population, the "peons" that would suffer and badly.

      Had these collapsed you would be running to comment how the government didn't care about the ordinary joe.

      No wonder no power pays attention to you lot, what you dearly love is just moaning Woe is Us.

      1. Zephyr

        You mean "let us eat cake." It would be nice if they could act as fast on student loans, raising taxes to support Medicare and Social Security, and finally doing universal healthcare. Always too expensive, too much moral risk, just impossible.

      2. skeptonomist

        What was in danger in 2008 was the "shadow banking" sector. This sector got its money from asset-backed paper (assets being MBS's), not ordinary people's deposits. I think the Fed and the financial media deliberately exaggerated the threat to to "main street" banking in order to get support for bailing out investment banking.

      3. jdubs

        lol, we all must realize that bailouts (like tax cuts) lift all boats. The more targetted the bailouts, the more boats they lift! Rinse and repeat.

        The uninformed, leftist peons willmnever undertand how much benefit they receive when all of the 'ordinary people' with bank balances over $250,000 are bailed out. All thr ordinary Joe six packs with his very ordinary $7 million bank balances can breath a sigh of relief. Why dont these people get it?

        lolz, comical.

        1. jdubs

          Lost in the bailout of individual depositors was the Feds bailout of any similarly troubled banks, their executives and owners. The Fed promised to lend to banks at par value (instead of market value) so that banks can avoid taking losses on distressed assets.

          This might be good policy, but its certainly another bailout for more 'ordinary joes' , but only the ordinary joes with large ownership stakes in banks.

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