Author Topic: California bank shuts down  (Read 311 times)

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Offline gypsyman

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California bank shuts down
« on: March 10, 2023, 04:11:41 PM »
 Silicon Valley Bank is shut down, bankruptcy. Bank had a run on depositors trying to get their money out before shutting down. Tech business's will be hard pressed to make payrolls. Monday should be an interesting day to watch the stock market. With interest rate's climbing, how many other banks will tighten their hold on assets trying to hang on. This will get interesting in the coming days.
We keep trying peace, it usually doesn't work!!Remember(12/7/41)(9/11/01) gypsyman
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Offline ironglow

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Re: California bank shuts down
« Reply #1 on: March 11, 2023, 02:07:58 AM »
Is this the start? News said yesterday that folks whom went for their mony from a NY City branch of SVB, were locked out and the cops called to disperse them.
 
  https://nypost.com/2023/03/10/nypd-called-to-silicon-valley-bank-branch-as-depositors-attempt-to-pull-cash-report/

  Will that happen to us one of these days?
If you don't want the truth, don't ask me.  If you want something sugar coated...go eat a donut !  (anon)

Offline Dixie-Dude

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Re: California bank shuts down
« Reply #2 on: March 11, 2023, 03:02:26 AM »
They raised interest rates too late to slow inflation and they haven't stopped raising them.  Emergency lower of interest rates would stop banks from failing and cause the stock market to boom.  The Biden administration doesn't understand this.  Acedemic theories don't work in the real workplace, which is what he has running the economy, not real world people.  Obama made this mistake and the economy was slow growing back.  It wasn't until Trump that the economy boomed.  China released the covid virus to stop Trump and cripple the west.  Can't make me believe otherwise. 
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Offline ironglow

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Re: California bank shuts down
« Reply #3 on: March 11, 2023, 11:28:25 AM »
  Biden recently announced that he was going to push for higher taxes on businesses, higher taxes on personal wealth and a corporate ta that is higher than his buddies have done in Communist China.

  He couldn't have made a worse move..but of course anything he does..is not HIS IDEA..but more the idea of the 
 most radical Democrats in the administration.

  Can anybody here visualize what these political animals would be capable of, were they ton gain full power?

  They would put Stalin, Hitler and Pol Pot to shame..
If you don't want the truth, don't ask me.  If you want something sugar coated...go eat a donut !  (anon)

Offline Ranger99

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Re: California bank shuts down
« Reply #4 on: March 11, 2023, 05:00:55 PM »
Too many people today that never
should have been allowed to progress
and pass grades in school when they
didn't learn anything.
Without "big" businesses, we don't have
an economy. There's no jobs.
People get warped over what the boss
brings home instead of worrying about
their own paycheck.
People bought cheap imported goods
to the point that you can't buy American
goods now because all the companies
have been moved offshore because we
didn't buy the goods made at home.
Stores are closing because people buy
everything online and when it comes
time that an actual store is needed,
there's not one. They're closed down.
This has been most evident to me
concerning local gun shops.
I used to tell everyone to keep patronizing
the local stores, and not go to bass
amateur shop and save 2 dollars, or
there wouldn't be a gun shop when you
really needed one. Well now that's come
to pass. There used to be a half a dozen
gun shops here within easy driving distance.
Now there's nothing, and you have to
go to one of the few big chains where
the personnel was hired from the same
labor pool as McDonald's hires from.

We brought it on ourselves.
There's not a local bank near here
that doesn't cater specifically to border
jumpers.  The tellers can't count
and all have those money counting
machines instead of a cash drawer
like they've used for decades.
Tellers and cashiers and clerks are
hired by their ability to speaka spaneesh

Yeah.  If I owned a bunch of businesses,
I'd close up and move overseas too
where the government wouldn't screw
with my ability to make a profit from
my money invested
18 MINUTES.  . . . . . .

Offline Dee

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Re: California bank shuts down
« Reply #5 on: March 11, 2023, 05:05:32 PM »
They raised interest rates too late to slow inflation and they haven't stopped raising them.  Emergency lower of interest rates would stop banks from failing and cause the stock market to boom.  The Biden administration doesn't understand this.  Acedemic theories don't work in the real workplace, which is what he has running the economy, not real world people.  Obama made this mistake and the economy was slow growing back.  It wasn't until Trump that the economy boomed.  China released the covid virus to stop Trump and cripple the west.  Can't make me believe otherwise.

Raising interest rates will not stop inflation. These people people in charge are idiots.
You may all go to hell, I will go to Texas. Davy Crockett

Offline ironglow

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Re: California bank shuts down
« Reply #6 on: March 12, 2023, 12:10:40 AM »
  From Ranger;

  " Without "big" businesses, we don't have
an economy. There's no jobs.
People get warped over what the boss
brings home instead of worrying about
their own paycheck."
  ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

   ...And these zombies who fret over how much the CEO takes home.. They are so upset over the boss's wages,
     that they are willing to hand over their hard won, blood bought freedoms to a bunch of oligarchs who meet in Davos each year.
   Oligarchs who are now setting up to dick-tate where they will live, how and when they will travel, govern their every move and even control what they will eat !
 
If you don't want the truth, don't ask me.  If you want something sugar coated...go eat a donut !  (anon)