I wouldn't be surprised to see a few lines here and there.
We got in the habit of keeping just enough money in the cu to pay bills. The rest goes to cash. The Canadian trucker account freezes really struck a nerve with is.
I wouldn't be surprised to see a few lines here and there.
We got in the habit of keeping just enough money in the cu to pay bills. The rest goes to cash. The Canadian trucker account freezes really struck a nerve with is.
I really don't see any runs on smaller banks anytime soon. If anything, it'll be the bigger banks that had dealings with SVB bank...maybe a little fallout on Wall Street, too, but nothing most of us will see or be affected by.
I could be wrong....we'll see.
I, too, don't keep all my money in any bank, plus have a little silver and gold to get by with. However, I have invested heavily in lead and the means to move it quickly should the need arise....
"Valar morghulis; valar dohaeris."
Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable
Making good people helpless won't make bad people harmless.
Freedom isn't free.
"Attitude is the paintbrush that colors our world." TV Series, Haven.
My Spirit Animal has rabies.
I'd rather be an American than a Democrat.
"If you can make a man afraid, you can control him" Netflix Series, The Irregulars
I see more problems with the stock market due to the Fed raising the interest rates to slow inflation. How about getting the Government to actually cut spending instead of the lip service of cutting the increase. Still an increase and still killing the country, which does seem like their end goals. The banks thankfully should survive due actually maintaining secure investments.
Feds done a great job at it's number1 responsibility supposedly.....Keeping the value of the dollar steady.........AT about worthless that is! Notice when the fed is created we have the giant collapses in it's value. Coincidence right?
Last edited by 1 Patriot-of-many; 03-13-2023 at 12:17 AM.
https://www.cnn.com/2023/03/11/busin...ays/index.html Might be a good time to short ROKU stock. 26% of it's assets just went down the toilet.
Here's the real problem:
https://www.westernjournal.com/watch...vative-tribune
"Valar morghulis; valar dohaeris."
Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable
Making good people helpless won't make bad people harmless.
Freedom isn't free.
"Attitude is the paintbrush that colors our world." TV Series, Haven.
My Spirit Animal has rabies.
I'd rather be an American than a Democrat.
"If you can make a man afraid, you can control him" Netflix Series, The Irregulars
Yep, somehow I think people are still too stupid to see that orange man bad and bad tweets were better than The Great Liar and America Hater. Or giving him credit, Biden is too old, stupid, and brain dead to know better.Originally Posted by alismith
More effects of SVB folding:
https://www.wnd.com/2023/03/bank-sto...0d7e2da3bc2b28
Still, smaller, local, banks should be okay.
"Valar morghulis; valar dohaeris."
Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable
Making good people helpless won't make bad people harmless.
Freedom isn't free.
"Attitude is the paintbrush that colors our world." TV Series, Haven.
My Spirit Animal has rabies.
I'd rather be an American than a Democrat.
"If you can make a man afraid, you can control him" Netflix Series, The Irregulars
Well they bailed out SVB after all. All is well. We can sleep tight.
No they didn't, They bailed out all the lefty big depositors well beyond the 250K limit. Amazing how that works. The share holders, bond holders all got FUCKED, while management sold their shares and jumped out a month ago...... Kinda reminds me of GM. Shareholders and bondholders that are first in line in a bankruptcy got nothing, while the unions and GOV got everything. I'm a Teamster and I was disgusted.
Last edited by 1 Patriot-of-many; 03-14-2023 at 09:45 AM.
The only folks standing in line are the ones who won't get their money, everyone else took their money out in wire transfers cause they knew what was coming
Nothing to see here citizen...the Federal Reserve will protect you and yours with their invisible laptop muny
https://twitter.com/i/status/1635470213377323008
Great! I feel soooo much better now. I always knew our government would look out for our best interests. With Resident Biden's well-picked, highly capable administration, who has shown they are on top of things, I may have to vote a straight Commucrat ticket in the next national election.
"Valar morghulis; valar dohaeris."
Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable
Making good people helpless won't make bad people harmless.
Freedom isn't free.
"Attitude is the paintbrush that colors our world." TV Series, Haven.
My Spirit Animal has rabies.
I'd rather be an American than a Democrat.
"If you can make a man afraid, you can control him" Netflix Series, The Irregulars
What this all is looking like to me, is the fed is going to start taking over banks wholesale. MW Bank analysts reshuffle ratings in response to seismic shifts in industry
10:17 AM ET 3/13/23 | MarketWatch
By Steve Gelsi
Wall Street starts reworking bank ratings as analysts ponder 2023 banking-sector woes
With the demise of Silicon Valley Bank and Signature Bank and Monday's sharp drop in shares of First Republic Bank, analysts are reshuffling their ratings on bank stocks.
The moves come amid rapid developments in the banking sector, with the U.S. Federal Reserve announcing the new Bank Term Funding Program to help banks avoid the pitfalls of selling securities at loss, which was a trigger for the bank run at Silicon Valley Bank, a unit of SVB Financial Group (SIVB).
Also read: Silicon Valley Bank depositors will get 'all of their money,' regulators say
"Now that banks can pledge many types of assets to the Fed at par against the new Bank Term Funding Program, the risk that other banks could be forced to sell securities at losses ... and thereby impact capital levels has been minimized," Jefferies analyst Ken Usdin said Monday.
First Republic Bank's (FRC) stock absorbed a double downgrade at Raymond James as analysts pondered the impact of lower deposits at the regional bank, which does business with wealthy clients in Silicon Valley.
Now read: First Republic and Western Alliance shares paused for trading as regional bank jitters persist despite Fed backstops
Other stocks in the ratings spotlight include PNC Financial Services Group Inc. (PNC), Regions Financial Corp. (RF), JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC) and Comerica Inc. (CMA).
Citi analyst Keith Horowitz on Monday upgraded PNC Financial to buy from hold and reiterated his $175 price target as analysts assess the banking landscape after the demise of Silicon Valley Bank, Signature Bank (SBNY) and Silvergate Capital Corp. (SI) in recent days.
Also read: Crypto-friendly Signature Bank shut down by regulators after collapses of SVB, Silvergate
Citi analystHorowitz said PNC is part of the banking camp offering "a strong pair of hands," along with buy-rated Wells Fargo and JPMorgan Chase.
"PNC has a number of positives including larger benefit than most from asset repricing, looks good on our fair value analysis, clean asset quality, and strong deposit base ... the recent pullback we believe offers a good opportunity to buy one of the best management teams among the large regional banks," Horowitz said.
Regions Financial could be "the clear winner due to granular deposit franchise," along with Comerica, which "offers the best risk/reward," Horowitz said. PNC stock fell 2.2% in premarket trading.
Odeon Capital analyst Richard Bove downgraded Comerica, KeyCorp. (KEY) and Wells Fargo to hold from buy.
"American banks have refused to pass on to their depositors the increase in interest rates that they have benefited from," Bove said. "In addition, they have used accounting gimmickry in the publishing of their financial statements. Trust in the system may have dissipated, meaningfully."
He said it's likely the banking industry may see a wave of new regulations and congressional actions as repercussions continue in the sector.
KBW, meanwhile, recommended 11 financial stocks, including "haven" stocks U.S. Bancorp (USB), SouthState Corp. (SSB) and Old National Bancorp (ONB).
KBW also said stock losses by Apollo Global Management Inc. (APO) present "an attractive opportunity."
-Steve Gelsi
BTW Not a stock broker, but I suggest buying Us bank shares(USB) PNC also has been a solid leader if you buy stock. US bank is bargain basement right now at $37 a share or so. But of course with Bidens administration anything can happen now.
Financial disasters and bank runs (in one form or another) happen every 20 years or so.
Some are worse than others and it's inevitable there's going to be a global one at some point.
Cash on hand is good, durable goods are better, skills and knowledge are invaluable.
Holy Crap! is that Imhotep in a suit!?!
Thought Brendan Fraser kicked this guys ass in TWO movies...
You forgot stocking up on lead. It just might be a crucial commodity during critical times.Financial disasters and bank runs (in one form or another) happen every 20 years or so.
Some are worse than others and it's inevitable there's going to be a global one at some point.
Cash on hand is good, durable goods are better, skills and knowledge are invaluable.
Holy Crap! is that Imhotep in a suit!?!
Thought Brendan Fraser kicked this guys ass in TWO movies...
"Valar morghulis; valar dohaeris."
Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable
Making good people helpless won't make bad people harmless.
Freedom isn't free.
"Attitude is the paintbrush that colors our world." TV Series, Haven.
My Spirit Animal has rabies.
I'd rather be an American than a Democrat.
"If you can make a man afraid, you can control him" Netflix Series, The Irregulars
Just heard on the radio some of the biggest banks in the US are joining forces to save another bank. Wonder how that will play out.
"And how we burned in the camps later thinking, what would things have been like, if every security operative, when he went out at night to make an arrest, had been uncertain, whether he would return alive and had to say good-bye to his family?"
If you need a bank, put the $$ in a local credit union that is employee owned and they aren't beholding to stock holders demanding higher returns in a down turn economy
That being said, Coinbase is rocking today...woo hoo!
That would be First Republic. I grabbed some as a speculative move. Probably a dumb move, even with the news it's at $23 a share after a brief rise to $34 after the news.
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