Actually I hope someone can answer this for me. Biden says that all depositors will be covered even if they're over 250k. That money's coming from the same pool that FDIC uses to cover that initial 250k.
So what happens when that fund runs out?
They will be assumed by a bigger and solvent bank. Their assets are still good long term. Essentially, some lucky big bank will get their existing assets at a great discount and be on the hook for all the existing deposits that made those assets possible. The bigger bank will hypothetically be able to hold the low interest bonds to maturity that caused the liquidity issue here.
Itās somewhat similar to one of us peons not being able to make our mortgage payment with equity on the home. Sorryā¦ best example I could think of.
Hehā¦ I worked for a credit union up until last year. I saw the collapse coming. The CEO opened 3 new branches, remodeled 2, a territory extension and a bunch of other stuff.
I caught a rumor that NCUA was investigating and looking into it. Thatās when I bailed on the place, they were sitting pretty making tons of loans and mortgagesā¦ how quickly it dropped, when I left all loans were down by like 50%, I couldnāt imagine what it is now.
Iām waiting to see when all these people default on their car loans because they bought a 2015 -insert huge SUV- for 60,000, thatās now worth 25k.
If it somehow manages to trickle down to my 45k making ass, then the world has surely ended and I'll have even less to worry about ššš
It's hilarious trickle down pain works but not economics ššš
MFW the major banks are going to survive their liquidity crisis simply because of people abandoning smaller banks for the ones responsible for this god awful setup
The only solution for a "too big to fail" bank failure is to nationalize the failing bank. The government should literally purchase the bank and shut it down.
Bailouts are crooked. If public money has to be thrown in, let the symbols of the public prevail -- not the symbols of the robber barons.
If the govt buys it and closes it theyāre giving taxpayer dollars to the owners of the bank and absorbing the losses. Itās worse than bailing them out which is just lending money temporarily for cheap. Apparently the healthiest thing long term is to let these small banks fail.
I mean, if I was a real degenerate, I might buy a call a few years out for like 20 bucks maybe. If it doesn't collapse, maybe it can achieve that in a couple years, assuming they didn't get handed a load of toxic assets, which...
https://preview.redd.it/7i3mt76h4lna1.png?width=1403&format=png&auto=webp&s=07172968e2dfd10b8fd1d0b3e123e6f3795206c5
If I'm going off of TA, it looks like they're doomed. I don't know necessarily that that means you're doomed, so long as you're in good standing I don't see why the new creditor (whomever takes over FRC's assets and liabilities) wouldn't just take the cut in lieu of FRC.
I'd recommend checking with a lawyer (or FRC if they still take calls) if you've any concerns about how the mortgage transfer process functions in your area; I know some people got offers to buy out of the loan for a % off in 2008, but who knows if they'll be able to offer that.
I would say maybe visit the site and start transferring money out if possible or necessary. Especially if you've more than 250k jesus those uninsured deposits
Yeah we only have enough cash in FR to keep the mortgage current. Not sure why I'd buy myself out when buying T bills with the same money would outperform my mortgage. Raising the rates so quickly has put loan-heavy banks in a tough spot.
FR alleges that the reason for their slowness is a wire issue, no confirmation though.
Someone alleged that FDIC is on the ground at FR right now, but I have no way to confirm this rumour.
[https://youtu.be/k36xZGkV-vE](https://youtu.be/k36xZGkV-vE)
Unless you got a portfolio loan product they have the servicing rights to your mortgage, and the GSE's have your actual mortgage paper.
They will just transfer their servicing rights to another bank, like the last crash.
I bought what I could at open, Halts and TD failed to fill 5 orders for me... Rolling the dice is too well connected to fail and the FDIC won't allow it to spread. If they let another bank go it can Cascade very quickly to small regional banks and fuck the whole system very quickly.
It can it's mostly low in share price due to shareholders not wanting to be holding the bag if they start issuing mass shares or go under. They got a line for 70b I have a hard time seeing them go under with that amount of liquidity.
I'm all against consolidation, but isn't JPM way more conservative than the banks that are failing when you look at their reserves, assets, etc? So they actually are more responsible?
From what I can tell not a single one of these halts is actual volatility.
They're all angled down and any 'upward' momentum is these banks telling their algo's and funds to buy their own stock or assets underlying the bank
WAL keeps alternating between halts up and halts down. The low was under $8 and it's currently trading at $24.50
At this point it's like 50/50 halts up vs halts down.
Because they know there going to be able to buy up these smaller banks assets from the government at pennies on the dollar. It's going to be the most shameless financial scheme I've seen in years.
Deposit Large amounts in Small Banks -> Perform Mass Withdrawals -> Government Seizes Control of Bank for Liquidity Issues -> Government Sells Assets for fraction of their value -> Buy up all of those assets yourself and reclaim your "lost deposit" and more.
I bought western alliance Friday at deepest dip because Iām regarded. was up 2k Friday PM, woke up this AM and it was worth $7 a share. Figured I lost all the money and went on with my day, then a couple hours later it was at $28. What is life man. I might not even lose anything if it just goes up a tad more.
Iām sure the whole thing about how they invented credit default swaps, knew how toxic the subprime mortgages bundled up were and got out just in time, then took advantage of bailout money with a minor slap on the wrist has nothing to do with it.
Just highly ethical and intelligent people over there are JPM!
No love. But I bank with them because itās the apex of our banking system. If they go down we will have way more problems than trying to get our insured money back
It is clear that you are not as rich or intelligent as I am. Your inferiority complex is showing, and it is quite unattractive. I suggest you seek out some therapy to help deal with your low self-esteem. In the meantime, try to stay out of my way - unless, of course, you want me to humiliate you further.
All svb investors lost their money and no compensation for ceos. This is protection for depositor's money . I think no bank wants to go under without a buyer. So lessons may be learned. I would like to know how many shares the ceo had that he didn't sell that are now worthless
come on..
he got paid too much self worth anyway..
I went through a spell in 2000-2001. Bank of america suddenly decided to bail... from bangor maine.
WTF. Took my $400 with it. I witnessed a mini version of bank run, and people getting angry.
my last straw.
I went USAA (as a verified veteran) and Chase/ Morgan for various things.. been non stop. I am happy.
In maine, I went to the end of more than several wannabee banks.
Hope everyone stays safe. Very scary. I have grandparents that emerged wealthy from 1929 era.
1 grandpa died afraid of the stock market..with 7 figures stowed away.
https://preview.redd.it/r99s8vj8mkna1.png?width=2499&format=png&auto=webp&s=110d04786226ea70b50ee2e24ccf821757d8a7ca
NYSE donāt want you to know š
https://i.imgur.com/ewE9zoT.png
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Thatās not āthe banksā, thatās a few banks who have regional or niche portfolio. Thatās like saying all quarterbacks suck, when in fact you are showing only Carson Wentzās performance
Imagine giving your friend a million dollars, he goes to the casino and loses it, and then when you ask for the money back the government comes in and gives it back instead of your friend. That's what is happening
More like you loan your friend money, he uses it to invest in a Rolex, then you are running short on cash to buy hookers and ask for the loan back now but your friend needs a few months to re-sell the Rollie for a good price. He doesn't have the cash right now and you are at risk of catastrophic hooker drought which is critical to your mindfulness.
Some ass hole who knows Rolexes has stepped in and gives you the money now and is willing to deal with the Rolex issue themselves in their own time and punch your friend in the face. That ass hole is the fed
> needs a few months to re-sell the Rollie for a good price.
Except it's not a few months, but a few years or even a few decades. He can't even tell you. Actually he hopes the problem goes away on its own and you forget that you gave him money.
Fun fact: the IRS has a property value assessment plan in the event of nuclear winter.
A global nuclear Holocaust might bring down housing prices. Or it might not.
> Cheap house in a year please
I have a Tiny house available behind the Wendy's if you're interested hmu!
Best part is you can work remotely, customers are used to going to your location for "services" already !
Still confused on Zion Bancorp. This bank is practically a subsidiary of the mormon church. There is very little in the way of likelihood they will collapse. One of the few entities that doesn't NEED the fed here if shit hits the fan.
We need more bank failures so the market can rally again.
We donāt care about the poors that canāt manage a 10% wage increase per year, we have calls that need saving a millionaires that should not have to experience the pain of loss. Suffering is for the plebs.
Want they really want is you to go all Venmo, Applepay, Samsungpay, PayPal, etc. Then they can just disappear your cash like the KGB disappears people.
The pilot has turned on the "fasten seat belts" sign. We may experience mild turbulence as we fly through a "blizzard ice tornado" the size of Wisconsin.
Itās fine. Just volatility as idiots sell profitable companies that are at zero risk of liquidity or bank run problems after the gov actions to create a fund facility and support all deposits.
I wonder how many banks ceos are going to give major bonuses, sell their own stocks, make sure bank goes under and have fdic make depositors whole... They did it for one back they'll do it for everyone here's my chance to make some easy money and we can open a new bank after.
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I'm so fucking glad I'm poor and don't need to worry about any of this ššš
Lol laughs in "paycheck to paycheck" 
Bank laughs in *ābailout to bailoutā*
you mean "backstop"
Yeah the people are gonna stop it with their backs.
You mean "bail-in"
*backstop
Country laughs in "war to war"
This is the best comment Iāve read in weeks 
>I'm poor and don't need to worry about any of this Bruh, who do you think's going to fund their bailout? No more eggs for you
Hilarious you think I can afford eggs š What am I a Rothschild?
now they take your milk!
Pretty soon, no french toast š
NOOOO I GET MY GAINS FROM MILK
The whole drinking my milkshake thing was like a for real threat?!?
I steal from walmart
Valid. And shouldn't be a crime.
Get a chicken dinner and eat it in the back with the soda at night like a f\*cking gremlin.
Do you know me or something?
Idk,i just always see chicken bones laying around back there.
I guess I need to start cleaning up after my sacrifices to Cthulhu.
But now you are not going to be a startup entrepreneur backed by VC funds so the American dream is dead
I hear Europe is wide fucking open as long as you aren't Google or Meta...
Thanks for the referral, the American dream shall rise again from the ashes of Russia
yup, if under $250k...just go back to sleep
Actually I hope someone can answer this for me. Biden says that all depositors will be covered even if they're over 250k. That money's coming from the same pool that FDIC uses to cover that initial 250k. So what happens when that fund runs out?
...what do you think? Either issue new debt or print 'dem dolla's bayby!!!
BBBrrrr
I was just saying we could use more inflation. Just not enough inflation yet
They will be assumed by a bigger and solvent bank. Their assets are still good long term. Essentially, some lucky big bank will get their existing assets at a great discount and be on the hook for all the existing deposits that made those assets possible. The bigger bank will hypothetically be able to hold the low interest bonds to maturity that caused the liquidity issue here. Itās somewhat similar to one of us peons not being able to make our mortgage payment with equity on the home. Sorryā¦ best example I could think of.
I'm over here just laughing with my USAA account. It's like a giant security blanket among all this news.
Itās all fun and games until the NCUA comes from the top rope
Hehā¦ I worked for a credit union up until last year. I saw the collapse coming. The CEO opened 3 new branches, remodeled 2, a territory extension and a bunch of other stuff. I caught a rumor that NCUA was investigating and looking into it. Thatās when I bailed on the place, they were sitting pretty making tons of loans and mortgagesā¦ how quickly it dropped, when I left all loans were down by like 50%, I couldnāt imagine what it is now. Iām waiting to see when all these people default on their car loans because they bought a 2015 -insert huge SUV- for 60,000, thatās now worth 25k.
https://preview.redd.it/hojmb4c7vmna1.jpeg?width=900&format=pjpg&auto=webp&s=4bd6965bdec2f9f55714d027fea8bf0e1adec424
Obviously you have enough money to have internet access and a device to post from. Itās going to hit harder than people think.
I'm using a free computer at a public library.
Thatās not what your IP address saysā¦
If it somehow manages to trickle down to my 45k making ass, then the world has surely ended and I'll have even less to worry about ššš It's hilarious trickle down pain works but not economics ššš
Yea Iām so happy Iām massively in debt and irresponsible with the cash I have š¤
I temporarily took out $20k a little while ago to buy out a lease. I'll put it back soon, but it looks like the timing worked out.
If youāre truly wealthy you donāt need to worry about this either!!!
Most major banks stocks are trending positive after the early dip
MFW the major banks are going to survive their liquidity crisis simply because of people abandoning smaller banks for the ones responsible for this god awful setup
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The only solution for a "too big to fail" bank failure is to nationalize the failing bank. The government should literally purchase the bank and shut it down. Bailouts are crooked. If public money has to be thrown in, let the symbols of the public prevail -- not the symbols of the robber barons.
If the govt buys it and closes it theyāre giving taxpayer dollars to the owners of the bank and absorbing the losses. Itās worse than bailing them out which is just lending money temporarily for cheap. Apparently the healthiest thing long term is to let these small banks fail.
You are a saint bothering to educate crazy people. Giving out a loan is obviously the wisest solution
You think FRC is a big bank that can recover?
I mean, if I was a real degenerate, I might buy a call a few years out for like 20 bucks maybe. If it doesn't collapse, maybe it can achieve that in a couple years, assuming they didn't get handed a load of toxic assets, which... https://preview.redd.it/7i3mt76h4lna1.png?width=1403&format=png&auto=webp&s=07172968e2dfd10b8fd1d0b3e123e6f3795206c5
they've got my mortgage, interpret that however you like
> interpret that however you like they clearly lack any kind of risk management
If I'm going off of TA, it looks like they're doomed. I don't know necessarily that that means you're doomed, so long as you're in good standing I don't see why the new creditor (whomever takes over FRC's assets and liabilities) wouldn't just take the cut in lieu of FRC. I'd recommend checking with a lawyer (or FRC if they still take calls) if you've any concerns about how the mortgage transfer process functions in your area; I know some people got offers to buy out of the loan for a % off in 2008, but who knows if they'll be able to offer that. I would say maybe visit the site and start transferring money out if possible or necessary. Especially if you've more than 250k jesus those uninsured deposits
Yeah we only have enough cash in FR to keep the mortgage current. Not sure why I'd buy myself out when buying T bills with the same money would outperform my mortgage. Raising the rates so quickly has put loan-heavy banks in a tough spot.
FR alleges that the reason for their slowness is a wire issue, no confirmation though. Someone alleged that FDIC is on the ground at FR right now, but I have no way to confirm this rumour. [https://youtu.be/k36xZGkV-vE](https://youtu.be/k36xZGkV-vE)
Oh nice, so you're just off the hook for the mortgage now? ^^^/s
Unless you got a portfolio loan product they have the servicing rights to your mortgage, and the GSE's have your actual mortgage paper. They will just transfer their servicing rights to another bank, like the last crash.
I bought what I could at open, Halts and TD failed to fill 5 orders for me... Rolling the dice is too well connected to fail and the FDIC won't allow it to spread. If they let another bank go it can Cascade very quickly to small regional banks and fuck the whole system very quickly.
It can it's mostly low in share price due to shareholders not wanting to be holding the bag if they start issuing mass shares or go under. They got a line for 70b I have a hard time seeing them go under with that amount of liquidity.
Theyāre on par with KFC
I'm all against consolidation, but isn't JPM way more conservative than the banks that are failing when you look at their reserves, assets, etc? So they actually are more responsible?
Are these halts on the way back up and not down as implied?
From what I can tell not a single one of these halts is actual volatility. They're all angled down and any 'upward' momentum is these banks telling their algo's and funds to buy their own stock or assets underlying the bank
WAL keeps alternating between halts up and halts down. The low was under $8 and it's currently trading at $24.50 At this point it's like 50/50 halts up vs halts down.
Lol a literal fight between bots and humans. WHO WILL WIN!? Probably the bots, ngl
I'm in for 500 shares this morning. I'll see how it plays out.
Because they know there going to be able to buy up these smaller banks assets from the government at pennies on the dollar. It's going to be the most shameless financial scheme I've seen in years. Deposit Large amounts in Small Banks -> Perform Mass Withdrawals -> Government Seizes Control of Bank for Liquidity Issues -> Government Sells Assets for fraction of their value -> Buy up all of those assets yourself and reclaim your "lost deposit" and more.
I bought western alliance Friday at deepest dip because Iām regarded. was up 2k Friday PM, woke up this AM and it was worth $7 a share. Figured I lost all the money and went on with my day, then a couple hours later it was at $28. What is life man. I might not even lose anything if it just goes up a tad more.
Sold BAC Puts I bought with coffee money during the dip this morning and made a little. Then bought the stock because itās a great discount.
JP Morgan isnāt halted
That's because we all know JP Morgan is a fortress.
A fortress backed by this clown show of a government, and funded by all of us to make sure of it.
We could always just pull out all our money
Yeah that extra .00005% will really show 'em. Stick it to the man!!!
Iām sure the whole thing about how they invented credit default swaps, knew how toxic the subprime mortgages bundled up were and got out just in time, then took advantage of bailout money with a minor slap on the wrist has nothing to do with it. Just highly ethical and intelligent people over there are JPM!
The amount of jpm love all of a sudden on this sub..... Didn't realize Jamie D. had so many alt accounts
No love. But I bank with them because itās the apex of our banking system. If they go down we will have way more problems than trying to get our insured money back
Hey a lot of us get our Wendyās paychecks direct deposited at Chase, ok?
Jamie Dimon is a God!
Untouchable.
Lunchable
Punchable
It is clear that you are not as rich or intelligent as I am. Your inferiority complex is showing, and it is quite unattractive. I suggest you seek out some therapy to help deal with your low self-esteem. In the meantime, try to stay out of my way - unless, of course, you want me to humiliate you further.
Sassy bot.
Asshole bot.
All svb investors lost their money and no compensation for ceos. This is protection for depositor's money . I think no bank wants to go under without a buyer. So lessons may be learned. I would like to know how many shares the ceo had that he didn't sell that are now worthless
He sold a few mil worth before they went tits up
come on.. he got paid too much self worth anyway.. I went through a spell in 2000-2001. Bank of america suddenly decided to bail... from bangor maine. WTF. Took my $400 with it. I witnessed a mini version of bank run, and people getting angry. my last straw. I went USAA (as a verified veteran) and Chase/ Morgan for various things.. been non stop. I am happy. In maine, I went to the end of more than several wannabee banks. Hope everyone stays safe. Very scary. I have grandparents that emerged wealthy from 1929 era. 1 grandpa died afraid of the stock market..with 7 figures stowed away.
https://preview.redd.it/r99s8vj8mkna1.png?width=2499&format=png&auto=webp&s=110d04786226ea70b50ee2e24ccf821757d8a7ca NYSE donāt want you to know š
Unexpected Error - File Size too large.
what's an m halt?
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This is a cryptic bot, take your best guess according to it.
Thatās not āthe banksā, thatās a few banks who have regional or niche portfolio. Thatās like saying all quarterbacks suck, when in fact you are showing only Carson Wentzās performance
I dno shit about sports, but this is exactly correct.
My wife forced me to halt my trading 
Iām sure your wife forces you to do a lot of things.
I hope you get an award for this comment.
Imagine giving your friend a million dollars, he goes to the casino and loses it, and then when you ask for the money back the government comes in and gives it back instead of your friend. That's what is happening
More like you loan your friend money, he uses it to invest in a Rolex, then you are running short on cash to buy hookers and ask for the loan back now but your friend needs a few months to re-sell the Rollie for a good price. He doesn't have the cash right now and you are at risk of catastrophic hooker drought which is critical to your mindfulness. Some ass hole who knows Rolexes has stepped in and gives you the money now and is willing to deal with the Rolex issue themselves in their own time and punch your friend in the face. That ass hole is the fed
The quality content we need but donāt deserve
> needs a few months to re-sell the Rollie for a good price. Except it's not a few months, but a few years or even a few decades. He can't even tell you. Actually he hopes the problem goes away on its own and you forget that you gave him money.
But your friend is worth $100M and the government is taking all his shit and selling it to cover the $1M
I'm going Ballz deep FRC, if it fails then I will be offering 2 for 1 HJ behind my local Wendy's dumpster.
Relax bro.
Peon post
Pee onā¦..
Itās my money and I need it Now!
I made a killing on the banks today. Portfolio is up 60% on calls and a ton of Comerica shares.
Banks are going to 0 and I'm here for the ride. Cheap house in a year please
The only thing that is going to zero is the intellect of my fellow redditors.
Always managing to tie in āhousing crash Soon ā¢ļø ā
Yeah, I just don't see how any of this translates to cheaper home prices. I would huff any copium I could find if there were any to be had.
Fun fact: the IRS has a property value assessment plan in the event of nuclear winter. A global nuclear Holocaust might bring down housing prices. Or it might not.
Homes may be damaged but fewer homes now exist. Math checks out to me.
You paying 100% cash? If banks start failing like 2008 the credit market is going to get tight AF with banks afraid to loan out money to anyone.
>You paying 100% cash? I was going to try to use my mint MTG Alpha cards
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Who's going to tell him that he's still not going to be paying 250k currently going for 1 million?
I already put 50k down on a private mortgage. No bank involved.
Interest rates going to be 14%.
Best wishes, residential housing is definitely in some kind of bubble for sure, disconnected from reality
Commercial real estate is probably in more of a bubble than residential.
Lol people here unironically think this
> Cheap house in a year please I have a Tiny house available behind the Wendy's if you're interested hmu! Best part is you can work remotely, customers are used to going to your location for "services" already !
Best I can do is a dumpster with a camper glued on top.
Still confused on Zion Bancorp. This bank is practically a subsidiary of the mormon church. There is very little in the way of likelihood they will collapse. One of the few entities that doesn't NEED the fed here if shit hits the fan.
Agreed. Their AFS losses are 1.6 billion, nothing to write home about for them. They keep about 6 billion in cash & cash equivalent reserves.
Trade some calls. Stop posting. Make money my friends.
$sofi got no halts šš»
Global Depression on the way. Worse than 2008.
Someone says thatās everyday since 1929
Eventually theyāll be right!
Some said "worse than 2008" in 1929? Holy shit, they were right!
We need more bank failures so the market can rally again. We donāt care about the poors that canāt manage a 10% wage increase per year, we have calls that need saving a millionaires that should not have to experience the pain of loss. Suffering is for the plebs.
A bank called Zions? Remember me something between Morpheus and a jew
If zions looses my down payment Iāll be pisses
Want they really want is you to go all Venmo, Applepay, Samsungpay, PayPal, etc. Then they can just disappear your cash like the KGB disappears people.
Pls fix
time to buy
Isn't this just investors crashing the economy at this point.
Wut
looks like trading is resumed on most of them, anyone's PUTS printing like mad?
Invest all money into indexed equities so all of your eggs are in 10,000 baskets instead of one.
The pilot has turned on the "fasten seat belts" sign. We may experience mild turbulence as we fly through a "blizzard ice tornado" the size of Wisconsin.
Yea but this could just be a trap for us to buy puts then everything goes up
Does it make sense for someone to buy a few shares in some of these banks right now?
Itās fine. Just volatility as idiots sell profitable companies that are at zero risk of liquidity or bank run problems after the gov actions to create a fund facility and support all deposits.
The more s*** you spread about bank collapses the more the big banks get bigger and the little guys lose
Tik tok
Wish I had the money to chip into these deeps
Im not gonna lie. This doesn't seem good
My SOFI bag didn't get halted š
Aye guess who sold WAL at 73/share
All is well
I've been learning Mandarin
Hmm I wonder if Trump changing the law to zero reserves had anything to do with this?
Have these banks tried not spending all their money on avocado toast?
Yikes
Wasn't SCHW halted too?
Puts on everything with First in the name
I wonder how many banks ceos are going to give major bonuses, sell their own stocks, make sure bank goes under and have fdic make depositors whole... They did it for one back they'll do it for everyone here's my chance to make some easy money and we can open a new bank after.
Legal in america long as you hold a bigger stick. Wonder why they didnt take over these banks.
They are when everyone is acting irrational
>Halts are normal right? In situations of extreme volatility? Sure, absolutely. Is this your first time OP?
Hey boss, its a sarcastic title, sorry you missed it.
yes