Stock Market is ROCKING

[smokingman]

How is Credit Suisse effecting Swab?

Credit Suisse Ag/ ownership in SCHW / The Charles Schwab Corporation - 13F, 13D, 13G Filings - Fintel.io

Credit Suisse Ag/ ownership in SCHW / The Charles Schwab Corporation - 13F, 13D, 13G Filings - Fintel.io

fintel.io

Latest Disclosed Ownership

2,480,537 shares

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Hope people are still not relying on Charles Swab given they just announced more share purchases of Credit Suisse as Credit Suisse hit all time lows(my guess is to buy this gem today https://www.cnbc.com/2023/03/15/cre...-says-stock-has-overshot-to-the-downside.html ).

valued at $206,529,511 USD as of December 31, 2022(when it was valued just a tad higher).
Care to calculate Charles Swab losses since December?

 

[smokingman]

How does this help when banks have well over 600 billion on the books as undeclared losses?

SVB cash crunch highlights $620 billion hole in banks’ balance sheets

The spike in interest rates has been devastating for the value of their securities portfolios, meaning many carry around billions in unrealized losses that could pose a problem if funding dries up.

fortune.com

It is certainly not helping taxpayers or shareholders only those who had the right political affiliation and deposits.

The SVB bailout is sucking tens of billions out of the Treasury and giving it to the FDIC for depositors. See for yourself.

https://fsapps.fiscal.treasury.gov/dts/files/23031000.txt
Federal Deposit Insurance Corp (FDIC) 2,267(positive funds YTD) March 10th report

https://fsapps.fiscal.treasury.gov/dts/files/23031300.txt
Federal Deposit Insurance Corp (FDIC) 40,019 40,332(withdraws YTD)March 13th report
The reason for the two numbers on the second. 40,332 billion is YTD. 40,019 is this month so far.
I believe this is the first time that has ever happened(40 billion+in withdraws,not from the fund itself but the US Treasury).

This gem just hit at 4:45pm 3/15/2023
Guess someone noticed 40 billion stolen from taxpayers(besides me). Will be interesting to see tomorrows Treasury report.

FDIC returned $40 billion in U.S. Treasury funds, reversing withdrawal after SVB takeover By Reuters

FDIC returned $40 billion in U.S. Treasury funds, reversing withdrawal after SVB takeover

www.investing.com

 

[Ingomike]

And now with the investor bailouts it will discourage others from acting responsibly.

The transition to completely government run banks…

 

[ditcherman]

The transition to completely government run banks…

Why the purple tho?

 

[ditcherman]

This gem just hit at 4:45pm 3/15/2023
Guess someone noticed 40 billion stolen from taxpayers(besides me). Will be interesting to see tomorrows Treasury report.

FDIC returned $40 billion in U.S. Treasury funds, reversing withdrawal after SVB takeover By Reuters

FDIC returned $40 billion in U.S. Treasury funds, reversing withdrawal after SVB takeover

www.investing.com

Are they deciding to circle the wagons around their own little family instead of circling them around their bigger picture family?

 

[Libertarian01]

How does this help when banks have well over 600 billion on the books as undeclared losses?

SVB cash crunch highlights $620 billion hole in banks’ balance sheets

The spike in interest rates has been devastating for the value of their securities portfolios, meaning many carry around billions in unrealized losses that could pose a problem if funding dries up.

fortune.com

It is certainly not helping taxpayers or shareholders only those who had the right political affiliation and deposits.

The SVB bailout is sucking tens of billions out of the Treasury and giving it to the FDIC for depositors. See for yourself.

https://fsapps.fiscal.treasury.gov/dts/files/23031000.txt
Federal Deposit Insurance Corp (FDIC) 2,267(positive funds YTD) March 10th report

https://fsapps.fiscal.treasury.gov/dts/files/23031300.txt
Federal Deposit Insurance Corp (FDIC) 40,019 40,332(withdraws YTD)March 13th report
The reason for the two numbers on the second. 40,332 billion is YTD. 40,019 is this month so far.
I believe this is the first time that has ever happened(40 billion+in withdraws,not from the fund itself but the US Treasury).

I believe it helps because it reduces the risk of a run on banks. IF people think all their money is safe they are less likely to run and pull it out.

Economics has as much to do with emotion as it does actual spending needs.

I'm not saying it's the right thing to do, it is not, just that it may(?) help reduce worry.

Regards,

Doug

 

[Ingomike]

Why the purple tho?

Thought it might be too literal to the sensitive types…. LOL

 

[smokingman]

Are they deciding to circle the wagons around their own little family instead of circling them around their bigger picture family?

We will find out if a conservative run/leaning bank fails.

 

[smokingman]

Elizabeth Warren urges Fed’s Powell to ‘step back,’ recuse himself from SVB review

Democratic Sen. Elizabeth Warren tells FOX Business that some of Fed Chair Jerome Powell's banking policy "danger" has shown itself, and he should recuse himself.

www.foxbusiness.com

Ah,of course he is. He is looking into theft that you and your party benefitted(intresting word with two correct spellings) from. Trust me no one is more shocked he was willing to than me.

 

[bwillits]

It’s been a wild last few days as I was on emergency calls throughout the weekend and this week due to SVB and the banks. I rep all of the big investment banks and talk with their trade/structuring desks daily and am in their NYC offices regularly meeting with teams.

Someone mentioned something along the lines of how businesses should have $500k max at a bank. For starters, that’s hard to do when you have a ton of cash (think AAPL). With that said, you can have FDIC coverage for more than 250k at a single bank if you structure it correctly. I have nonprofits and endowments that have millions protected under FDIC at the same institution.

Although banks like SVB can cause significant ripples, I worry more about banks such as CS. They do have the advantage of having the Swiss economy dependent on them and have some special ties to the mid govt. With that said, seeing where they stack up from a credit rating compared to other banks and seeing their headlines def are more concerning than banks like SVB.

Just something to really make you scratch your head…

 

[1DOWN4UP]

Went to the ATM and this what I got.When did they put Biden on the hunna dolla bill?

 

[asevans]

 

[smokingman]

This gem just hit at 4:45pm 3/15/2023
Guess someone noticed 40 billion stolen from taxpayers(besides me). Will be interesting to see tomorrows Treasury report.

FDIC returned $40 billion in U.S. Treasury funds, reversing withdrawal after SVB takeover By Reuters

FDIC returned $40 billion in U.S. Treasury funds, reversing withdrawal after SVB takeover

www.investing.com

The system for daily US Treasury balances has changed. Not a little. Getting those two report the other day was very simple. Now I must learn the new system. If anyone wants to take a crack at it this is what it looks like now.

Daily Treasury Statement (DTS) | U.S. Treasury Fiscal Data

Daily cash and debt operations of the U.S. Treasury, including cash balance, deposits, and withdrawals; tax deposits and refunds; and debt transactions.

fiscaldata.treasury.gov

 

[dieselrealtor]

The system for daily US Treasury balances has changed. Not a little. Getting those two report the other day was very simple. Now I must learn the new system. If anyone wants to take a crack at it this is what it looks like now.

Daily Treasury Statement (DTS) | U.S. Treasury Fiscal Data

Daily cash and debt operations of the U.S. Treasury, including cash balance, deposits, and withdrawals; tax deposits and refunds; and debt transactions.

fiscaldata.treasury.gov

Almost sounds like they are trying to make it difficult, surely not.

 

[smokingman]

Almost sounds like they are trying to make it difficult, surely not.

If you can pull up the data for 3/15/2023 I will be impressed(says at the top it was the latest update).
I have yet to figure it out well enough to do anything but a quarterly report. All the reports at the bottom have nothing to do with the daily data set I have been looking at.

*edit. I figured out a work around kind of and have another report(edited the http text of an earlier report and changed it to 23031300 to 23031400 and it worked for the data up to the 14th,nothing on the 15th though and changing it to 5 takes you to a blank screen currently).
I do not see any refund of the 40 billion though. It is still listed as a draw from the US Treasury to the FDIC(on the 14th).
I think I just need to figure out the new system. It appears the old style disapeared the same day they claimed the FDIC refunded 40 billion(15th).

https://fsapps.fiscal.treasury.gov/dts/files/23031400.txt

 

[asevans]

 

[Libertarian01]

It’s been a wild last few days as I was on emergency calls throughout the weekend and this week due to SVB and the banks. I rep all of the big investment banks and talk with their trade/structuring desks daily and am in their NYC offices regularly meeting with teams.

Someone mentioned something along the lines of how businesses should have $500k max at a bank. For starters, that’s hard to do when you have a ton of cash (think AAPL). With that said, you can have FDIC coverage for more than 250k at a single bank if you structure it correctly. I have nonprofits and endowments that have millions protected under FDIC at the same institution.

Although banks like SVB can cause significant ripples, I worry more about banks such as CS. They do have the advantage of having the Swiss economy dependent on them and have some special ties to the mid govt. With that said, seeing where they stack up from a credit rating compared to other banks and seeing their headlines def are more concerning than banks like SVB.

Just something to really make you scratch your head…

That "$500k" was me. I get it. You can have multiple accounts with the same financial institution all individually insured by the FDIC.

My only point was that if they were going to do stupid to limit their stupid. If they were going to expose assets in an uninsured manner to limit the exposure. They did not. In my opinion they should lose everything that was over the $250k limit. But they won't.

Reagan was the first to bail out failing institutions. Then Bush Jr. Then Trump under Covid.

Fear drives us in bad directions. They bankruptcy system WORKS! It is slow and tedious, but it allows for people to experience the just consequences of their decisions and teaches others not to do it. Pain is a wonderful teacher. We are way to pain averse these days, regrettably.

Regards,

Doug

 

[Destro]

My only point was that if they were going to do stupid to limit their stupid. If they were going to expose assets in an uninsured manner to limit the exposure. They did not. In my opinion they should lose everything that was over the $250k limit. But they won't.

Many of them weren't "stupid", many of them were "required" to use SVB as their exclusive bank as a covenant in their loan agreements.

And since many of them were unique small business unlikely to get financing elsewhere, kind of limits your options.

 

[DadSmith]

Dear Mr. Smith,

Since you have written to me on important issues in the past I wanted to let you know that I am fighting to protect Hoosiers from big bank failures. Banks in good standing should not be responsible for footing the bill due to poor decisions by Silicon Valley Bank and Signature Bank. President Biden created this chaos with his inflation bomb spending agenda, and now he wants Hoosiers to pay for his coastal elite bailout through increased fees at their banks. I’m exploring legislative actions to make sure the costs of this bailout don’t get passed onto regular Americans. Please keep in touch with me on issues of concern to you. If I may ever be of service, please do not hesitate to contact me.

Sincerely,

Mike Braun
U.S. Senator

 

[nra4ever]

In case anyone missed it.