|
||
Intermarkets' Privacy Policy Support
Donate to Ace of Spades HQ! Recent Entries
Mid-Morning Art Thread
The Morning Report — 3/21/23 Daily Tech News 21 March 2023 Monday Overnight Open Thread (3/20/23) Full Bloom Cafe Quick Hits Libs of TikTok's Book Event in New York City Cancelled Due to Credible Threats; Latitia James' Government-Sponsored Drag Queen Strory Hour for Children Goes Off Without a Hitch CNN's Vile Propagandist Manu Raju Spins for John Fetterman, Claiming His Health Is Just Terrific Media Declares Another Code-Red on DeSantis San Fransisco District Supervisor Has Completely-Unexpected Complaint About City Police Force Absent Friends
westminsterdogshow 2023
Ann Wilson(Empire1) 2022 Dave In Texas 2022 Jesse in D.C. 2022 OregonMuse 2022 redc1c4 2021 Tami 2021 Chavez the Hugo 2020 Ibguy 2020 Rickl 2019 Joffen 2014 Cutting The Cord And Email Security
NoVaMoMe 2023:
06/10/2023
Details to follow |
« CBS News: The US Was Double-Billed for Projects in Wuhan Fauci: You Know, Sometimes Labs Leak Naturally-Evolved Viruses | Main | Thousands of Illegals Attempt to Force Their Way Across US Border; CPB Agents Don Riot Gear to Protect Themselves From the Mob of Criminals » March 13, 2023
Biden Bails Out Silicon Valley Bank's and Signature Bank's Depositors, But Says It's Not a Bailout
President Biden on Monday stressed that Silicon Valley Bank (SVB) will not get a government bailout after regulators seized the assets of the failed bank. Um, if we're paying to put money back into depositors' accounts, of course we're bearing the losses. He means that he will be taxing the banks and the FDIC to pay for this. The FDIC will sell off SVB assets to cover some costs but, beyond that, depositors will be paid with money from the Deposit Insurance Fund. This fund has been built up by fees collected from banks. Any losses to the fund "to support uninsured depositors will be recovered by a special assessment on banks," write Yellen and company. By the way: We'll be bailing out Joe Biden's Chinese business partners, obviously. The failure of Silicon Valley Bank has left many Chinese funds and tech start-ups in the lurch, as the collapsed institution served as a key funding bridge for groups operating between China and the US. I think they're talking mostly about SVB lending to Chinese companies, not Chinese companies keeping funds on deposit with SVB -- but we'll have to see. Note that a big driver of this is a panic in Mortgage-Based Securities (MBS), which banks hold. Why is there a panic in MBSs? Because Biden's hyperinflation has caused flexible-rate mortgages to skyrocket in costs, and some people are walking away from their mortgages, and then the value of MBSs fall, leaving the banks holding them in a precarious situation. Paul Sperry @paulsperry_ Of course, Biden flacks and the Democrats and the media -- but I repeat myself thrice -- are claiming the big problem is that Republicans made a few minor tweaks to banking regulation. They're saying that by reducing the amount of cash banks were required to keep on hand, this... caused the banks to lose billions in investments? How? No, the problem is that Biden's hyperinflation is provoking another 2008-style mortgage-based security crash. Now First Republic bank has lost 60% of shareholder value, and fears are growing of regional banks collapsing. First Republic Bank shares plunged by about 60% in premarket trading on Monday even after the regional lender announced steps to shore up its balance sheet. Jim Cramer recommended that his viewers buy shares in the bank. Note that these shares are now essentially worthless.
On Friday, Cramer was still telling people to take a look at SVB's common stock and think about investing: Jim Cramer @jimcramer Anyone who listened to Jim Cramer bought stocks in a bank for real money which were quickly worth near-zero dollars. Bear in mind that SVB's investors were certainly looking to unload their stocks-- they knew the stock price was going down. So Jim Cramer told his viewers to help out SVB's former investors by taking the soon-to-be-worthless stock off their hands. Jim Cramer enlisted his viewers to buy out the old investors, shifting the cost of the wipeout from the former investors to the new ones.
Is this all a coincidence? Is he just this incompetent?
Trump did warn everyone:
| Recent Comments
G'rump928(c):
"and there's the bell. ..."
We favor Red Right Mutts: "395 But I thought it was Mitt Romney's turn? Po ..." Sponge - F*ck Joe Biden: "[i] 404 Comment not found Posted by: Doof at Mar ..." Marcus T: ""This is what the Lord says: “Cursed is t ..." trev006: "Why is Tucker getting a pass for dropping J6 inves ..." G'rump928(c): "The markets are up slightly but just sliding sidew ..." TheJamesMadison, being witty and sophisticated with Ernst Lubitsch: "404 Comment not found Posted by: Doof at March 21 ..." blake - semi lurker in marginal standing(2YtOq): "and Doof sticks the comment! ..." J.J. Sefton: " 402 Interesting but there is no possible way VA f ..." Seems Legit: "blow it out your ass Posted by: REDACTED at March ..." TheJamesMadison, being witty and sophisticated with Ernst Lubitsch: "402 Interesting but there is no possible way VA fl ..." Keep gp Out Yo MF'n Mouf: "403 You guys can't handle the truth. ..." Recent Entries
Mid-Morning Art Thread
The Morning Report — 3/21/23 Daily Tech News 21 March 2023 Monday Overnight Open Thread (3/20/23) Full Bloom Cafe Quick Hits Libs of TikTok's Book Event in New York City Cancelled Due to Credible Threats; Latitia James' Government-Sponsored Drag Queen Strory Hour for Children Goes Off Without a Hitch CNN's Vile Propagandist Manu Raju Spins for John Fetterman, Claiming His Health Is Just Terrific Media Declares Another Code-Red on DeSantis San Fransisco District Supervisor Has Completely-Unexpected Complaint About City Police Force Search
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Primary Document: The Audio
Paul Anka Haiku Contest Announcement Integrity SAT's: Entrance Exam for Paul Anka's Band AllahPundit's Paul Anka 45's Collection AnkaPundit: Paul Anka Takes Over the Site for a Weekend (Continues through to Monday's postings) George Bush Slices Don Rumsfeld Like an F*ckin' Hammer Top Top Tens
Democratic Forays into Erotica New Shows On Gore's DNC/MTV Network Nicknames for Potatoes, By People Who Really Hate Potatoes Star Wars Euphemisms for Self-Abuse Signs You're at an Iraqi "Wedding Party" Signs Your Clown Has Gone Bad Signs That You, Geroge Michael, Should Probably Just Give It Up Signs of Hip-Hop Influence on John Kerry NYT Headlines Spinning Bush's Jobs Boom Things People Are More Likely to Say Than "Did You Hear What Al Franken Said Yesterday?" Signs that Paul Krugman Has Lost His Frickin' Mind All-Time Best NBA Players, According to Senator Robert Byrd Other Bad Things About the Jews, According to the Koran Signs That David Letterman Just Doesn't Care Anymore Examples of Bob Kerrey's Insufferable Racial Jackassery Signs Andy Rooney Is Going Senile Other Judgments Dick Clarke Made About Condi Rice Based on Her Appearance Collective Names for Groups of People John Kerry's Other Vietnam Super-Pets Cool Things About the XM8 Assault Rifle Media-Approved Facts About the Democrat Spy Changes to Make Christianity More "Inclusive" Secret John Kerry Senatorial Accomplishments John Edwards Campaign Excuses John Kerry Pick-Up Lines Changes Liberal Senator George Michell Will Make at Disney Torments in Dog-Hell Greatest Hitjobs
The Ace of Spades HQ Sex-for-Money Skankathon A D&D Guide to the Democratic Candidates Margaret Cho: Just Not Funny More Margaret Cho Abuse Margaret Cho: Still Not Funny Iraqi Prisoner Claims He Was Raped... By Woman Wonkette Announces "Morning Zoo" Format John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia World Muslim Leaders Apologize for Nick Berg's Beheading Michael Moore Goes on Lunchtime Manhattan Death-Spree Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears Liberal Economists Rue a "New Decade of Greed" Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility Intelligence Officials Eye Blogs for Tips They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq Leather-Clad Biker Freaks Terrorize Australian Town When Clinton Was President, Torture Was Cool What Wonkette Means When She Explains What Tina Brown Means Wonkette's Stand-Up Act Wankette HQ Gay-Rumors Du Jour Here's What's Bugging Me: Goose and Slider My Own Micah Wright Style Confession of Dishonesty Outraged "Conservatives" React to the FMA An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear The Story the Rightwing Media Refuses to Report! Our Lunch with David "Glengarry Glen Ross" Mamet The House of Love: Paul Krugman A Michael Moore Mystery (TM) The Dowd-O-Matic! Liberal Consistency and Other Myths Kepler's Laws of Liberal Media Bias John Kerry-- The Splunge! Candidate "Divisive" Politics & "Attacks on Patriotism" (very long) The Donkey ("The Raven" parody) |