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A comment on Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC. Parent comment

Re:Joint Statement by the Department of the Treasury, Federa... by yawpitch on Monday March 13, 2023 @03:26AM (#35132287)
Ok, but assuming the numbers above are correct, 150B in uninsured deposits - 5B in market cap firesale = 145B that SVB apparently didn’t have the cash on hand to repay.

If every depositor walks in first thing Monday morning and withdraws their bad bet in their (apparently single) chosen bank’s management, the customers of all other banks are now on the hook for 145B… which ultimately means everyone on the planet can expect to pay more for their haircuts.

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Re:Joint Statement by the Department of the Treasury, Federa... by lordnacho on Monday March 13, 2023 @04:30AM (#35132733)
Huh, are the assets only trading at 5B? I thought it was much closer to 150B?
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Re:Joint Statement by the Department of the Treasury, Federa... by jsjohnst on Monday March 13, 2023 @10:02AM (#35135842)
No, GP is just foolishly conflating liabilities and assets and bank deposits and enterprise value among other issues if you read this and their other comments.

tl;dr - GP doesn’t have a clue what they are saying.

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Re:Joint Statement by the Department of the Treasury, Federa... by jsjohnst on Monday March 13, 2023 @08:54AM (#35135052)
With the number of ELI5 guides all over the internet on the SVB situation, this level of willful ignorance you displayed here is just sad. Seriously, stop talking out your arse and go educate yourself, even a little, first.
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by yawpitch on Monday March 13, 2023 @12:26PM (#35137975)
Well, you seem like a thoroughly pleasant ~human~ being to be around.

Let’s just sit back and see how this all plays out.

[ Parent | on HN ]