The Banking Meltdown Gets Worse
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Top Comments (10)
I can’t believe its bank collapse season already, I still have my train derailment decorations still up…
It's not a bank run that tanked SVB it was incompetence. They ran their business for the better part of a year without a Risk Management Officer. Their assets began to devalue and without the personnel in place to hedge and mitigate the downturn they ended up with 15 billion in 'unrealized' loss on the books. This begins drawing attention from investors as well as the credit rating organizations who threaten to downgrade SVB if they don't clean up the $15b. They proceed to cherry pick and sell off withering assets which now puts $2b in realized losses on the radar. They move to raise money with stock offerings, but the fuse is already lit. People pull their money and the house falls. You may argue that if they didn't run on the bank it could have weathered the storm. Perhaps. But if SVB spent a little more time hiring competent employees, ensuring critical positions were staffed, and a little less time on DEI retreats I would argue that they could have prevented the inspiration to run in the first place. DEI = Incompetence. Incompetence = failure.
When the government tells you not to worry, YOU NEED TO WORRY!!
How people think banks work: They take your money and keep it in a vault. How banks work: They take your money and "gamble" it.
Iceland had the right idea by prosecuting and sentencing corrupt bankers.
Uncle joe can’t even defeat stairs or form complete sentences but HE’S GOT THIS, totally.
The Hebrew Hammer speaketh!!!
I work at a small bank and I come here to get Banking Simplified by Ben. Thanks for explaining this!
Am I the only one that has not only never rewatched any of the best picture winners, but never watched or heard of the vast majority of them to begin with?
God he's so comical "you may think the hangover isn't coming, it's coming" Ben can make the most simple remarks crack me up !!!!
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Top Comments (10)
I can’t believe its bank collapse season already, I still have my train derailment decorations still up…
It's not a bank run that tanked SVB it was incompetence. They ran their business for the better part of a year without a Risk Management Officer. Their assets began to devalue and without the personnel in place to hedge and mitigate the downturn they ended up with 15 billion in 'unrealized' loss on the books. This begins drawing attention from investors as well as the credit rating organizations who threaten to downgrade SVB if they don't clean up the $15b. They proceed to cherry pick and sell off withering assets which now puts $2b in realized losses on the radar. They move to raise money with stock offerings, but the fuse is already lit. People pull their money and the house falls. You may argue that if they didn't run on the bank it could have weathered the storm. Perhaps. But if SVB spent a little more time hiring competent employees, ensuring critical positions were staffed, and a little less time on DEI retreats I would argue that they could have prevented the inspiration to run in the first place. DEI = Incompetence. Incompetence = failure.
When the government tells you not to worry, YOU NEED TO WORRY!!
How people think banks work: They take your money and keep it in a vault. How banks work: They take your money and "gamble" it.
Iceland had the right idea by prosecuting and sentencing corrupt bankers.
Uncle joe can’t even defeat stairs or form complete sentences but HE’S GOT THIS, totally.
The Hebrew Hammer speaketh!!!
I work at a small bank and I come here to get Banking Simplified by Ben. Thanks for explaining this!
Am I the only one that has not only never rewatched any of the best picture winners, but never watched or heard of the vast majority of them to begin with?
God he's so comical "you may think the hangover isn't coming, it's coming" Ben can make the most simple remarks crack me up !!!!