[ April 24, 2024 ]
Bill Ackman predicted the lack of government intervention to guarantee SVB FDIC insured deposits would lead to an ‘economic collapse.’
America’s Biggest Banks Lost More Than 50 billion Dollars In A Single Day
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Risks include:
1. Depositors at small banks move to JP Morgan
2. Everyone moves from cash to treasuries & money markets
3. Bank assets are no longer backed by deposits
4. More runs on banks
5. Socialists cheer on demise of small banks
6. Execs at big banks get mega rich
So let's understand, the Biden regime is sending HUNDREDS OF BILLIONS to a corrupt dictatorship (that launders money for the Democrat criminal racket)
but they won't cover the failed FDIC bank deposits in a bank run caused by Biden's catastrophic economic polices. #SVBCollapse— 🇺🇸 Pamela Geller 🇺🇸 🇮🇱 (@PamelaGeller) March 12, 2023
https://twitter.com/search?q=farmers&src=typed_query
Hi, I’m Lindsey. A bit about me:
– Ohio mother of 4
– I employ a team of 15 as a start-up founder & CEO of Strongsuit
– drive a used Honda Odessey
– husband works in manufacturing
– The financial future of my company, team and family are at risk w/ the collapse of SVB (1/23)— Lindsey Michaelides (@lcmichaelides) March 11, 2023
‘Irreversible mistake’: Hedge fund manager Bill Ackman warns of ‘economic meltdown’ following Silicon Valley Bank collapse
By Jesse O’Neill, NY Post, March 12, 2023:
Hedge-fund manager Bill Ackman predicted that an “economic meltdown” was looming on Monday following Friday’s collapse of Silicon Valley Bank.
In a rambling, 649-word, one-paragraph tweet Saturday, the billionaire predicted that uninsured bank customers would rush to withdraw cash Monday unless the government steps in to guarantee their funds and “fix a-soon-to-be-irreversible mistake.”
The 16th largest bank in the US, which provided financing for a large chunk of the country’s venture backed tech and health companies, was taken over by the Federal Deposit Insurance Corporation Friday as its stock plummeted due to liquidity concerns tied to rising interest rates.
It marked the largest bank collapse since the 2008 financial crisis, and it stranded billions of dollars belonging to companies and investors, whose deposits in excess of $250,000 are not covered by the FDIC.
Bill Ackman, the founder and CEO of Pershing Square Capital Management in Manhattan, predicted the lack of government intervention to guarantee SVB funds would lead to an ‘economic collapse.’
Bloomberg via Getty Images“Absent @jpmorgan@citi or @BankofAmerica acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the gov’t guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured deposits from all but the ‘systemically important banks’ (SIBs),” Ackman wrote.
The FDIC was said to be looking to find a bank that would merge with the failed California institution over the weekend, as the US weight the creation of a fund that would allow regulators to reinforce deposits if other banks fail in the wake of the collapse, according to Bloomberg.
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16 Comments
1 year ago
Someone needs to make one of those “I Did That” bumper stickers like they had for rising gas prices.
This one could point to a graph showing the stock market crashing and an article titled “Second Great Depression has Arrived”.
1 year ago
Joe Biden isn’t even man enough to accept that he is the one responsible for the very high gas and grocery store prices , therefore Biden tries to shift the blame on Vladimir Putin, when in reality inflation increase before Putin used the Russian military to invade Ukraine. There are many things Putin is guilty of but the high cost for things in American isn’t one of them.
Joe Biden is responsible for the terribly high cost of gas and groceries with his constant socialist meddling and interfering in the American free enterprise system is only harming America and the American people.
Likewise “President” pretender Biden when he shut down the Northern oil pipeline industry causing many American workers to lose their much need jobs is a disaster but to make this terrible situation even worse this results to two awful related things.
It made the United States once against dependent on foreign oil and likewise this added to the already rising prices fuel at the gas station.
That subversive horrible Biden and those “behind the curtains.” Who uphold their stooge in the Office of the US Presidency must have insidious sinister subversive intentions.
They have Biden as their tool for the degradation and debasement of the United States in the Red/Green agenda.
They are a dangerous as they are also despicable.
1 year ago
Reply to
Walter Sieruk
The high oil prices allowed Putin to move on Ukraine
Russian oil is not profitable below $75/B
Trump kept it at 35-50/B
They could defund Russian aggression and savagery by just increasing supply.
But they won’t.
GRETA THUNBERG is the Godess of the New World Order and the harbinger of the Great Reset
1 year ago
Joe Biden with his constant socialist meddling and interfering in the American free enterprise system.is wrecking the economy of this nation.
Biden even destroyed the business of that northern oil pipeline causing many American workers to lose their much-needed jobs. Likewise making the United States once again dependent on foreign oil.
That was one of many factors that contributed high price of gas and groceries.
It was reported on the news the this very high price of fuel .cost men driving trucks for a living so spending as much a one thousand dollars to fill up the gas tanks of their truck, causing many of them to go out of business thus losing their jobs . This is one reason foe high food prices and barren shelves at the grocery market.
Related to this is that by Biden pushing and even attempting to force socialism of the United States economic system also inflection at the grocery store and because many empty shelves, People never saw empty shelves during the Trump administration.
This Bogus US “President” must be deliberately attempting to harm this nation. What a treasonous villain he is.
Other villains who ,”behind the curtains ,” are other treacherous dangerous villains who use this puppet “president” as their useful idiot and tool as one of their weapons against America.
1 year ago
Reply to
Walter Sieruk
It would give him way too much credit, and give him far too much benefit of doubt, to even remotely brand him (and his cabal) as “inept” or “incompetent.” It is indeed high treason and deliberate, malicious criminal malfeasance on all their parts.
1 year ago
Reply to
From a Remote Location
Every action the Obiden Junta has taken has been to benefit the Chinese, I wonder how much CCP money was in SCB? Well,if any hey are gettin it back.
1 year ago
Why bail out a bunch of woke crooks who already pulled their money and stock out of the bank
Big Tech will suffer a bit
The banks manageemem6 was busy virtue signalllibg while they made colossal mistakes.
Let’s stop hiring for equity and let’s stop bailing out these rich communists who want to rule the world.
1 year ago
Reply to
Armaros
Sorry, friend, they did not make any “colossal mistakes.” They were following the woke agenda knowing they could send billions to their amigos and then the OBiden Junta would bail them out. Its all a very clever hug scam. If you understand that the Obiden Junta is simply the leadership of the organized crime family that masquerades as the Democratic Party you will be able to see this clearly.
D
1 year ago
Reply to
PanamaPat
Good point….reminds me of the housing bubble when people were given loans to buy homes and had no chance of ever paying it back.
1 year ago
This was planned and is part of the agenda of the NWO , WEF to destroy the Economy of the US and the World. It is a step toward pushing their Digital Currency.
1 year ago
Here’s a great take
I don’t get why go socialist to bail out socialists.
That aside there are solutions in the market ( though involving the FDIC) to keep this contained and even probably fix it.
The trouble here is not what took down Lehman.
Lehman owned crap assets ( high risk mortgage paper) while SVB faces a maturity gap.
One can be bridged the other drives to ruin .
Musk already indicated that he might buy the bank.
If the Biden government would take over a SV tech bank the consequences for society could be detrimental.
Thank God that the Biden junta hasn’t seen the opportunity in it.
Here’s some background
https://www.revolver.news/2023/03/sorry-silicon-valley-svbs-collapse-is-not-a-big-deal/
1 year ago
Go woke and go broke along with every fool who trusted you and your stupid ideas! We now know that taxpayers will bail the fools out,but the lesson has been learned, and we should all know that the FDIC does NOT have anywhere near the funds to cover the lost deposits. The Taxpayers are once again covering the woke losses.
1 year ago
Typical fascist Beijing Biden government using American’s money to save the elites money. Wake up America and stop being slaves for the elite who are determined to kill, starve, and bankrupt you!
