Discover and read the best of Twitter Threads about #svb
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As tech reaches terminal #enshittification, so hollowed that they're barely able to keep end-users or business customers locked in, capital's running the final #rugpull, where all value is transfered from those who make things for a living to those who own things for a living. 1/ 
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/03/21/tec… 2/
pluralistic.net/2023/03/21/tec… 2/
"#ActivistInvestors" have triggered massive waves of tech layoffs, firing so many #TechWorkers so quickly that it's hard to even come up with an accurate count. The total is somewhere around *280,000* workers:
layoffs.fyi 3/
layoffs.fyi 3/
Tweet mañanero y Cuenta atrás.
DESCONFIANZA
No metas tus perras en la fondue de queso
DESCONFIANZA
No metas tus perras en la fondue de queso
Nos espera una semana interesantísima. Un cierto respiro para los bancos y relacionados, tiempo que ganan para encontrar una solución al dilema. El miércoles, el papelón de Powell.
Cronología:
El fin de semana ha visto a los directivos y muchos empleados en las oficinas, incluso a horas intempestivas. No tan solo en los bancos bajo fuego directo (Credit Suisse, #FRB, Deutsche Bank) reconocido oficialmente.
El fin de semana ha visto a los directivos y muchos empleados en las oficinas, incluso a horas intempestivas. No tan solo en los bancos bajo fuego directo (Credit Suisse, #FRB, Deutsche Bank) reconocido oficialmente.
Some random, disconnected thoughts...are we at the beginning of a new financial crisis leading to a recession?
Well, we just don't know and so many economic predictions come from either blowhards or people who don't have any specialized predictive power.
Well, we just don't know and so many economic predictions come from either blowhards or people who don't have any specialized predictive power.
For example, how often have you heard predictions of an imminent recession only to see the BLS comes out with a report saying we added 500,000 jobs per month? It seems like a discourse dominated by Republicans who just *wanted* a recession so they could blame it on Biden.
It's only about a week since we learned about a very large bank collapse. The *feel* (admittedly not very precise) of the headlines suggests that there is pain ahead and a lot of people are scared. In and of itself that can mean something since psychology influences the economy.
Random thoughts/questions on all the post #SVB analysis: 1) Should larger banks that have lower “deposit beta” be allowed to take on more deposits, overruling current 10% national de novo deposit share ceiling? In turn, big banks can make commitments to invest in smaller ones 1/n
2) Banks to ⬇️ investments in HTM long term securities or mandate accounting standard changes that reflect M2M changes in HTM portfolio in B/sheet or PnL. There is too much juggling today btw HTM and AFS buckets, neither of which directly affects the PnL. Hedging is not effective
3/n) Isn’t is rather interesting that Mortgage Servicing Rights (MSRs) are treated punitively from a Basel3 risk-capital perspective but longer-duration Agency-backed Mortgage Securities that feed off the same MSR cashflows are considered low-risk and have no capital charge?!
Supposedly, the #SiliconValleyBank #bailout wasn't a bailout: in a bailout, the *investors* get public money; but with #SVB, it was the depositors. But, of course, SVB's owners were also depositors in their bank. All in all, SVB's owners are entitled to $2B in public money. 1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/03/18/2-b… 2/
pluralistic.net/2023/03/18/2-b… 2/
When #Biden said, "investors in the banks will not be protected. They knowingly took a risk and when the risk didn’t pay off, investors lose their money. That’s how capitalism works," he was ignoring the fact that this isn't how *the law* works. 3/
in 2022 the VC fundraising climate soured, with valuations dropping 50%+
rather than fundraise and take a huge dilution hit, founders of well-performing companies cut their expenditures, invested in top-line growth, and opened a line of credit (usually at SVB)
I am not surprised that the group of big banks deposit in #FirstRepublicBank has done little for confidence. The banks committed for only 120 days whereas government money is in for a year, so there is not obvious economic substance.
There is no transparency on what understanding there are, or are not, with the @USTreasury. And it projects more than a whiff of alarm. Policymakers can do better.
📉 VCs causing the downfall of SVB
💰 Credit Suisse’s pricey lifeline
🚐 RVs predicting the future
🧵 Catch up on the week in news with @ALampietti’s round up of our must-see videos
💰 Credit Suisse’s pricey lifeline
🚐 RVs predicting the future
🧵 Catch up on the week in news with @ALampietti’s round up of our must-see videos
Treasury Secretary, Janet Yellen has dropped the ball.
Where has she been?
A timeline 🧵🪡
Where has she been?
A timeline 🧵🪡
March 2023:
“The American banking system is safe and well-capitalized, it’s resilient. Americans can have confidence in the safety and soundness of our banking system."
- #JanetYellen
“The American banking system is safe and well-capitalized, it’s resilient. Americans can have confidence in the safety and soundness of our banking system."
- #JanetYellen
3/7/2023
“Climate Change could trigger asset value losses, harming US economy.”
- #JanetYellen
reuters.com/world/us/yelle…
“Climate Change could trigger asset value losses, harming US economy.”
- #JanetYellen
reuters.com/world/us/yelle…
Credit Suisse is in crisis.
What went wrong? So, so much.
🧵 Let’s take a look
What went wrong? So, so much.
🧵 Let’s take a look
We *just* learned that #SVB’s downfall was announcing it was raising equity without having buyers lined up, says @matt_levine.
So why would Credit Suisse’s biggest shareholder announce they would “absolutely not” put more money into the embattled bank? trib.al/aS9oy3I
So why would Credit Suisse’s biggest shareholder announce they would “absolutely not” put more money into the embattled bank? trib.al/aS9oy3I
After Saudi National Bank ruled out providing more assistance, #CreditSuisse closed down 24% at 1.697 Swiss francs per share, its lowest closing price on record trib.al/nnFD2F8
I asked ChatGPT (GPT-4) about implications of Credit Suisse. Here's the possible consequences:
Loss of confidence: The collapse of SVB, Signature Bank, and the significant decline of Credit Suisse stock could lead to a loss of confidence in the broader financial system.
Loss of confidence: The collapse of SVB, Signature Bank, and the significant decline of Credit Suisse stock could lead to a loss of confidence in the broader financial system.
This could prompt investors to withdraw their investments from other financial institutions, leading to further instability.
Credit tightening: The collapse of these banks might result in a credit crunch, as other banks may become more cautious in their lending practices. Negative impact on the overall economy, as businesses may struggle to access the credit they need for growth and expansion
My weird hobby is taking pictures of #signs, especially "vernacular" signs, handwritten and odd. The best kinds of signs tell you what *other* people think *you* are thinking, or what you don't understand. I've nabbed over 4,600 of 'em:
flickr.com/search/?user_i… 1/
flickr.com/search/?user_i… 1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/03/15/mon… 2/
pluralistic.net/2023/03/15/mon… 2/
I think you learn more about the world by delving into others' misconceptions than you learn from their factual understandings. 3/
💥💵 1/5 Como muestra el gráfico, la quiebra del #SVB estuvo causada muy inusualmente por las "pérdidas no realizadas". Es decir, deprecio de su cartera de bonos.
Más en Martin Wolf👇
ft.com/content/09bfbb…
Más en Martin Wolf👇
ft.com/content/09bfbb…
2/5 Las minusvalías potenciales en bonos tiene fácil solución admitiendo la Fed esos activos a 1:1 para otorgar créditos.
El pánico de "corrida" se soluciona fácilmente garantizando los depósitos.
Esta es una crisis de fácil solución y que nunca fue presagio de un 2008 Redux.
El pánico de "corrida" se soluciona fácilmente garantizando los depósitos.
Esta es una crisis de fácil solución y que nunca fue presagio de un 2008 Redux.
3/5 El fin de semana se tomaron las medidas oportunas.
El miedo de éstos días fueron "animals spirits". El mercado es estúpido y lento... , acaba haciendo lo correcto pero solo tras intentar todo lo incorrecto antes.
Aunque imperfecto, es mejor
El miedo de éstos días fueron "animals spirits". El mercado es estúpido y lento... , acaba haciendo lo correcto pero solo tras intentar todo lo incorrecto antes.
Aunque imperfecto, es mejor
#SVB Silicon Valley Bank பிரச்சனை - பயந்து ஓடலாமா? துணிந்து இறங்கலாமா? ஒரு சிறப்புப் பார்வை.
மார்ச் 8, 2023 அன்று அந்த வங்கி, தனது balance ஷீட் அட்ஜஸ்ட்மென்ட் க்காக $2.25 பில்லியன் கடன் வாங்கப் போவதாக சொன்னது. இந்த அறிவிப்பு சந்தை மற்றும் வங்கி வட்டாரங்களில் தீயைப் போல பரவியது.
மார்ச் 8, 2023 அன்று அந்த வங்கி, தனது balance ஷீட் அட்ஜஸ்ட்மென்ட் க்காக $2.25 பில்லியன் கடன் வாங்கப் போவதாக சொன்னது. இந்த அறிவிப்பு சந்தை மற்றும் வங்கி வட்டாரங்களில் தீயைப் போல பரவியது.
2008 வீழ்ச்சி போல் இது ஆகி விடுமோ என்கிற பயத்தில் பீதியடைந்த முதலீட்டாளர்கள், அடுத்த 48 மணி நேரத்தில் $42 பில்லியன் தொகையை withdraw செய்தனர்.
SVB, அமெரிக்காவின் 16 ஆவது பெரிய வங்கி. 40 வருட பாரம்பரியம் கொண்டது. $175 பில்லியன் அளவுக்கு வாடிக்கையாளர்களின் டெபாசிட்ஸ் வைத்திருந்தது
SVB, அமெரிக்காவின் 16 ஆவது பெரிய வங்கி. 40 வருட பாரம்பரியம் கொண்டது. $175 பில்லியன் அளவுக்கு வாடிக்கையாளர்களின் டெபாசிட்ஸ் வைத்திருந்தது
இந்த வங்கியில் பெரும்பாலும் Startup நிறுவன முதலீட்டாளர்களே அதிகம்.
என்ன நடந்தது?
கடந்த 2020 வருடம், அதன் Balance ஷீட் ல் இருந்த தொகை, மொத்தம் $55 பில்லியன். வெறும் இரண்டு வருடங்களில், அந்த தொகை $186 பில்லியன் ஆனது.
எப்படி?
2020-22 வருடங்களில் வெளியான IPO வில் பெரும்பான்மையான
என்ன நடந்தது?
கடந்த 2020 வருடம், அதன் Balance ஷீட் ல் இருந்த தொகை, மொத்தம் $55 பில்லியன். வெறும் இரண்டு வருடங்களில், அந்த தொகை $186 பில்லியன் ஆனது.
எப்படி?
2020-22 வருடங்களில் வெளியான IPO வில் பெரும்பான்மையான
#THREAD : USM2 Signals a Looming Economic Collapse: Why the Collapse of SVB is Just the Beginning
1/ As the founder of Aslam Capital, I'm here to warn you that the recent collapse of SVB is just the tip of the iceberg. USM2, the broadest measure of money supply, is indicating that we are headed for a far worse correction than the financial crisis of 2008. #economy #collapse
2/ USM2, which includes cash, checking deposits, savings deposits, money market securities, and other time deposits, has grown by over 27% in the past year alone. This is a clear indication of inflation and a potential collapse of the US dollar. #finance #AslamCapital
Just as he tried to project himself as the "free speech" savior in the #TwitterFiles release, Ro is also trying to project himself as the savior of the working class.
In reality, in both cases, he helped his own rich liberal friends.
In reality, in both cases, he helped his own rich liberal friends.
Khanna in #TwitterFiles was probably tipping his friends in the company about a possible “backlash on hill (sic) re (sic) speech” more than his concern for free speech.
organiser.org/2022/12/03/100…
organiser.org/2022/12/03/100…
At least three of the California governor’s wine companies are held by SVB, and a bank president sits on the board of his wife’s charity.
SVB is Ro’s super rich liberal district. He needs these donors for his prospective senate run.
#svb #sliconvalley #bank
SVB is Ro’s super rich liberal district. He needs these donors for his prospective senate run.
#svb #sliconvalley #bank
Epic disconnect: Head of @NYUSternCSB sustainability forum saying we’re out of time to move business towards more ESG practices at the same she actively partners with climate criminal #fossilfuel funders like @GoldmanSachs @HSBC and plastics monster @PepsiCo. Why?
Very happen to learn @Chase and other large #fossilfuel banks will have to take buildings for which they hold mortgages into account under #LocalLaw97. Their energy-leaking investments will come back to bite them.
Hallelujah @dgelles for speaking truth @NYUSternCSB: #FossilFuel co’s are funding ESG backlash at the state level. So, quite odd that @nyu is partnering with climate criminals right and left to further their sustainability studies. Also all panel, don’t use Right lingo “woke.”
Le fonds américain qui est soit-disant censé garantir les dépôts jusqu'à $250000 aux États-Unis, est de $130 milliards.
Les dépôts des clients de #SVB sont de $165 milliards, soit plus que le fonds de garantie, dont $150 milliards non assurés (dépôts dépassant les $250k).
1/
Les dépôts des clients de #SVB sont de $165 milliards, soit plus que le fonds de garantie, dont $150 milliards non assurés (dépôts dépassant les $250k).
1/
Le fonds de garantie de la #FDIC aurait dû garantir tous les dépôts jusqu'à 250k$, soit $15 milliards.
Le fonds de garantie est inférieur aux dépôts des clients de la #SVB.
C'est pour cette raison que la #FED est directement intervenue pour garantir tous les dépôts des clients.
Le fonds de garantie est inférieur aux dépôts des clients de la #SVB.
C'est pour cette raison que la #FED est directement intervenue pour garantir tous les dépôts des clients.
Ces $130 milliards de garantie sont une poussière par rapport aux $10000 milliards de dépôts aux États-Unis.
C'est dans la tempête que les mythes tombent et que les mensonges se dévoilent.
C'est dans la tempête que les mythes tombent et que les mensonges se dévoilent.
@FirstBankpr, un banco de #PuertoRico que cotiza en la @NYSE bajo el símbolo $FBP, ha estado teniendo dificultades en los últimos años. El banco ha visto disminuir sus ingresos y su precio de las acciones, y ha tenido dificultades para atraer a inversores y mantenerlos. 🇵🇷
El banco, que fue fundado en 1948, opera principalmente en #PuertoRico, aunque también tiene algunas operaciones en las Islas Vírgenes, USA. Es el segundo banco más grande de P.R. por activos, con un valor de mercado de alrededor de $2.18B. Con un dividend yield de 4.64%. $FBP
Sin embargo, a pesar de sus fortalezas aparentes, @FirstBankpr ha estado luchando financieramente en los últimos años. En 2022, el banco registró una disminución del 2.78% en sus ingresos, así como una disminución del 2.78% en sus gastos operativos. #PuertoRico $FBP
(a) ‼️ÚLTIMA HORA ‼️
⁃Con estos dos Gif, no te quedarán dudas par entender de una vez por todas la cagada #SVB
⁃ y ahora que ¿inflación o recesión ?
⁃el subidón del día ( mi ma chaval … OMG..!!

⁃Con estos dos Gif, no te quedarán dudas par entender de una vez por todas la cagada #SVB
⁃ y ahora que ¿inflación o recesión ?
⁃el subidón del día ( mi ma chaval … OMG..!!

Lo que le paso la semana pasada a #SVB fue más o menos esto
Y la única solución por parte de la reserva federal está
Silicon Valley Bank: O que está acontecendo?
Segue o fio e entenda
Segue o fio e entenda
Na última sexta (10), as autoridades norte-americanas anunciaram o encerramento das atividades do Silicon Valleu Bank (#SVB).
O banco era um dos principais financiadores de startups e a sua #falência torna-se a segunda maior da história do setor bancário dos Estados Unidos.
O banco era um dos principais financiadores de startups e a sua #falência torna-se a segunda maior da história do setor bancário dos Estados Unidos.
Com o aumento dos juros nos Estados Unidos, as empresas que eram clientes do SVB começaram a retirar dinheiro do banco de uma forma mais rápida do que a esperada pela instituição.
Yes, we have spoken a lot about public failure and the lessons we draw from the Socialist Bloc nations of Eastern Europe during the Cold War and the USSR as their patron-in-chief, which broke up due to state inefficiencies
We are not quick to pontificate about Market Failure
#SVB
We are not quick to pontificate about Market Failure
#SVB
After GFC and several other frauds and financial failures within the private sector post-2008, it is time we hold corporate white-collar workers accountable for their misdeeds.
Yes, not everything is Fraud or portends to be a Financial Crime.
But, incompetence is a Moral Crime!
Yes, not everything is Fraud or portends to be a Financial Crime.
But, incompetence is a Moral Crime!
LTCM, Enron and WorldCom, GFC were only the tips of the iceberg.
American Corporate Management Standards have tremendously deteriorated due to a lack of professional ethics, or possibly due to a lack of competition.
When Japan & West Germany were competing, the Yanks did well.
American Corporate Management Standards have tremendously deteriorated due to a lack of professional ethics, or possibly due to a lack of competition.
When Japan & West Germany were competing, the Yanks did well.
#SVB had around $175 billion worth of deposits vs. $125 billion in the FDIC Deposit Insurance Fund (total).
Deposits have already been transferred to Deposit Insurance National Bank of Santa Clara, where they should be available to depositors.
How is this going to go?
🧵1/7
Deposits have already been transferred to Deposit Insurance National Bank of Santa Clara, where they should be available to depositors.
How is this going to go?
🧵1/7
Shareholders and uncovered debt holders (bond owners) will be wiped out.
Next the SVB (mostly its loan book and assets) is probably sold to whoever wants to buy it.
The money from the sell is then most likely used to cover some share of the uninsured deposits.
2/
Next the SVB (mostly its loan book and assets) is probably sold to whoever wants to buy it.
The money from the sell is then most likely used to cover some share of the uninsured deposits.
2/
The question becomes, if the funds from the sell do not cover but a fraction of #SVB deposits, what then?
Will the FDIC empty it's Fund or will the Treasury step in? Essentially no other options exist.
The process selected will be crucial.
3/
Will the FDIC empty it's Fund or will the Treasury step in? Essentially no other options exist.
The process selected will be crucial.
3/
#SVB non aveva problemi di liquidità: si è trovata improvvisamente in situazione di insolvenza a causa del bank run. Difficile non pensare ad un attacco mirato, in special modo se si osserva chi ha fatto partire il panico.
1/8
rossellafidanza.substack.com/p/il-caso-sili…
1/8
rossellafidanza.substack.com/p/il-caso-sili…
La prima voce che ha consigliato alle startup di ritirare i loro soldi dalla SVB è stato il Founders Fund di Peter Thiel, colui che ha creato Paypal con Elon Musk. Thiel ha accumulato un’enorme ricchezza speculando con successo su alcune aziende tecnologiche (Facebook,
2/8
2/8
Paypal, Airbnb, Spotify, LinkedIn, Palantir Technologies–una società legata alla CIA–e SpaceX): un’opinione di peso e destinata a generare importanti conseguenze.
Founders Fund ha chiesto alle sue società in portafoglio di spostare i soldi fuori da SVB, ma c’è di più:
3/8
Founders Fund ha chiesto alle sue società in portafoglio di spostare i soldi fuori da SVB, ma c’è di più:
3/8
