I remember last year there was some minor Chinese bank that had a run over millions of dollars of deposits, and it seemed like it was front page news for a month.
Silicon Valley Bank just failed and wiped out tens of billions , possibly more than a hundred billion, and it's barely getting coverage. All the top news stories I'm looking at are China / Russia, and the Americans who got kidnapped by a cartel.
Well, SVB is big but it's just kind of a weird scenario ultimately. They tied up 90B$ in 10 year Treasury bonds right before the Fed started hiking rates (and hasn't stopped). So that's like 40,% of their assets tied up right there.
It's one of the most avoidable bank failures, definitely of this century.
Not only that, but right wing Indian media was posting fake news about china sending in tanks to kill/combat protestors when in reality it was just your run of the mill pigs beating a few protestors which is already bad enough. And the tanks were from the annual military drills/parades in a city hundreds of miles away lol
But that didn’t stop westoids from eating it up and thinking some obscure branch in the middle of a small rural town would be the catalyst for “revolution”
my early adolescent brain remembers bear stearns not making much of a dent in the news cycle until washington mutual or whatever the next domino it was that fell a few months later. jp morgan? idfk
I remember last year there was some minor Chinese bank that had a run over millions of dollars of deposits, and it seemed like it was front page news for a month.
Silicon Valley Bank just failed and wiped out tens of billions , possibly more than a hundred billion, and it's barely getting coverage. All the top news stories I'm looking at are China / Russia, and the Americans who got kidnapped by a cartel.
Well, SVB is big but it's just kind of a weird scenario ultimately. They tied up 90B$ in 10 year Treasury bonds right before the Fed started hiking rates (and hasn't stopped). So that's like 40,% of their assets tied up right there.
It's one of the most avoidable bank failures, definitely of this century.
Not only that, but right wing Indian media was posting fake news about china sending in tanks to kill/combat protestors when in reality it was just your run of the mill pigs beating a few protestors which is already bad enough. And the tanks were from the annual military drills/parades in a city hundreds of miles away lol
But that didn’t stop westoids from eating it up and thinking some obscure branch in the middle of a small rural town would be the catalyst for “revolution”
my early adolescent brain remembers bear stearns not making much of a dent in the news cycle until washington mutual or whatever the next domino it was that fell a few months later. jp morgan? idfk
Oh no
Anyways