We got a bank collapse y'all

[garbagemanlb]

SVB Financial stock slides 42% premarket as fears of a potential run on the bank continue

SVB Financial Group the parent of Silicon Valley Bank, saw its stock tumble more than 42% in premarket trade Friday, in a continued response to reports late...

www.marketwatch.com

SVB Financial Group SIVB, -60.41%, the parent of Silicon Valley Bank, saw its stock tumble more than 42% in premarket trade Friday, in a continued response to reports late Thursday that several funds were advising clients to pull their money,. sparking fears of a run on the bank. Bloomberg News late Thursday reported that Founders Fund, the San Francisco-based venture-capital fund co-founded by Peter Thiel, has advised companies to do just so. The report cited people familiar with the matter. It came after SVB Financial ended down 60% in the regular trading day after disclosing large losses from securities sales and announcing a dilutive stock offering along with a profit warning. The bank was unprepared for rising interest rates which have hit its net interest income and net interest margin. The news created carnage in the banking sector on Thursday, and sparked fears that other banks are in a similar position.

 

[MassiveGas]

Hell yeah motherfucker

 

[Blingin]

Bank of America (BAC) was down 14% MTD as of closing bell yesterday.

 

[I<3URANUS]

Let's go!

 

[Sirius]

Won’t someone please think of the banks

 

[General_Zod]

 

[HoodRich]

Won’t someone please think of the banks

i am, thats why i'm only taking out what i need to get me through the weekend until the bank opens. $242

 

[Grape_Ape]

Guess we will be bailing them out again

 

[MM]

What does this mean though?
Can we expect my banks to go under?

 

[MassiveGas]

What does this mean though?
Can we expect my banks to go under?

No they just get bought by a bigger bank

 

[Actvs Dei]

What does this mean though?
Can we expect my banks to go under?

Yeah

 

[meatball]

oh fuark

 

[Twinsen]

As long as Hilary Banks is okay.

 

[Actvs Dei]

My body is ready for the collapse

 

[Remy Bressant]

Oh no this might lead to Silicon Valley bankers and executives committing suicide.

 

[HoodRich]

What does this mean though?
Can we expect my banks to go under?

Potter will buy it, you might get 50 cents on the dollar but 1/2 is better than nothing

 

[whatever]

oh boy cant wait to print another few trillion to keep bankers rich.

 

[HoodRich]

Oh no this might lead to Silicon Valley bankers and executives committing suicide.

i never understood people that do that. Wouldnt you just get fired collect unemployment for a little minute and then start over again somewhere else?

 

[Remy Bressant]

i never understood people that do that. Wouldnt you just get fired collect unemployment for a little minute and then start over again somewhere else?

When your entire existence is built on making lots of money and you destroy relationships and hurt people to do it the idea of not having that power anymore makes life unlivable.

 

[Remy Bressant]

See Narcissim

 

[Mariner]

The bank was unprepared for rising interest rates which have hit its net interest income and net interest margin.

How disconnected from reality do you have to be to not have seen this rate environment coming?

 

[Brad Fellowship]

Bail them out! Bail them out! Bail them out! Bail them out!

 

[BoogieKnight]

Fuck em

 

[vikingen]

Saint might buy them

 

[Kremlin]

give them our tax dollars, they're just having a bad day and we've all been there