We got a bank collapse y'all

[Kafka]

We should have more centralization give the central planners more power.

VA hospitals, IRS, and post office are great innovators and lead the way on..... absolutely nothing.

VA is actually a big leader in medical innovation. All doctors learn on VA’s systems. IRS is shit that’s true. Post Office takes the ire of the Republican Party but it doesn’t do too bad imo.

 

[stevezissou]

VA is actually a big leader in medical innovation. All doctors learn on VA’s systems. IRS is shit that’s true. Post Office takes the ire of the Republican Party but it doesn’t do too bad imo.

Yes a few years ago VA was on the cutting EDGE of waitlist management.

 

[stevezissou]

But this isn’t tax money paying it back though, right? It’s from a fund that banks had to pay into?

"stupidity of the American voter"

Banks pay into fund
Where do you think banks earn their money?

The depositors.

Hope this helps.

 

[Mike00]

Or a business problem, ya know like the one who pays your paycheck every month? lol

Or the places you spend your paycheck at? Ya know businesses that take your money and provide you goods and services?

Please think a little further down the road than 5 minutes and thinking you are owning "the rich people"

People just want to take it to the 1%… not realizing they will be the ones to hurt most.

 

[Mike00]

Wouldn’t a systemic failure basically require us to collectively start over?

Try the whole world. But yes in theory. Hence why the fed steps in and why it makes perfect sense.

 

[Lug]

Banks pay into fund
Where do you think banks earn their money?

The depositors.

That’s not at all true. HTH.

 

[rcm]

"stupidity of the American voter"

Banks pay into fund
Where do you think banks earn their money?

The depositors.

Hope this helps.

Depositors are a liability to a bank, not an asset.. Therefore by definition they do not earn money from depositors

 

[Mike00]

That’s not at all true. HTH.

They don’t invest the deposited money into treasuries ? Hmm…….

It might not - well obviously is not the only revenue stream

 

[Offender]

I don't read audits but isn't there a section devoted to all theoretical insolvency scenarios within a year and then their rules based determination of likelihood?

 

[stevezissou]

Depositors are a liability to a bank, not an asset.. Therefore by definition they do not earn money from depositors

Deposits are then lent out/assets purchased using depositors money.

No depositors money = no banks

Hope this helps

 

[rcm]

I don't read audits but isn't there a section devoted to all theoretical insolvency scenarios within a year and then their rules based determination of likelihood?

No

 

[rcm]

Deposits are then lent out/assets purchased using depositors money.

No depositors money = no banks

Hope this helps

You could say that about literally any company's equity or debt funding

 

[Mike00]

I don't read audits but isn't there a section devoted to all theoretical insolvency scenarios within a year and then their rules based determination of likelihood?

How would that ever happen? US banking system meltdown means every company needs something in there about it. Or nuclear war, or pandemic… Seriously?

 

[Lug]

Deposits are then lent out/assets purchased using depositors money.

No depositors money = no banks

Hope this helps

that’s different than what you said. Banks EARN their money off loans, and purchases. The fdic fund is paid through those earnings and fees.

 

[Offender]

How would that ever happen? US banking system meltdown means every company needs something in there about it. Or nuclear war, or pandemic… Seriously?

I must be confusing audit requirements with something else, and I'm not talking about all risk but obviously duration risk would be one. What I'm speaking of somewhat exists in another area but I can't place it and I'm on edibles.

 

[LancerV]

VA is actually a big leader in medical innovation. All doctors learn on VA’s systems. IRS is shit that’s true. Post Office takes the ire of the Republican Party but it doesn’t do too bad imo.

Post office actually use to make a profit tell Republicans wanted it to shutdown so they can get kick backs from UPS/FedEx

 

[Mike00]

I must be confusing audit requirements with something else, and I'm not talking about all risk but obviously duration risk would be one. What I'm speaking of somewhat exists in another area but I can't place it and I'm on edibles.

Audits can highlight some risks yes. A 10k also highlights some risks. But you have to understand it tends to be industry or company GTM. What happened to SVB the treasuries hurt them but realistically they had an issue because of one man. Frankly it’s more akin to a hostile takeover (Funny enough PE firms want To buy SVB, go figure…). How do you predict a hostile take over?

 

[LancerV]

Yes a few years ago VA was on the cutting EDGE of waitlist management.

Almost like cutting the VA budget in 2016 caused a massive backlog

 

[intro_vert13]

y'all surprised that the corporate tax accountant itt has such a strong position on the issue?
lmao

 

[Remy Bressant]

y'all surprised that the corporate tax accountant itt has such a strong position on the issue?
lmao

Stuff him in a locker and take his lunch money

 

[BStork]

"stupidity of the American voter"

Banks pay into fund
Where do you think banks earn their money?

The depositors.

Hope this helps.

Relax man, I didn’t understand so I asked. Don’t be a dick.

 

[.chris]

A systemic failure of our banking system will affect your regular cash needs. It will affect your employer's ability to give you your paycheck. It would cause the stock market to plummet, which affects your retirement accounts. Oh, you have a pension? Guess what, its funding is based on current equity values and if it's underfunded, your employer needs CASH to fund the difference. It would also affect every facet of the supply chain if vendors can't pay vendors, etc.

Debbie downer over here

 

[Cicada]

Relax man, I didn’t understand so I asked. Don’t be a dick.

Lmfao

 

[TheProwler]

Almost like cutting the VA budget in 2016 caused a massive backlog

it's been that way for a lot longer than 2016. I did my rotations there in 2008 and 2009 and saw that too.

 

[Menger]

This is pretty much the only reason that small and regional banks are important, but it’s a pretty big reason.

Local Banks Could Leave Gaps That Are Hard to Fill

A weakened position for small banks would harm small businesses and less-urban areas.

www.wsj.com