Democrat record inflationary policy. Scam crypto. Scam VC and IPOs by their siliCon Valley buddies. Democrat town in Democrat state. 10s of billions lost.
This is what you get when you support their incompetence.
https://www.reuters.com/business/finance/global-markets-banks-wrapup-1-2023-03-10/
They've already blamed Trump. That's all they know how to do.
ZERO SOLUTIONS
________________________
Great minds discuss ideas.
Average minds discuss events.
Small minds discuss people.
Not surprising, considering that they get almost everything backwards or inverted.
They blame everything on Trump while dismissing all his accomplishments.
Wrong again. It is THE largest bank failure since 2008. Why do I have to constantly make your arguments for you?
https://www.senate.gov/legislative/LIS/roll_call_votes/vote1172/vote_117_2_00176.htm
Senate Confirmation for Reappointment of Jerome Powell
NAYs ---19
Boozman (R-AR)
Braun (R-IN)
Cotton (R-AR)
Cruz (R-TX)
Hawley (R-MO)
Johnson (R-WI)
Lee (R-UT)
Markey (D-MA)
Menendez (D-NJ)
Merkley (D-OR)
Ossoff (D-GA)
Paul (R-KY)
Rubio (R-FL)
Sanders (I-VT)
Scott (R-FL)
Shelby (R-AL)
Sullivan (R-AK)
Warren (D-MA)
Wicker (R-MS)
Someone wasn't paying attention when they were counting noses on this appointment. Most bipartisan vote on anything in 20 years. Powell should have been kicked to the curb.
No one cares sadly, its (D)ifferent now.
share"its (D)ifferent now."
Powell was Trump's appointment, Senate was majority GOP. But, GOP didn't have 60 seats, Democrats could have filibustered it.
Dems have been in charge for the past 2 years. Why did they let this happen? I thought Biden was going to BBB?
shareAlso Biden said he would not bail out the banks and will NOT be paying back people that lost money. Meanwhile we have given at least $150 billion to Ukraine.
shareSometimes investments make money, sometimes investments lose money. The sooner you realize you're not a special little snowflake, the better off you'll be in life.
shareSo its ok for a major bank to go bankrupt because they made bad investments?
shareThere isn't an alternative. Their investments are worth less than their debts. That's what bankruptcy is. A trustee will replace the CEO, and attempt to get the most value for the investments. Then they'll deduct all the expenses, and anything left over will be distributed to the debtors proportionally.
shareWhy did Joe allow the banks to go bankrupt? Certainly with over 50 years of political experience he could have negotiated a deal to prevent it. Still waiting for the BBB to start.
shareThe bill Trump signed had overwhelming support from democrats and republicans at the time. SVB was caused by management not being able to handle the Biden Feds steep rate increases meant to fight Biden's inflation---thank you democrats.
share"The bill Trump signed had overwhelming support from democrats and republicans at the time."
I have no idea what you're referring to here.
"Biden Feds steep rate increases meant to fight Biden's inflation"
"Biden's inflation?"
https://www.cnbc.com/2019/10/31/trump-rails-against-powell-day-after-fed-cuts-rates-for-a-third-time-this-year.html
[October 2019] Just last week, Trump tweeted, “The Federal Reserve is derelict in its duties if it doesn’t lower the Rate and even, ideally, stimulate.” "Trump wants the Fed to push interest rates down to zero or even into negative territory."
Whomever is in charge gets blamed for everything. Isnt that how it works? Although dems just blame the previous administration. Biden is in charge right?
shareSure, if you think that persuades the audience. "Biden is in charge." It only takes 41 Senators to block a nominee, 6 Dems voted no on Powell, GOP only needed 35 more, they had 50 seats in 2022.
shareBut the dems were in charge for the past 2 years and Joe has over 50 years of political experience. Why does he not do something? Supposedly Joe was a better choice than Trump but we certainly cant tell. Now we are stuck in another unwinnable war.
share
Sanders (I-VT)
I'm happy to see my (then junior now senior) Senator on the list...
No, banks are responsible for bank failure, but since everyone in Silicon Valley is a "Democrat" anyway, yes in this case its their fault.
shareGuess who sits on the board at Signature Bank, the second bank to fail courtesy the Democrat party….
That’s right, the Democrat chairman of the congressional oversight committee during the mortgage banking collapse….
Duh duh duh dahhhhh
Distinguished representative, Democrat Barney Frank.
Lmfao!!!!
Oops!? Winning!?
LOL
Barney Frank Under Fire for Downplaying Deregulation While Being Paid by Signature Bank
After he had received more than $1 million as a Signature board member, the architect of the Dodd-Frank banking regulations minimized the risks of weakening rules he helped enact post-2008 financial crisis.
Those dolts will put him in power again and he'll lead them off a cliff again- mark my words.
shareCredit Suisse Next To Fail
https://www.dailymail.co.uk/news/article-11857123/Wall-Street-expert-predicts-Credit-Suisse-bank-fold.html
On Tuesday morning, Credit Suisse published its annual report which revealed an $8billion loss for 2022. The bank had been due to publish the report last Thursday, but was sent back to review its books by the SEC.
Shares held steady on the NYSE once trading began, flattening to around $2.54 - a marginal improvement on the morning's low of $2.44 but woefully less than where it stood a year ago, when they traded at above $7.
Today, Credit Suisse said the 'weaknesses' were down to a 'failure to design and maintain an effective risk assessment process to identify and analyze the risk of material misstatements'.
Despite [Robert] Kiyosaki's stark warnings and the panic caused by the collapse of SVB last week, other Wall Street experts are urging caution and calmness.
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Don't panic. But if you're going to panic, do it early...
They made sure they checked the boxes before hiring people with actual banking experience.
Donations and business deals went to BLM and clean.
What they chose to invest in failed.
This is happening in politics, policing and the work force.
Morons with zero experience get a job because of the color of their skin or because they have an abnormal sexual orientation
Like deregulation had nothing to do with it, or Republicans had nothing to do with federally insured savings and loan type banks being able to make high risk investments.
Republicans in full reality denial mode again.
Democrat lockdowns. Democrat policies that lead record inflation. That lead to the fed increasing rates to slow inflation. Due to Democrat policies.
Democrats had 2 years with the White House and congress and did nothing to reverse the “evil Trump deregulation”.
Oh and these banks were run by Silicon Valley Democrats which were oversaw by Democrats.
Any questions?