#Silicone Valley Bank

[luckysomni]

People causing a run on the bank because their accounts were only ensured up to $250,000.:

Me who only has two digits in my bank account:

[diablo1776]

And SVB donated $50 million to the Democratic party as well.. Then, bailed out with our tax dollars.

[kelcipher]

[liberalsarecool]

We have to end this capitalist construct.

[jcbveteran]

Democrats do it again!

The more we look the more is discovered about the deceitful, traitor behavior of the Democrats and the Biden anti American administration.  Now it has been discovered that the Silicon Valley Bank was established with a partnership with Shanghai Pudong Development Bank created a partnership called the SPD Silicon Valley Bank.  No wonder Biden is FULLY replacing money lost in this bank fiasco well beyond  the $250,000 per account,  Looks like it is because this bank and SSVB played a role in putting up the4 money to finance Chinese development in tech industries and providing information  to Chinese regulators.  As well as helping Chinese get funding from this US Bank.

Just when are the American people going to stop these out of control domestic terrorists called DEMOCRATS

[aesthetically0b5essed]

When FUD meets FOMO.

[sinister-yet-satisfying]

I hate it here

Let this be a lesson against believing politicians lies.

Keeping wealth concentrated in the 1% is the end goal of capitalism.

They will do whatever is necessary to keep the working class desperate and dependent on the system that impoverishes them.

[odinsblog]

"We all too often have socialism for the rich and rugged free market capitalism for the poor."

—Martin Luther King Jr.

[rhyperographer]

For anyone wondering what happened to make Silicon Valley Bank here's the TL:DR:

SVB had very few consumer loans. Their investment base was primarily government bonds. A government bond is basically a loan to the gov at a fixed rate for a set period.

Their liability base was primarily consumer and investor savings.

They made money on the difference between what they were paying people in interest for their savings, and what the gov was paying them for the bonds.

They were then investing their profits into startups and tech businesses.

Then the loan rate rose, the interest rate on savings went up in the market, and to stay competative they had to put their rates up. They can't reclaim their investments as startups don't have the money to give back. The rate rises, their profits shrink, and they go boom.

[probablyasocialecologist]

The collapse of Silicon Valley Bank adds to the growing list of evidence we have that the model at the core of the tech industry is deeply flawed, while showing how wrong we ever were to place any faith in the depraved billionaires who lord over it. They spent the past fifteen years eroding the position of workers, extending surveillance practices, funding monopolistic endeavors to destroy traditional industries, and ultimately creating bubbles they knew would burst, but which they hoped to profit off. They pushed a form of rugged individualism where everyone was expected be constantly in competition with one another, and the government would be scaled back as much as possible to get out of the way of their unethical profiteering — at least until they needed the government to step in and save them from themselves.

Already, we’re seeing this whole debacle being used to feed into the more pernicious narratives tech’s most powerful people are pushing to maintain their positions. We know that Peter Thiel is funding far-right political campaigns and Elon Musk is outwardly aligning himself with right-wing culture warriors, but those perspectives are much more entrenched in the Valley than has long been admitted, particularly among the venture capitalists and executive class. For years, the narrative of the tech industry was that it was run by conscientious liberals, but no one can reasonably argue that any longer — if it was ever truly anything more than a marketing pitch for a particular moment in US politics.

[...]

After years of being treated as our saviors, they haven’t responded well to the increased criticism leveled at their industry and the role they’ve played in all the ways tech has made the world a far worse place. People are getting fed up with rampaging Goliaths who want to be treated as heroic Davids until the end of their days. As a result, they’re more openly turning to the extreme right, forging new political alliances, and making open declarations about how they want to continue shaping the world to suit their desires.

[mysharona1987]

[thenib]

Mattie Lubchansky.

[diablo1776]

Don't wait and be a panic buyer once the SHTF

[blackgirlsreverything]

[makingdonalddrumpfagain]

[crippledgiraff]

It’s all lines and shit, fuck it.