SVB Bank
- Thread starter Island Drive
- Start date
I saw a news article about a run on SVB and clicked it thinking it was about pool.
Definitely better received in the funny pic thread.
Silicon Valley investors and founders express shock, describe struggles to get money out of SVB
Silicon Valley investors and founders express shock over SVB's collapse, describe struggles to get money out
As Silicon Valley Bank was taken over by the FDIC on Friday, investors and start-ups with money there struggled to make sense of the situation.
www.cnbc.com
Iwishiwasrich
Well-known member
My boss had to write all of his employees paper Checks today because our direct deposits weren't deposited. SVB bank is where the payroll company has all of the money. FDIC took them over saying all depositors should have access on the 13th.
It looks like their stock started dropping like a rock and a bunch of people withdrew their funds.
It looks like their stock started dropping like a rock and a bunch of people withdrew their funds.
Iwishiwasrich
Well-known member
Silicon valley Bank not to be confused with Shane Vanboening's bankroll which if I had to guess is doing ok.
skiergd011013
Well-known member
my favorite part is that the ceo, greg becker, sold more than $2 million in bank stocks in the last two weeks. Also, The chief marketing officer, michelle draper, Chief operating officer phil cox, and general counsel michael zuckert all sold large amounts of svb stock this year. They saved their own a**** while hanging their customers out to dry.
This looks like 08' all over again. Im watching the housing market closely.
This looks like 08' all over again. Im watching the housing market closely.
Shane can shoot pool, therefore he has a future.
Stock holders? Remember to always go the opposite direction of Jim Cramer.
Stock holders? Remember to always go the opposite direction of Jim Cramer.
Yeah for _one_ Ponzi scheme.
xX-Wizard-Xx
Well-known member
just another glitch in the Matrix
According to the news, only up to $250000.
No…”Employing Emergency Measures“, the FDIC will insure full deposit amounts, even above the normal 250k limit.
Oprah had millions in that bank, should Pool players bail her out or can we all agree, HELL NO.
I have mixed feelings about it. I think businesses should suffer when they take risks that don’t work out. But the 250k limit is really outdated for business. Payroll for medium businesses now can be 250k a month.
skiergd011013
Well-known member
The average account in that bank was $1.1 million. The rich being protected by the ones they lobby. Wasnt there a law put on the books after the 08' crash saying no more bailouts with taxpayer money? And dont tell me this isnt taxpayer money. We will pay the bill one way or another.....most likely through inflation.