People gathering outside the bank following the second largest bank collapse in US history
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I count 7
Spirit Halloween gonna do great things with that safe
its a wonderful life 2
Snowed in California so hard this winter lots of buildings collapsed not just banks
>Startup-focused lender SVB Financial Group (SIVB.O) became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded.
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>89% of the bank’s $175 billion in deposits were uninsured as the end of 2022, according to the FDIC, and their fate remains to be determined.
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>Companies such as video game maker Roblox Corp RBLX.N and streaming device maker Roku Inc (ROKU.O) said they had hundreds of millions of dollars in deposits at the bank. Roku said its deposits with SVB were largely uninsured, sending its shares down 10% in extended trading.
>
>Technology workers whose paychecks relied on the bank were also worried about getting their wages on Friday. An SVB branch in San Francisco showed a note taped to the door telling clients to call a toll-free telephone number.
[https://www.reuters.com/business/finance/global-markets-banks-wrapup-1-2023-03-10/](https://www.reuters.com/business/finance/global-markets-banks-wrapup-1-2023-03-10/)
​
[Biggest bank failures in US](https://en.wikipedia.org/wiki/List_of_largest_U.S._bank_failures):
1. Washington Mutual Bank, Year 2008 – $307 billion in assets ($426 billion after roughly adjusted for inflation until 2023)
2. **Silicon Valley Bank, Year 2023 – $209 billion in assets**
3. Continental Illinois National Bank and Trust, Year 1984 – $40.0 billion in assets ($115 billion after roughly adjusted for inflation until 2023)
It’s funny because the day before the collapse of this bank the Dow was down due to the “jobs numbers” yet we now know that was a lie.
In 2008 I learned that CNBC was just a front for psycho capitalist shills and Dylan Ratigan was the only one at the time to say that the collapse was dogshit and the bankers were fleecing the public without consequence.
A month ago Jim Cramer said to buy this shit box of a bank. And now this.
Occupy Wall St was right and we should have jailed all of the bankers.
EDIT: the footage
https://www.reddit.com/r/videos/comments/11nwdin/with_silicon_valley_bank_going_out_of_business/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
EDIT 2: DRS everything you have.
The second largest bank collapse in US history? Surely that can’t be correct.
Only one man can save them
Great reminder for everyone to learn about FDIC insurance and be sure to know how it works. My dad was really vigilant about it and I thought he was being paranoid but then I learned.
Seems a rather docile gathering for the 2nd largest bank collapse in US history
“There are dozens of us! Dozens!”
Everything that Conservatives & Moderate Democrats warn will happen in the future if the United States embraces Socialism is happening now, on a daily basis, under Capitalism.
No more bailouts unless all the execs have to first empty their bank accounts and liquidate their assets. They made the decisions. They made tons of money. Now they give it all back or their company goes bye bye.
Using nonFDIC instruments to make extra money? Well, that extra interest comes with extra risk. You gamble and lose, you lose. Stop corporate bailouts.
I guess we’ll be seeing a lot of Patagonia Vests at soup kitchens
As the son of a career bank branch manager, it’s funny to me that people think that these branches have just piles of cash you can go claim. There is very little hard currency. In fact, if they did have all your money just sitting in back, they wouldn’t be in this situation.
Have you people never seen *It’s a Wonderful Life?*
Cramer is like the mayor in Jaws. Mayor Vaughn : [to reporter] I’m pleased and happy to repeat the news that we have, in fact, caught and killed a large predator that supposedly injured some bathers. But, as you see, it’s a beautiful day, the beaches are open and people are having a wonderful time. Amity, as you know, means “friendship”.
You call that a bank run? I’ve seen more people gathered outside a Dunkin Donuts waiting for it to open.
Second largest so far.
But they money’s at Fred’s house and Bill’s house!
It’s only allowed to fall because it’s not big enough.
Did everyone bring their backpacks thinking they would just fill up on cash and peace out.
Darth Cryptos showed up to watch the chaos.