Norfolk Southern? Say it aint so. Its almost as if they have a track record with this. Oh nevermind. Happens all the time. I forgot.
OT: ext...
- Thread starter Jaemekon
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Norfolk Southern? Say it aint so. Its almost as if they have a track record with this. Oh nevermind. Happens all the time. I forgot.
One of the best Bob & Tom skits. Merging of Norfolk railroad & Way packaging Co. "There's Norfolk & Way your package is getting there on time"Norfolk Southern? Say it aint so. Its almost as if they have a track record with this. Oh nevermind. Happens all the time. I forgot.
Nice punNorfolk Southern? Say it aint so. Its almost as if they have a track record with this. Oh nevermind. Happens all the time. I forgot.
Im sure this kinda thing happens all the time. ALL the time.
UGH. Im not going to say anything because anything I say is "political".
I will say tho, this talk about protecting interests by nuclear use lately is disgusting. No matter who its by.
I mean, JHC humans. You can actually feel the insanity.
we don't really know what was in the truck.. the tweet seems like speculation to me.
I have been doing a lot of digging on this, and while some are trying to blame crypto, it seems this is not at all related to anything crypto, but actually related to the Fed interest rate tightening program.
There are some great interviews out there with a super smart banking guy named Chris Whalen.
The scary thing I heard, is that they might use this as an excuse to go after banks that offer crypto, to effectively shut down crypto on and off ramps.
This puts the investor in a predicament.. do you take your crypto assets out now, while you can, and funnel that money straight back into the system that is collapsing, or do you let those funds ride out for awhile to see where things end up.. say if the US monetary system goes belly up.
This is quite the conundrum.. where it seems people are going to have to pick a side, and maybe pretty soon.
and the damage control:
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Big gov bailing out the rich again…
I'm about 180 miles away from that.. to most Indonesians, this is the equivalent of watching a tornado in Nebraska..
it is not using tax dollars.. the fed will hold those securities until maturity and they are making the depositors whole.. those who owned equity or stock in the bank are not getting bailed out.
I'm about 180 miles away from that.. to most Indonesians, this is the equivalent of watching a tornado in Nebraska..
That's incredible. Look at you, jus a island boy
...I like how everyone cashed out and gave themselves bonuses hours before the official collapse...that place had zero integrity.
Sure buddy.. the fact is the rich are being bailed out since they had funds exceeding 250k fdic limit. Depositors should have taken a haircut..
Where is the shorterm money coming from?
Feel free to put all your money into risky banks that pay higher returns since fdic has no limit.
You don't know what you are talking about.
I am seeing this kind of garbage repeated all over the web, so it's not just here, so you along with lots of other people are getting bad information.
#1. Any investor or shareholder of the bank is getting nothing. There is no bailout for those people.
#2. The whole reason for the failure of the bank is because they put too much of their customer's funds in safe, low risk securities that paid low interest yields. This was before the Fed started raising rates.
The Fed then began raising rates, causing the value of those securities to fall.. to trade at a discount, to get the similar current 5% yield. The Federal Reserve did this all on their own.
This dropped the price of the banks' assets by 20 billion dollars. The only reason this caused a problem is because Peter Theil and others started a run on the bank, to take money out beyond what the bank had in reserves. This forced the bank to begin to sell those long term securities at a 20-30% discount to their actual value. This is why the bank collapsed.
Should the bank have hedged their interest rate / time duration better? Probably.. but this wasn't anything negligent in how the bank ran it's affairs.
Now as to what the federal reserve is doing, they are purchasing those reserves.. all of them and will hold those securities to maturity, just like the bank was planning on doing. The funds received from those securities purchase will go to all the people who held money in the bank.
The bad guy in this whole mess the Federal Reserve in the first place. They are the ones who created this mess by jacking rates up faster than the financial system (in regards to this bank, and potentially others) could pivot and absorb the big change in interest rates.
This costs the tax payer nothing. Zero impact.
Once again.. where are the short term funds coming from? Depositors should have taken a haircut.