bank failures

[chizzy]

whats your thoughts on the recent bank failures?

anyone pulling out any large amounts of cash to keep on hand?

[HDGristle]

I'm not a fan of the bailouts, despite understanding the argument for them.

My funds are diversified enough and I have enough liquidity that I don't see any point in irrationally taking out or hoarding cash and feeding the bank run beast

[onawbtngr546]

America will never do this, sadly, because all the old boomers in the banking industry are just going to bail out their buddies at the expense of the people.


I say, let the banks fail. Capitalism to the T. But that will only serve to empower those who are currently in power... nobody wins due to the utter negligence and free reign that banks have been given

[Jacuzzme]

I finally agree with Ona on something. Fuck ‘em. They made the shitty investments and hired people based on skin color and who they stick their dick in. Their problems are their own, plumbers and mechanics shouldn’t be the ones paying for it.

[bambino]

Take your money out of the bank and buy silver. Stash it in your house. You’ll thank me later.

[The_Waco_Kid]

Originally Posted by bambino

Take your money out of the bank and buy silver. Stash it in your house. You’ll thank me later.

don't forget plenty of dry goods, canned goods, water .. and ammo.


a big time bank collapse is the perfect excuse for mass riots and crime. and the Government will use this as a pretext to close all the banks freezing everyone's assets. and declare martial law.

[berryberry]

The customers of SVB should have never been bailed out. They accepted the risk, they needed to pay the consequences.

Alas if it was East Palestine Bank and Trust, or Texas Savings with a bunch of Oil and gas companies as customers they never would have been bailed out.

But because it was Senile Biden's and the crazy ass leftists woke Silicon Valley tech base at Silicon Valley Bank, they were fully bailed out.

As to the other question, as long as you are diversified in a variety of asset classes and institutions, no need to yank funds from the bank.

[Salty Again]

... The politicians will be returning the campaign
contributions they got from SVB bank.... Most of 'em Dems.

Then once the bank fixes-itself with the bail-out money $$$$
- SVB can surely donate to the Dems again... Taxpayer money.

#### Salty

[HDGristle]

Oh my, berry and I agreed on something

[Salty Again]

... Blimey! ... Wouldja look at that!

... Harmony in the Forum! ...

Reckon we could all dance-about the room
and sing "Koom-bi-ya" or something. ... :carols:

... But surely just one verse... Harmony usually don't last.

... Though the bank failures may continue.

#### Salty

[bambino]

Originally Posted by The_Waco_Kid

don't forget plenty of dry goods, canned goods, water .. and ammo.


a big time bank collapse is the perfect excuse for mass riots and crime. and the Government will use this as a pretext to close all the banks freezing everyone's assets. and declare martial law.

I have all of those things.

[DrivesAllDay]

Originally Posted by chizzy

whats your thoughts on the recent bank failures?

anyone pulling out any large amounts of cash to keep on hand?

I doubt anyone here is known for pulling out!!



** Ba-Dum-Bump.**

[Chase7]

I have small sums of money in my local bank, Ally Bank for savings and a financial adviser. Interesting fact even with a financial advisor my investments are down over 25%.


Ally bank regular savings rate is 3.6%. My local bank .003%.

[RegeCordick]

Several smaller banks money market is 2-3%, Fidelity money fund is over 3% , and several larger Banks have savings accounts with immediate access between three and four percent including Marcus, PNC citizens and a few others.