will25u said:

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Probably nothing.

https://www.usnews.com/news/top-news/articles/2023-03-24/yellen-chairs-closed-us-financial-stability-oversight-council-meeting

Quote:

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U.S. Treasury Secretary Janet Yellen will chair a closed meeting of the Financial Stability Oversight Council on Friday morning, according to daily media advisory for the department.

...

Friday's meeting brings in a much broader pool of regulators, including the heads of the Office of the Comptroller of the Currency, which regulates national banks and federal savings associations, as well as of the SEC, the National Credit Union Administration and other agencies.

Much of the body's work in recent months involves laying the groundwork for new financial regulations aimed at integrating climate change risk management into the regulatory system.

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F your climate change BS

aggielostinETX said:

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All that's going to happen is smaller banks are now going to be feeling the pressure that larger banks have been feeling for years. What this means is the double the size of the regulatory force, write more MRAs, and increase the cost of doing business. And spend more tax dollars.

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Absolutely NONE of which addresses the problem that occurred at SVB.

Why has KPMG not been indicted yet? My guess is the shredders and bleach bits are running full steam at the firm.

JUST IN: Leaked internal model from Silicon Valley Bank shows that management knew about the potential failure well in advance.

The model showed that "higher rates could have a devastating impact on the bank."

Their response?

SVB executives "changed the model's assumptions" to…

— The Kobeissi Letter (@KobeissiLetter) April 2, 2023

Former employees said that “every quarter, there was always this pressure to deliver earnings.”

Pushing for the change in assumptions was Dan Beck, SVB’s CFO.

"The change made several mid-level bank officials uncomfortable."

— The Kobeissi Letter (@KobeissiLetter) April 2, 2023

Here is the source outlining the entire situation and newly leaked documents:https://t.co/NDgwtjtoam

— The Kobeissi Letter (@KobeissiLetter) April 2, 2023

Arrest, prosecute, and confiscate all assets of senior management, the Board, any oversight agencies, accounting firm, and possibly extend that down to some of these mid-level guys who in typical weak-kneed fashion say the line 'it made me uncomfortable" - which is complete neck beard bull*****

Without consequences, people have no fear.

no one will go to jail

fka ftc said:

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Arrest, prosecute, and confiscate all assets of senior management, the Board, any oversight agencies, accounting firm, and possibly extend that down to some of these mid-level guys who in typical weak-kneed fashion say the line 'it made me uncomfortable" - which is complete neck beard bull*****


Without consequences, people have no fear.

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Did they commit any actual crimes? If not, we're going to need to change some laws 1st......


Re-implementation of Glass-Stegall is a good starting point.

Quote:

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"The Glass-Steagall Act was repealed in 1999 amid long-standing concern that the limitations it imposed on the banking sector were unhealthy and that allowing banks to diversify would reduce risk.

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Weak responses made by weak people lead to weak results.

Anyone with a brain cell inside SVB knew what they were up to and complicit. Arrest them, make them PAY both in money and freedom.

Folks on here could start by just simply saying if you have any connection to SVB and KPMG, you are mot welcome to apply in XYZ company you may own / work for.

When they dispersed Arthur Andersen's ilk in the early 2000s, it was to the detriment of the remaining 4 firms.

I agree with you to a point. But if they were on the right side of the law, you can't arrest them for being stupid and reckless (unfortunately).

There's a much bigger problem in this country than just the Board and admins of SVB. i.e. - Our banking laws are written by lobbyist who work for the banks and financial institutions.

I am all for public hanging of these SVB folks but we can't do it if they didn't break any laws.

In a Country that 81 million people vote to hang Trump for personal bookkeeping discrepancies (alleged) on financial reports that were never filed, issued or replied upon, then yes I think we can find a law somewhere those folks violated and lock them up or just execute them on the spot.

Biden and Bragg have made it clear that laws and justice are plainly irrelevant if you have power.

fka ftc said:

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In a Country that 81 million people vote to hang Trump for personal bookkeeping discrepancies (alleged) on financial reports that were never filed, issued or replied upon, then yes I think we can find a law somewhere those folks violated and lock them up or just execute them on the spot.

Biden and Bragg have made it clear that laws and justice are plainly irrelevant if you have power.

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Representatives, elected or otherwise, of a portion of 81 million people*

Fifty.

Ps, I love your hot takes, too

Quote:

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During Thursday's meeting with the CEOs of large banks, Treasury Secretary Janet Yellen told executives that more bank mergers may be necessary as the industry continues to navigate through a crisis, two people familiar with the matter told CNN.

The comments from Yellen provide further evidence that Biden officials are starting to warm up to the idea of bank mergers despite concerns from progressives and the administration's own scrutiny of corporate concentration.

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We are on the precipice of a global economic meltdown. The monopoly board is about to get flipped over.

I think this gets kicked off in August / September and escalates through Q4.

We are likely to see smaller banks in the US absorbed by six major banks which will ultimately become subsidiaries of the state.

We are probably also looking at a major currency crisis. It's likely that some of the global currencies will be forced to consolidate as one.

By the beginning of 2024 we are likely to see the rollout of some sort of CBDC / digital dollar regime.

All this is about to come on us much faster that we can conceptualize.

Zergling Rush said:

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you can't arrest them for being stupid and reckless (unfortunately).

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Negligence in the banking industry is not against the law?

No relevant, but maybe it is; Yesterday, I met a cyber security strategist for Silicon Valley Bank at a local cyber security conference held by the FBI.

Given several of the threads it makes you think.

There is an effort underway to conduct a controlled decent of the global economy.

At some point it's all gonna bust loose.

I think theres a lot of banks (and insurance companies) that are dead man walking.

Theres a concerted effort to not allow all the banks to fail at once until a soft landing can be orchestrated.

Thats why we've seen a major bank failure every few weeks with brief a pause in action to let things stabilize. We pulling the band-aid off slow.

Who knows what will happen, but I'm expecting all hell to break loose by the end of the year.

Adverse Event said:

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fka ftc said:

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In a Country that 81 million people vote to hang Trump for personal bookkeeping discrepancies (alleged) on financial reports that were never filed, issued or replied upon, then yes I think we can find a law somewhere those folks violated and lock them up or just execute them on the spot.

Biden and Bragg have made it clear that laws and justice are plainly irrelevant if you have power.

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Representatives, elected or otherwise, of a portion of 81 million people*

Fifty.

Ps, I love your hot takes, too

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How sweet! Another TexAgs hookup!

Stat Monitor Repairman said:

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Will the pilot at least inform us why we are buckling up?

Crisis averted.

Congratulations to Biden, Yellen, the Federal Reserve and the BIS.

Thought for a moment there we were flying too close to the sun but they've re-assured us that the problem has been resolved and everything is gonna be ok.

This is a few weeks old. There is a big one on page 4 right here in TX.

https://finance.weissratings.com/media/wri/PDF/SWS/Red_Warning_Flag_Banks.pdf

You know the cinder block scene in Old School?

We are at the part where Will Ferrel is asking if everyone trusts that they measured the ropes the correct length.

Stat Monitor Repairman said:

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Quote:

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During Thursday's meeting with the CEOs of large banks, Treasury Secretary Janet Yellen told executives that more bank mergers may be necessary as the industry continues to navigate through a crisis, two people familiar with the matter told CNN.

The comments from Yellen provide further evidence that Biden officials are starting to warm up to the idea of bank mergers despite concerns from progressives and the administration's own scrutiny of corporate concentration.

---

We are on the precipice of a global economic meltdown. The monopoly board is about to get flipped over.

I think this gets kicked off in August / September and escalates through Q4.

We are likely to see smaller banks in the US absorbed by six major banks which will ultimately become subsidiaries of the state.

We are probably also looking at a major currency crisis. It's likely that some of the global currencies will be forced to consolidate as one.

By the beginning of 2024 we are likely to see the rollout of some sort of CBDC / digital dollar regime.

All this is about to come on us much faster that we can conceptualize.

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On that note ...

More evidence to support the idea of local and regional banks being absorbed by the big-6.

Yes. Have taken recent action to reduce exposure on this.

BREAKING NEWS

A PARLIAMENTARY INVESTIGATION INTO THE COLLAPSE OF CREDIT SUISSE WILL KEEP ITS FILES CLOSED FOR 50 YEARS

50 years.

I will be almost 80 years old.

— Gold Telegraph ⚡ (@GoldTelegraph_) July 15, 2023

This is nice.

I guess they'll file it in the same place as the vaccine data.

Quote:

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MinneapolisCNN

More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday.

The number of people who made a hardship withdrawal during the second quarter surged from the first three months of the year to 15,950, an increase of 36% from the second quarter of 2022, according to Bank of America's analysis of clients' employee benefits programs, which are comprised of more than 4 million plan participants.

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Stat Monitor Repairman said:

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BREAKING NEWS

A PARLIAMENTARY INVESTIGATION INTO THE COLLAPSE OF CREDIT SUISSE WILL KEEP ITS FILES CLOSED FOR 50 YEARS

50 years.

I will be almost 80 years old.

— Gold Telegraph ⚡ (@GoldTelegraph_) July 15, 2023

This is nice.

I guess they'll file it in the same place as the vaccine data.

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In this case the constitutional republic dies in darkness

Stat Monitor Repairman said:

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Quote:

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MinneapolisCNN

More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday.

The number of people who made a hardship withdrawal during the second quarter surged from the first three months of the year to 15,950, an increase of 36% from the second quarter of 2022, according to Bank of America's analysis of clients' employee benefits programs, which are comprised of more than 4 million plan participants.

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It always goes in the same order.

1. First they blow through available cash
2. Then savings
3. Then credit
4. Then they start scavenging whatever they can get
5. When they can no longer scavenge, some will actually go back to work, get a second job, and attempt to make more money.
6. When that no longer helps or doesn't pan out, that's when the fire sales start.

We are on step 4. Watch over the next 6 months as fast food joints should start seeing an influx of workers who spent the last 3 years as YouTube reactors.

JFABNRGR said:

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This is a few weeks old. There is a big one on page 4 right here in TX.

https://finance.weissratings.com/media/wri/PDF/SWS/Red_Warning_Flag_Banks.pdf

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To save the search

USAA Federal Savings Bank $110,900,000

Pretty sure that number is in 1,000

Stat Monitor Repairman said:

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Quote:

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MinneapolisCNN

More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday.

The number of people who made a hardship withdrawal during the second quarter surged from the first three months of the year to 15,950, an increase of 36% from the second quarter of 2022, according to Bank of America's analysis of clients' employee benefits programs, which are comprised of more than 4 million plan participants.

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Move it into cash flowing real estate

There are plenty of people who have worked throughout but can't keep up with Bidenomics. They were living in a paycheck to paycheck world until he blew the lid off that and turned hard working Americans into desperate Americans. We're living through the end of America as we have known it. There will be wealthy and desperate and nothing in between.

Anybody know what the deal is with this Evergrande situation in China?

Stat Monitor Repairman said:

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Anybody know what the deal is with this Evergrande situation in China?

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People did what the centralized Chinese government told them to do.

It failed, like all Communism.

Lower levels heads must be chopped to save government officials.

It's more complicated than that, overall, but is a fairly succinct summary.

Detmersdislocatedshoulder said:

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i am not 100% certain if this is the canary in the coal mine or not but what i can tell you is there is a day in the not to distant future where many americans will learn what the term bank bail in means and it will be to late.

it is all a mirage and when the derivative bubble pops this time it will take everything down with it.

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How do we avoid it? Metals, food, guns, ammo?