Yeah I think @anotherdevilsadvocate was mentioning about SI rather than SIVB Bitcoin, ether fall after go-to crypto bank Silvergate announces liquidation (cnbc.com)
Silvergate's Woes Are Sending Signature Stock Lower, but It Might Be a Buy | Barron's (barrons.com) SBNY is another bank stock to watch, it has a lot of exposures to crypto
SIVB is startup focused and it is not a great environment for startup right now with higher interest rates, looks like the management also had some missteps by suffering big bond losses too Bond Losses Push Silicon Valley Bank Parent to Raise Capital - WSJ
Thank you for finding that...I remember there was another bank that was somewhat in Silvergate's shoes, and I was wondering if it was SIVB since it is down so much today. But now I remember it was SBNY. All these banks being down confused me. Kinda non-traditional crash today. Techs did NOT lead it down (although small caps did). And rates starting to come down. SPX has to hold 3805 this month.
Banks are in deeper trouble than they want you to know. Some are still sitting on Tbills that are technically worthless. Loans are faltering at a high percentage. Those claiming the economy is strong are smoking the Crack pipe. It's going to be a slow walk up the hill to get out of this mess. Credit Suisse is just the beginning. The little bank in Cali that crashed 70% today should be a signal.
SVB Financial Group (SIVB) Stock Price, News, Quote & History - Yahoo Finance LOL SIVB down another 20% AH
I guess I'll have drive to the place and snatch a few bushes to get some of my money back. Word is GS may buy them out. Peter Thiel's puts paid off, that's all that matters. I gambled,I lost. Next.
FDIC closes Silicon Valley Bank after bank fails to raise new capital (Yahoo Finance). Troubled lender Silicon Valley Bank has been closed by the FDIC after deposit outflows and a failed capital raise sent the firm into crisis this week. In a statement released late Friday morning, the FDIC said: "Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank." Shares of the bank's parent company, SVB Financial (SIVB), remained halted for trade on Friday after having lost 60% on Thursday and another 60% in pre-market trading on Friday. The FDIC's statement continued: "All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors."
I got Dibbs on the bushes and misc. landscaping. I want some of my thousand bucks back. All the gold in California is in a Bank in the middle of Beverly Hills in somebody else's name.
SVB Financial Group, shut down by regulators on Friday after a run on deposits, is known for its close partnerships with tech companies. But it’s also a lender to clean energy firms, including Sunrun (ticker: RUN), the largest residential solar developer in the U.S. That relationship appears to be impacting Sunrun’s stock, which was down as much as 13% on Friday. The bank has promoted its relationship with Sunrun on its website, noting that it was an early believer in Sunrun’s business model. It lent the company money in 2014, a year before Sunrun went public. That relationship has continued. SVB (SVIB) was one of the lead banks arranging a $575 million loan for Sunrun in January that’s expected to finance solar panels the company places on people’s homes. Neither Sunrun nor the bank immediately responded to requests for comment on what the bank’s troubles might mean for their relationship. Other solar developers, including Sunnova Energy International (NOVA) and SunPower (SPWR), don’t mention SVB in their most recent annual reports. “The potential risk here is Sunrun loses some of its credit facility funding ability,” wrote Gordon Johnson, an analyst at GLJ Research who has been skeptical of Sunrun’s business model. Sunrun depends on outside lenders to finance its projects, because it pays for the equipment that gets installed on clients’ roofs in advance. Homeowners then pay Sunrun fees every month for the power their panels produce through contracts that can last 20 years. One analyst said that other banks are likely to step in even if SVB Financial Group SIVB 0.00% is forced to slow its lending, so investors shouldn’t worry. “SVB has been involved in lending to countless renewable energy companies… this is nothing unique with Sunrun,” wrote Raymond James analyst Pavel Molchanov in an email to Barron’s. “Even more to the point, the banking industry across the board has very strong appetite for lending to solar and other renewable energy projects. Banks love lending to these kinds of businesses because of the generally low risk involved, and also because it improves their ESG scores. So, if one lender exits the market, there is plenty of capacity elsewhere.”
Silicon Valley Bank CEO urges investors to stay calm, even as shares plunge - YouTube LOL to stay calm and then the bank is shut down today
