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rotor posted:this is gonna fall over and take salesforce tower with it and if we're lucky it will only kill hundreds of people but no one will do anything about it because rich people will lose money. easy solution: imprison the rich people in the falling tower
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Mar 16, 2023 18:11
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FMguru posted:classic traveller, megatravller, traveller: the new era, t4, gurps traveller, traveller d20, or mongoose traveller?  
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Mar 16, 2023 18:12
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LanceHunter posted:Man, if somebody could make an app like that which is able to reliably and verifiably track weightlifting workouts, you'd be a billionaire from gym bros around the planet trying to show off/out-compete one another. sounds like you need internet-enabled smart weights that cost a ton and somehow become un-liftable when the company goes out of business and shuts down the servers
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Mar 16, 2023 18:28
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FMguru posted:...or is located in a highrise built on landfill without a foundation so it is sinking and tilting! ( https://www.architecturaldigest.com/story/millennium-tower-san-francisco-leaning ) quote:The fix engineer, Ron Hamburger,
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Mar 16, 2023 18:30
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Mister Ronald Hamburger
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Mar 16, 2023 18:31
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rotor posted:Mister Ronald Hamburger nee mcdonald
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Mar 16, 2023 18:51
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Shame Boy posted:sounds like you need internet-enabled smart weights that cost a ton and somehow become un-liftable when the company goes out of business and shuts down the servers congrats on your new Tonal
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Mar 16, 2023 19:34
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lol yellen just emphasized that your deposits being insured by fdic will depend entirely and arbitrarily on whether the fdic board considers your bank a systemic risk bob dobbs was right 
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Mar 17, 2023 13:04
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no he wasn’t. he was saying dozens of banks were gonna start falling right away and breathlessly parrotting the vcs crying about their need for a bailout.
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Mar 17, 2023 13:07
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PIZZA.BAT posted:lol yellen just emphasized that your deposits being insured by fdic will depend entirely and arbitrarily on whether the fdic board considers your bank a systemic risk i saw this clip. also yellen said rising unemployment is good because it disciplines workers lol
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Mar 17, 2023 13:12
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Mr. Nice! posted:no he wasn’t. he was saying dozens of banks were gonna start falling right away and breathlessly parrotting the vcs crying about their need for a bailout. no he was saying the collapses would take months / years
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Mar 17, 2023 13:14
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fart simpson posted:also yellen said rising unemployment is good because it disciplines workers lol what a piece of poo poo
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Mar 17, 2023 13:14
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infernal machines posted:what a piece of poo poo - me, on any given day, discussing the united states
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Mar 17, 2023 13:17
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fart simpson posted:i saw this clip. if your fellow working class is more domesticated than it has ever been since industrialized economies first emerged then you can expect that sort of openly-displayed base contempt from your ruling class yeah
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Mar 17, 2023 13:18
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Beeftweeter posted:- me, on any given day, discussing you’re operating system
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Mar 17, 2023 13:18
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pmchem posted:this is chatgpt 3.5 free version but uh I think we're got a while before the bots take over the world Your Opinion/Statement Is Poo, Oh Sorry
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Mar 17, 2023 13:20
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Beeftweeter posted:- me, on any given day, discussing the united states if you dont like it, then get the hell out!!!! thats what i did
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Mar 17, 2023 13:22
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PIZZA.BAT posted:lol yellen just emphasized that your deposits being insured by fdic will depend entirely and arbitrarily on whether the fdic board considers your bank a systemic risk what should she do instead? if she says "everyone's insured" then bankers will do even more coke and gamble even more with depositor money. if she says "only these specific banks are insured" then it will trigger runs on all the other ones. "you might or might not be insured, if you don't wanna find out then don't gently caress around" doesn't seem like the worst middle ground.
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Mar 17, 2023 13:26
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raminasi posted:what should she do instead? if she says "everyone's insured" then bankers will do even more coke and gamble even more with depositor money. if she says "only these specific banks are insured" then it will trigger runs on all the other ones. "you might or might not be insured, if you don't wanna find out then don't gently caress around" doesn't seem like the worst middle ground. they already did this. SVB was literally sending around notices saying "everything fully insured, no limits!" which, yes, is begging to be modified into "everything fully insured? no, limits!" but it's kinda true anyway
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Mar 17, 2023 13:30
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infernal machines posted:what a piece of poo poo
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Mar 17, 2023 13:32
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took a minute to track down in the cspam thread https://twitter.com/charliebilello/status/1635982686111121408   loving disgusting
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Mar 17, 2023 13:38
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Beeftweeter posted:took a minute to track down in the cspam thread i know you took time off yospos but we dont sign our posts anymore
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Mar 17, 2023 13:40
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Beeftweeter posted:took a minute to track down in the cspam thread that's the bridge bank created by the fdic as part of the receivership process. so the fdic is directly responsible for that specific language because a) it's true and b) depositor confidence makes it easier for the fdic to not own the bank anymore
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Mar 17, 2023 13:57
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raminasi posted:that's the bridge bank created by the fdic as part of the receivership process. so the fdic is directly responsible for that specific language because a) it's true and b) depositor confidence makes it easier for the fdic to not own the bank anymore and? it's still exactly what you said: raminasi posted:what should she do instead? if she says "everyone's insured" then bankers will do even more coke and gamble even more with depositor money. if she says "only these specific banks are insured" then it will trigger runs on all the other ones. "you might or might not be insured, if you don't wanna find out then don't gently caress around" doesn't seem like the worst middle ground. they are literally saying "everyone is insured, no limits" and "we are actively making new accounts and extending loans! no downside!"
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Mar 17, 2023 14:03
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they also want to drive up deposits so when they sell the bank off it's worth more
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Mar 17, 2023 14:04
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raminasi posted:what should she do instead? if she says "everyone's insured" then bankers will do even more coke and gamble even more with depositor money. if she says "only these specific banks are insured" then it will trigger runs on all the other ones. "you might or might not be insured, if you don't wanna find out then don't gently caress around" doesn't seem like the worst middle ground. yeah don't get me wrong i wouldn't want to be in her position either. just commenting that we absolutely aren't anywhere close to being out of this mess yet. bob dobbs was right
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Mar 17, 2023 14:06
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AlbertFlasher posted:they also want to drive up deposits so when they sell the bank off it's worth more exactly. they are also encouraging people to do a bank run on the institutions that received the deposits that led to their collapse in the first place, and then some
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Mar 17, 2023 14:06
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Beeftweeter posted:and? it's still exactly what you said: whether it is somehow bad for the FDIC to encourage more people to put their money in SVB I don't know mystes fucked around with this message at 14:09 on Mar 17, 2023 |
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Mar 17, 2023 14:07
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PIZZA.BAT posted:yeah don't get me wrong i wouldn't want to be in her position either. just commenting that we absolutely aren't anywhere close to being out of this mess yet. bob dobbs was right getting excited?
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Mar 17, 2023 14:10
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mystes posted:"everyone" in that quote clearly specifically means "all banks" based on the alternative that is stated so they are not doing that that doesn't matter. they are saying "everyone who deposits at SVB is fully insured up to any amount, which you will not get at another bank" which probably is bad! they effectively removed consequences for the bank behaving badly. it also signals to other banks that they can fail and nothing will happen either
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Mar 17, 2023 14:12
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Beeftweeter posted:it also signals to other banks that they can fail and nothing will happen either hmm, i'm not sure the shareholders that get wiped out in the process would call it "nothing"
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Mar 17, 2023 14:17
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Beeftweeter posted:that doesn't matter. they are saying "everyone who deposits at SVB is fully insured up to any amount, which you will not get at another bank" I mean, the bank was still seized and their $6.3 billion in equity is now literally worthless, so it's not a case of "nothing will happen". Depositors being protected while shareholders get wiped out is not exactly going to cause other banks to decide that they can also just go buck wild.
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Mar 17, 2023 14:22
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Jabor posted:hmm, i'm not sure the shareholders that get wiped out in the process would call it "nothing" "an annoyance" maybe
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Mar 17, 2023 14:25
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LanceHunter posted:I mean, the bank was still seized and their $6.3 billion in equity is now literally worthless, so it's not a case of "nothing will happen". Depositors being protected while shareholders get wiped out is not exactly going to cause other banks to decide that they can also just go buck wild. what does that matter to the bank as an institution? they don't need the shareholders now, and the people working there are actually making 1.5x what they were
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Mar 17, 2023 14:26
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AlbertFlasher posted:they also want to drive up deposits so when they sell the bank off it's worth more it's not "also," this is the point. the fdic doesn't want to own the bank because long-term bank ownership isn't their job, and the more depositor money it has the more attractive it is to buyers.
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Mar 17, 2023 14:27
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fart simpson posted:getting excited? not really, no
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Mar 17, 2023 14:28
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Beeftweeter posted:what does that matter to the bank as an institution? they don't need the shareholders now, and the people working there are actually making 1.5x what they were what's "the institution" to you? executive leadership turned over. the logo? the workers?
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Mar 17, 2023 14:33
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Beeftweeter posted:what does that matter to the bank as an institution? they don't need the shareholders now, and the people working there are actually making 1.5x what they were I mean, if you just want to see people who work at a bank punished for the Manichean evil of being bankers, then I can understand how it is unsatisfying that they are not being put into mediaeval torture devices just so they can properly suffer. But for every other bank out there, they still have to answer to their shareholders (and, in fact, many of the bank executives also hold significant shares in their banks as well). Those shareholders don't want to get wiped out, the C-suite doesn't want the millions of equity that's included in their TCP to become worthless, and the fact that some of the management will temporarily make more money during a bank failure (until the bank is fully absorbed and they are made redundant in the new organization) is not going to present significant moral hazard.
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Mar 17, 2023 14:34
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raminasi posted:what's "the institution" to you? executive leadership turned over. the logo? the workers? ...the bank as a business? yes, they are now under receivership, but removing the ceo is no guarantee that their actual practices will change. afaik the rest of the c-suite remains the same
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Mar 17, 2023 14:41
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Beeftweeter posted:...the bank as a business? yes, they are now under receivership, but removing the ceo is no guarantee that their actual practices will change. afaik the rest of the c-suite remains the same if your problem is that the c-suite isn't being sufficiently punished, then how does screwing over uninsured depositors help? you think they don't care about shareholders, what makes you think they care about uninsured depositors?
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Mar 17, 2023 14:49
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