Post ATWIaDbax8dtbfMzpo by KimPerales@toad.social
 (DIR) More posts by KimPerales@toad.social
 (DIR) Post #ATWIaDbax8dtbfMzpo by KimPerales@toad.social
       2023-03-11T22:32:38Z
       
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       The Hedge Fund SNAKES are preying on SBV's start-up customers. There's no honor among THIEVES, but the start-ups aren't all thieves. There's not enough information yet to determine the course for these companies: Bids range from 60 to 80 cents on the$ -reflecting a range of expectations for how much of the uninsured deposits will ultimately be recovered once the bank’s assets are sold or wound down. ~96% of SVB’s deposits as of 12/31/22 were uninsured-: https://www.semafor.com/article/03/11/2023/hedge-funds-offer-to-buy-deposits-stuck-at-silicon-valley-bank
       
 (DIR) Post #ATWIw2iS7V3aCjz4ro by Unclebrain@mstdn.party
       2023-03-11T22:36:35Z
       
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       @KimPerales Corporate Greed to the rescue.
       
 (DIR) Post #ATWJHm6oXruL4Mk3Lk by newtonsommelier@vmst.io
       2023-03-11T22:40:31Z
       
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       @KimPerales ... It never ends, the speculative destruction. The system cannot reform itself. We need radical change. Congress is never ever going to impose overall size/asset limitations or reduce debt-to-equity ratios. It's almost as though Wall St and the fossil-fuel industry are competing to see who can kill us off faster. Bankers such as Paul Volcker and Alan Greenspan outright wrecked the economy four times in my career: the 1982 recession, the S&L crisis, the dot.com collapse, and '08.
       
 (DIR) Post #ATWVbsTrlP9I4ZsORM by MHowell@mas.to
       2023-03-12T00:58:33Z
       
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       @KimPerales  It took about 3 years to unwind my grandma's funds that were invested in a firm that was part of the Savings and Loan bust so we could close her estate. If I recall correctly, it involved about $4k and we recovered ~$3500.