What block?The picture above is from earlier last year. Below is the current bucket that’s in South Atlanta.
Bank regulators seize Silicon Valley Bank in largest bank failure since the Great Recession .... Wells Fargo ??
- Thread starter Gemini
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NopeWhat block?
Man, you know better not to show cash in a public forum.
Interesting….and not surprised.
So, is this where the recession starts?
This bank should not be billed out. I don’t even want to hear it.
Back in 2015
Some on Wall Street say $1.2 trillion in student debt could trigger the next market crash
Jonathan Marino
Apr 29, 2015, 2:18 PM
Famous hedge fund manager Bill Ackman believes that there is a crisis in the student loan business and that this crisis could tank the economy.
Ackman discussed his views with Bloomberg's Jody Shenn and Matt Scully.
He thinks the federal government has loaned out too much money, about $1.2 trillion, to people who can't pay it back. He thinks that eventually, political pressure will force the government to forgive those loans.
If the government did that, it would seriously damage an entire industry that services these loans.
Perhaps because they fear Ackman's prediction will come true, many big banks are fleeing the student loan business.
Ackman believes a seizure in this lending market would result in a major hit to the US economy, the same way that the housing market crash did less than 10 years ago.
Not everyone on Wall Street agrees with Ackman. They believe the demand for education in the US is unlikely to subside. Those students will need to borrow money for tuition. There will be lenders to make those loans. They just won't be the banks.
Others say there's no way the government will forgive $1.2 trillion in loans.
We spoke with Wall Street about the student loan market. This is what they said.
Ackman discussed his views with Bloomberg's Jody Shenn and Matt Scully.
He thinks the federal government has loaned out too much money, about $1.2 trillion, to people who can't pay it back. He thinks that eventually, political pressure will force the government to forgive those loans.
If the government did that, it would seriously damage an entire industry that services these loans.
Perhaps because they fear Ackman's prediction will come true, many big banks are fleeing the student loan business.
Ackman believes a seizure in this lending market would result in a major hit to the US economy, the same way that the housing market crash did less than 10 years ago.
Not everyone on Wall Street agrees with Ackman. They believe the demand for education in the US is unlikely to subside. Those students will need to borrow money for tuition. There will be lenders to make those loans. They just won't be the banks.
Others say there's no way the government will forgive $1.2 trillion in loans.
We spoke with Wall Street about the student loan market. This is what they said.
- One economist at a big Wall Street bank opines that student debt is "still a fiscal headache rather than a financial risk.” He adds: "If anything the passage of time means that legacy privately held student debt is a smaller share of the pie so even less of a debt crisis risk.”
- Others say just because banks may exit student lending doesn’t mean they can’t be replaced. “The new entrants are focused on refinancing and [loan] consolidation,” says a source at one big student loan provider, which he called “back door” loans.
- "If the government cuts back on student loans, there are private lenders looking to pick up the slack," our lending source said.
- "The federal government is no more likely to forgive all student loan debt than it is going to give every citizen living under the poverty line $10,000, though the latter would do more to stimulate the economy,” said Mark Kantrowitz, senior vice president with Edvisors, an online financial planning service for students. "The baseline demand for student loans continues to increase and overall new volume will start increasing again in a few years.”
- “Forgiveness of student loans becomes much harder” when you factor in private lending, said Tom White, cofounder and CEO of iQuantifi. White speculated that when the Federal Reserve does decide to raise rates, as long as no student lending ‘forgiveness’ bill is being debated in Washington, more investors may flock to the private lending side of the business to take virtually guaranteed returns.
- “You’ll see defaults creep up” if private lenders raise rates, too, White said.
I think people are missing the point. It’s not rich people that are losing money on this (for the most part), it’s companies.
The reason they have money in the bank is so that they can pay their employees and vendors.
If there is no money, the losers are the employees.
Just about every single employer in the country has more than 250,000 in the bank. Have you seen the name of the bank on your pay stub?
This is a HUGE problem, and not one about the rich or the banks. Real people are effected by this.
One thing we all should note is the government reaction to this. Especially if Trillions are spent. For Reparations we are doing years of studies and for Student Loan Forgiveness there is talk as if both are highly complicated but the Great Recession Bank bailouts were easy decisions that were paid and evaluated later.
The startup ecosystem is mainly young white,Asian, and Indian males who grew up upper middle class make 150-250k who rotate different Startups/Companies every few years.
And this is why I said there is a ton of money laundering going on with this bank. These start up CEOs are using these companies as shell companies.
Nah man. The first step in funding is seed rounds from Venture Funds. Most of the Venture Capitalists have really good knowledge of Tech, Business, team building, and product management. A lot of them got their money from Tech Startups that made it big. Most of the businesses are legit.
No, they don’t someone to do but most of them use these companies as shell companies go research Willard Romney.
Mitt Romney was in Private Equity. They finance companies that are supposed to be already mature. Venture Capital is early stage. Very different.
This article kinda goes into the difference:
Venture capitalists say Romney is not one of us
When staffers at the National Venture Capital Association see a report that refers to U.S. presidential candidate Mitt Romney's investments as venture capital, they grimace -- and then contact the author to explain politely why it's wrong.
www.reuters.com
Silicon Valley bank had tons of companies, not just startups.
If they don’t bail them out on Monday, a bunch of companies that doesn’t have their money in a big bank are going to pull their money out. We could have dozens of banks go down, and much more people getting their paychecks lost.
Keep an eye on this.
Again, Willard did the same thing the startups CEOs are doing.Mitt Romney was in Private Equity. They finance companies that are supposed to be already mature. Venture Capital is early stage. Very different.
This article kinda goes into the difference:
Venture capitalists say Romney is not one of us
When staffers at the National Venture Capital Association see a report that refers to U.S. presidential candidate Mitt Romney's investments as venture capital, they grimace -- and then contact the author to explain politely why it's wrong.
You have a source for this? I read something much different. Buying with stocks saved him alot on taxes. Using anything else would change that.
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