It’s standalone enough imo.
The US banking system is built on the fact banks collapse. It’ll be grand.
UK and European banks mark their bonds to market. It’s a day to buy bank shares.
I see your man in Malaysia got 10 years. In fairness he swung big. No piffling 7 or 8 million.
Thing is, he’d have been loaded anyway, but🤷
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I think flatty in a former life was puffing on a cigar on the upper deck of the Titanic.
FDIC bailing out depositors now, stay tuned.
Money doesn’t exist. It’s nothing.
It’s a confidence trick.
The worst that will happen is a bit more inflation and a weaker dollar for a while as the fed print some imaginary money.
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I’m going over in September so hopefully it will still be weak enough by then. It’s eye wateringly expensive there now.
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Fantastic for lads heading the opposite direction.
The hotels and bars here are making out like bandits out of them.
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Will this be finally the moment for Zerohedge and the lads who regurgitate every word they say?
It seems a niche enough market. I’d imagine it will cause carnage for the startup world and they are already way over valued. As always stay clear of anything with a high P/E.
The FED will try and find a buyer this weekend. From brief reading up on it, it sounds like a panic rather than the bank being that bad so maybe they will find a buyer. If not Monday will be carnage. Be a lot of bankers and corporates working overtime this weekend to see what kind of exposure they have. A lot of it won’t be immediately obvious. Short term problem is all the start ups won’t be able to access their cash. And I see at least one big payroll company in the US uses them to clear transactions so a shot of companies with no exposure will be drawn in.
You’d imagine the big boys won’t want anyone really examining banks balance sheets and will buy it up between them.
Some mess. All that cheap money sloshing around the last 15 years has to come back to bite eventually. Not sure if this will be the trigger yet. But we will have to wait and see
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I was there in Feb. In New York. It’s crazy expensive. Minimum tip (post Covid) is 20 per cent. Ating out is crazy dear. NYC is gone a bit grimey too.
I’m back next week on my first post Covid bidniz trip. DC and NYC. I’ll be living it up on expenses but even then there’s a line
I’ll update the appropriate thread at the appropriate time.
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Lolz. David Sacks is Elon Musk’s best bud and number two at Twitter. And he loves Putin. And everything I can make out suggests that like, Musk, he’s a dangerous head the ball.
These people are a joke, unfortunately the joke is on the rest of the world, not them.
A poor man’s nick leeson
Not a bad comparison.
Several Credit Unions nearly failed post the Tiger. Many of them would have failed only for state intervention. But yes the would generally be very risk averse places.
That was more down to failures in compliance and hungry cunts than very risky lending
Some of them were very risky lending. Some of them were investments they shouldn’t have made/didn’t understand