Ann Posted March 19, 2023 Share Posted March 19, 2023 1 4 1 Quote Link to comment Share on other sites More sharing options...
Nouseforaname Posted March 19, 2023 Share Posted March 19, 2023 Just now, Ann said: That’s great because the old dollar bill is ugly as hell. 2 Quote Link to comment Share on other sites More sharing options...
Nouseforaname Posted March 20, 2023 Share Posted March 20, 2023 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2023 Author Share Posted March 20, 2023 Bank shares plummet as Credit Suisse rescue fails to quell contagion fears Quote ... UBS shares fell by as much as 16% in early trade, their biggest one-day fall since 2008, amid concerns among investors about the long-term benefits of the deal and the outlook for banks in Switzerland, a country once seen a paragon of sound banking. ... ... European bank shares slumped, with an index of leading lenders (.SX7P) down 5.8%. German banking giants Deutsche Bank (DBKGn.DE) and Commerzbank dropped 10.9% and 8.5% respectively, while France's BNP Paribas (BNPP.PA) fell 8.2%. Those sharp moves followed a day of heavy selling in Asian financial markets as early investor optimism about official efforts to stem a banking crisis quickly evaporated. ... ... Credit Suisse shares slumped 62%, reflecting the huge loss its shareholders will see in their investment in the bank. ... 3 Quote Link to comment Share on other sites More sharing options...
Ann Posted March 20, 2023 Share Posted March 20, 2023 3 hours ago, Foxx said: Bank shares plummet as Credit Suisse rescue fails to quell contagion fears If you really knew what you were doing, there will be some deals to be had today. 2 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2023 Author Share Posted March 20, 2023 31 minutes ago, Ann said: If you really knew what you were doing, there will be some deals to be had today. It is still down on the day, but now on the uptick. Bank shares rise after Credit Suisse rescue eases crisis Quote March 20 (Reuters) - U.S. banking stocks rose on Monday and Europe's lenders recovered from a sharp early sell-off after UBS Group's state-backed takeover of Credit Suisse appeared to close off one source of worry for the global banking sector. ... ... Bonds issued by major European banks fell after some bondholders were wiped out in the deal, but UBS shares were 5% higher, bouncing from a 16% slump triggered by concerns about the long-term benefits of the deal and the outlook for Switzerland, once considered a paragon of sound banking. ... Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2023 Author Share Posted March 20, 2023 Questions... Quote Link to comment Share on other sites More sharing options...
Nouseforaname Posted March 20, 2023 Share Posted March 20, 2023 31 minutes ago, Foxx said: It is still down on the day, but now on the uptick. Bank shares rise after Credit Suisse rescue eases crisis Generally acquiring companies (even in the best circumstances) drop in value after an announcement but as you could imagine, these aren't the best circumstances. From what I understand, the investment banking business will be wound down but the private banking is extremely lucrative. Quote Link to comment Share on other sites More sharing options...
Nouseforaname Posted March 20, 2023 Share Posted March 20, 2023 1 hour ago, Ann said: If you really knew what you were doing, there will be some deals to be had today. Given that the FOMC is this week, I think we will have a few 😁 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 20, 2023 Author Share Posted March 20, 2023 Go away, you plebs! Eat the rich? don't you know, life is a bitch... 2 Quote Link to comment Share on other sites More sharing options...
snafu Posted March 20, 2023 Share Posted March 20, 2023 21 hours ago, Foxx said: The New World Order is taking shape. Financially anyways. https://twitter.com/financialjuice/status/1637559757987889152 https://twitter.com/financialjuice/status/1637560520873070593 https://twitter.com/financialjuice/status/1637560799131574277 https://twitter.com/financialjuice/status/1637561034494885892 https://twitter.com/financialjuice/status/1637561337894035462 https://twitter.com/financialjuice/status/1637561505519370240 https://twitter.com/financialjuice/status/1637561750068273153 The Dollar is still King, I guess. 2 Quote Link to comment Share on other sites More sharing options...
Fansince88 Posted March 20, 2023 Share Posted March 20, 2023 On 3/19/2023 at 10:08 AM, Foxx said: I am debt free, my man, debt free. have been for 12 or so years. Just sold our 168000 mile 2013 Honda Odyssey. Hope to buy the replacement vehicle with cash by the weekend. Really freeing to do that! This is what changed my mindset after becoming a Dave Ramsey disciple. Proverbs 22:7 The rich rules over the poor, And the borrower is servant to the lender. 1 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 22, 2023 Author Share Posted March 22, 2023 Definitely not a bail out. Switzerland’s emergency rescue of Credit Suisse could cost $13,500 for each and every Swiss person Quote Switzerland’s tab for shoring up its reputation as a financial center could run to 12,500 Swiss francs ($13,500) for every man, woman and child in the country. To backstop the emergency sale of Credit Suisse Group AG to its Zurich rival UBS Group AG, the Swiss government pledged to make as much as 109 billion francs available — a hefty burden for the country of 8.7 million people. On top of that, there’s a guarantee from the Swiss National Bank of 100 billion francs that isn’t backed by a government guarantee, according to the deal announced Sunday evening. The combined sum of 209 billion francs is equivalent to about a quarter of Switzerland’s gross domestic product and exceeds total European defense spending in 2021. The price tag for Switzerland’s largest ever corporate rescue could add up to more than three times the 60 billion-franc bailout of UBS in 2008. ... 2 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 22, 2023 Author Share Posted March 22, 2023 Not out of the woods by any stretch... PacWest is not doing well. PacWest lost 20% of deposits amid bank turmoil Quote PacWest Bancorp said it lost 20 per cent of its deposits so far this year but that it had shored up its access to cash by raising $1.4bn via a lending facility from Apollo-backed investment firm Atlas SP Partners. PacWest’s deposits had fallen to $27.1bn as of Monday from $33.9bn at the end of 2022, the Beverly Hills-based bank said in a statement on Wednesday. Nearly two-thirds of its deposits were covered by a US government-backed insurance programme and the bank had more cash on hand than it did uninsured deposits. ... ... PacWest shares were trading down about 3.2 per cent in early New York trading on Wednesday, while the broader KBW Bank index was down about 0.8 per cent. PacWest shares are down more than 50 per cent this month. The deal with Atlas, an asset-backed financing facility, is part of a raft of steps the bank said it had taken to bolster its access to funding as several US regional banks grapple with the fallout of SVB’s collapse. PacWest has drawn on government lending programmes, borrowing $3.7bn from the Federal Home Loan Bank and $10.5bn from the Federal Reserve’s discount window, seen as the two lenders of last resort to US banks. ... 1 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 22, 2023 Author Share Posted March 22, 2023 Capital One CDS are soaring. 1 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 22, 2023 Author Share Posted March 22, 2023 Coinbase issued Wells notice by SEC Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 24, 2023 Author Share Posted March 24, 2023 Surprised this wasn't a thing before now. Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 24, 2023 Author Share Posted March 24, 2023 CRE, the next time bomb? 2 Quote Link to comment Share on other sites More sharing options...
Ann Posted March 24, 2023 Share Posted March 24, 2023 51 minutes ago, Foxx said: CRE, the next time bomb? This has cycled a few times. All those closed stores after covid... 1 Quote Link to comment Share on other sites More sharing options...
Foxx Posted March 24, 2023 Author Share Posted March 24, 2023 5 hours ago, Ann said: This has cycled a few times. All those closed stores after covid... No Covid this time around... Quote Link to comment Share on other sites More sharing options...
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