To the bears whining about crypto---

VicBee said:
2008 and SVB are very different. In the first, banks and borrowers (among others) were complicit. In this case, only the bank mismanaged its business by failing to anticipate and correct early enough their investments in light of the Fed's repeated interest rate increases. At least SVB cannot be accused of investing in high risk instruments. But the irony is their conservative choices are their downfall.
More...

Buying bonds which are at historical low yields is not conservative even if they are "risk-free"

Anyway, countries stopped buying US Treasuries so the Fed encouraged the banks to buy them

Then last year, the Fed performed what we term in the cryptos ecosystem as a "rug-pull" when the Fed performed the fastest change in the monetary policy and raised rates at a very fast pace

Be that as it may, it seems there is now a way to return the favor to the banks as this SVB and SBNY crisis is an opportunity

I hope we are all ready for the tons of liquidity that may possibly come

https://twitter.com/x/status/1635110620864581633
 
The Fed will create a new Bank Term Funding Program (BTFP) whose purpose will be to safeguard institutions impacted by the collapse of SVB. This facility will provide loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral, the Fed said in a separate statement.

Source: https://www.thestreet.com/banking/federal-regulators-launch-25-billion-program-to-protect-deposits#:~:text=The Fed will,a separate statement. (I should get the original from the Fed, but feeling too damn lazy to snoop around.)

It clearly states "institutions impacted by the collapse of SVB", so where does THE 4 BIG US BANKS come from?
 
schizo said:
The Fed will create a new Bank Term Funding Program (BTFP) whose purpose will be to safeguard institutions impacted by the collapse of SVB. This facility will provide loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral, the Fed said in a separate statement.

Source: https://www.thestreet.com/banking/federal-regulators-launch-25-billion-program-to-protect-deposits#:~:text=The Fed will,a separate statement. (I should get the original from the Fed, but feeling too damn lazy to snoop around.)

It clearly states "institutions impacted by the collapse of SVB", so where does THE 4 BIG US BANKS come from?
More...

The Fed's financing will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year to banks, savings associations, and credit unions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral.


Who makes the decision to reject any bank application? I do hope that they are transparent on the loans being granted, then we can all discuss here on ET

I just think it's all going to be hidden from the public to "protect the privacy of the banks needing a bailout, er, I meant a loan
 
Nothing to see here folks! Everything is A-OK! Move along now...

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Hey! I heard there is a tiny crypto-exchange in Timbucktoo that is having trouble making withdrawl payments this morning. OMG! Everyone, pay attention now, this is national news!
 
And it gets even better folks!

Turns out that just HOURS before the death-knell announcement, the bank paid themselves their million dollar bonuses!

How is THAT for a return to 2008-2009 for you?

That's right.... exact same shit. We are back at it AGAIN!

If this happened in some other country you risk getting a revolt with pitch-forks in the air. How many times can the American public allow this to happen over and over? I think there needs to be a pun to that joke.
 
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