How’s the stock market?

Northern_Shores

Miki Dora status
Mar 30, 2009
4,512
4,451
113
Ok. No more dollar, inflation or Reddit macroeconomics.

Got any hot stonkers?

I did throw in on the bank idea of @r32 :/ Coulda made some good money off of those :) I spent the day sorting out the portfolio after the last few days carnage. Had to throw out a bunch to keep the leeches at the online broker from selling my sh!t by force. Then buy in again today.
 
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casa_mugrienta

Duke status
Apr 13, 2008
43,663
18,165
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Petak Island
People that say "let the banks fail" out of spite or class jealousy don't seem to appreciate the ramifications of bank failures. Runs on banks is one of the most psychologically contagious pathogens in existence, and can easily bring down the whole banking system. When that happens, the economy just shuts down. We all remember 2008 but read up on what went down in 1929-33.

It is of utmost importance that we do whatever it takes to keep the banking system alive and working. Of course tighter regulations and good management greatly reduce the need for the government bailing out their sorry asses!
:foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap:

I should start a bank. lol.

No consequences for utter complete negligence.

Your sort of thinking is the utter chickenshit that got us into this situation in the first place.

Zero spite or class jealousy here.

The FDIC should have let the banks fail and insured deposits up to 250K as they had promised.

Would there have been problems? Yes.

Would the country have come to a halt? No.

Would a vital lesson have been learned that would likely have ended in our financial system being more sound? Yes.

Now we have the Fed acting in a consequence free environment as the deposit insurer to trillions of dollars with no limits. It's fvcking insanity.

Since they've committed to bailing out the banks what happens when other industries, the states, cities, etc start clamoring for bailouts? Where will that money come from?

A return to QE and inflation taking off is going to be a much bigger problem than letting some banks fail.
 

Bob Dobbalina

Miki Dora status
Feb 23, 2016
4,340
4,751
113
:foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap::foreheadslap:

I should start a bank. lol.

No consequences for utter complete negligence.

Your sort of thinking is the utter chickenshit that got us into this situation in the first place.

Zero spite or class jealousy here.

The FDIC should have let the banks fail and insured deposits up to 250K as they had promised.

Would there have been problems? Yes.

Would the country have come to a halt? No.

Would a vital lesson have been learned that would likely have ended in our financial system being more sound? Yes.

Now we have the Fed acting in a consequence free environment as the deposit insurer to trillions of dollars with no limits. It's fvcking insanity.

Since they've committed to bailing out the banks what happens when other industries, the states, cities, etc start clamoring for bailouts? Where will that money come from?

A return to QE and inflation taking off is going to be a much bigger problem than letting some banks fail.

Yes.
Except I have massive amounts of spite and class antagonism, not jealousy.
Fuck em
 
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menobrah

Gerry Lopez status
Feb 28, 2021
1,059
2,155
113
Contagion is real, our entire financial system is based on how we feel about it...they are desperate to keep more dominos from falling, this move just slows it down a bit. Seems like schwab is in trouble lol.
 
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casa_mugrienta

Duke status
Apr 13, 2008
43,663
18,165
113
Petak Island
Yes.
Except I have massive amounts of spite and class antagonism, not jealousy.
fook em
Can you say PlumpJack?


Pretty crazy to think the governor was on the horn to DC begging for a bailout of a bank he's intimately connected with.
 

Bob Dobbalina

Miki Dora status
Feb 23, 2016
4,340
4,751
113

Sharkbiscuit

Duke status
Aug 6, 2003
26,672
19,623
113
Jacksonville Beach
Did the bank's executives get phatty bonuses a la 2008 confirmed, or did Grampa Gubmint just go above/beyond $250k deposit insurance?

I was under the impression the C-suite, investors, and bond holders got it pushed in dry?
 

r32

Administrator
Staff member
Apr 1, 2005
18,109
9,797
113
Cambria
Did the bank's executives get phatty bonuses a la 2008 confirmed, or did Grampa Gubmint just go above/beyond $250k deposit insurance?

I was under the impression the C-suite, investors, and bond holders got it pushed in dry?
Last couple weeks, top three dumped their stocks

1678829898788.png

But wait, there's' more.

In last 2 years, CEO dumped about $30m in stocks and other execs sold a combined $54m in stocks during same time period.

.
 

PRCD

Tom Curren status
Feb 25, 2020
12,799
8,821
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Fair point, but I read and enjoy the Viking precisely BECAUSE i found Metalocalypse so entertaining. They's like peas n carrots

If that show never existed, it's very likely @Northern_Shores would never have existed either
I like Northern Shores.
Ok. No more dollar, inflation or Reddit macroeconomics.

Got any hot stonkers?

I did throw in on the bank idea of @r32 :/ Coulda made some good money off of those :) I spent the day sorting out the portfolio after the last few days carnage. Had to throw out a bunch to keep the leeches at the online broker from selling my sh!t by force. Then buy in again today.
you sound poor. Good thing you live in a country with a good social safety net.
 
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casa_mugrienta

Duke status
Apr 13, 2008
43,663
18,165
113
Petak Island
Just curious - all of you that think the Fed is going to keep hiking - why do you believe this knowing that the Fed will just be causing more bank losses by doing so thus creating additional problems?

Fed hikes rates -> more banks losses -> banks come to Fed for cash -> Fed gives cash to banks = more inflation

This as BTFP is basically QE.

@vanrysss
 

Sharkbiscuit

Duke status
Aug 6, 2003
26,672
19,623
113
Jacksonville Beach
Just curious - all of you that think the Fed is going to keep hiking - why do you believe this knowing that the Fed will just be causing more bank losses by doing so thus creating additional problems?

Fed hikes rates -> more banks losses -> banks come to Fed for cash -> Fed gives cash to banks = more inflation

This as BTFP is basically QE.

@vanrysss
1. Jerome Powell said so
2. It sounds like it will disappoint you more than not hiking
3. You argued against it

Just curious - all of you who said they wanted to place bets that the Fed wouldn't keep hiking. Why did you geld yourself, join an emo band named Moody's Cuts, and duck the responses to the wager challenge like a punkass bitch?
 

brukuns

Kelly Slater status
Mar 5, 2014
9,953
4,797
113
Sao Paulo/Brazil
Too much happened too quick. Before last Friday the market was betting on a 50bps hike because of what uncle Jerome said... after the shitshow over the weekend everyone is betting there will be no hike at all. I personally think they will go for a 25bps but would be much more surprised by a 50bps hike than no hike at all.