Lmst

New paper from #Yale and the #FederalReserve blames the 2023 banking crisis on (you guessed it) #crypto and Nerd Reich #VCs.

> "A clearer commonality between the six banks [that failed], the paper argues, is their exposure to risky depositor bases that other banks shied away from: #crypto firms and [tech] venture capitalists."

* American Banker: https://www.americanbanker.com/news/new-paper-hangs-march-2023-failures-on-business-model-risks
* Paper: https://www.chicagofed.org/publications/working-papers/2025/2025-04

#SiliconValleyCalif #SVB #SBNY #SignatureBank #FirstRepublic #a16z #Broligarchs #NerdReich #uspol #banking #finreg #Silvergate

After the break, the People call #GaryFarro to the stand as the 3rd #witness.

#Farro was a banker at #FirstRepublic when #MichaelCohen was seeking to arrange the $130k #HushMoney payment to #StormyDaniels. Cohen, seeking the money, was contacted by Farro's asst.

Rebecca #Mangold will question Farro for prosecution. She’s been on the team several yrs, & typically sits w/Chris #Conroy, another prosecutor, behind the main table.

#criminal #law #Trump #TrumpTrial #ElectionInterference

#GreatDepression2024-2:
@federalreserve losses=#USD~100b+ & counting!
@FDICgov liabilities=#USD~15b+ & counting!
Given @ubs' less-than-stellar numbers post-#CreditSuisse, what are the prospects of:-
@Hsbc (post-#SVB)
@flagstar (post-#SignatureBank)
@JPMorgan (post-#FirstRepublic)

@guacamayan
@Atticus1956

(1/2)

All I am saying is that if two small bank collapses (#SVB, #FirstRepublic, (1)) and a bigger one averted (#CreditSuisse (2)) on another continent can cause a ripple effect in the international banking system, the impact of a #SovereignDebt default by the world's leading economy would probably be comparable to the impact of a #meteor.(3)

Lawmakers don't...

3 water droplets falling into a water surface perpendicucalarly.

Source:
https://www.ey.com/en_in/purpose/how-the-question-that-you-ask-can-be-the-drop-that-starts-the-ripple

Meteorite falls into the ocean

Source:
#NASA

Execs From Failed Banks Testify Before Senate https://politicaliq.com/2023/05/16/execs-from-failed-banks-testify-before-senate/ #SiliconValleyBank #FirstRepublic #Signature #bankfailures #BankCollapse #CEOs #ExecutivePay #StockMarket #politicaliq #news #politics

DIARIO DELLA CRISI | Il panico finanziario da contagio digitale – di Christian Marazzi https://effimera.org/diario-della-crisi-il-panico-finanziario-da-contagio-digitale-di-christian-marazzi/ #crisidasovrapproduzionedigitale #accumulazionecapitalistica #politicamonetaria #SiliconValleyBank #Diariodellacrisi #ChristianMarazzi #diariodellacrisi #digitalizzazione #sovrapproduzione #tassid'interesse #tassidiinteresse #crisipandemica #debitopubblico #crisibancarie #FirstRepublic #liberomercato

-
It's a Wonderful Life

Bank Run

#svb #FirstRepublic #WesternAllianceBancorp #JPMorgan #GoldmanSachs #FDIC #Fed #corruption #confidence #BeenThere #DoneThat
#revolution

Though First Republic sold
No outflow from Western Alliance
Peace in banking world

#firstrepublic #westernalliance #banking #jpmorganchase #haiku #poetry

https://www.reuters.com/markets/us/western-alliance-says-no-unusual-deposit-outflows-after-first-republic-sale-2023-05-04/

Banks hit hard by fall
of First Republic's demise
Investors in shock

#banks #firstrepublic #investment #usmarkets #haiku #poetry

http://www.bbc.co.uk/news/business-65461930

Funny how "second biggest bank failure in US history" is a buried headline, as if it's just some technical detail only business insiders would be interested in. Nothing to see here, folks! Everything's going great!

#FirstRepublic #bank #economy

U.S. regional banks
Plunge as First Republic dies
Investors grow concerned

#regionalbanks #firstrepublic #financialhealth #investorconcern #haiku #poetry

https://www.reuters.com/business/finance/us-regional-bank-stocks-fall-second-day-first-republic-failure-weighs-2023-05-02/

3 failed US #banks had one thing in common: #KPMG - Big Four auditor’s work for #SVB - #Signature and #FirstRepublic comes under scrutiny in aftermath of their collapses, chart @FT https://cutt.ly/I5BxmzK

Oh dear... the FT points out this morning that one thing clearly links the three US banks that recently failed:

#SiliconValleyBank, #Signature & #FirstRepublic were all audited by #KPMG... the suspicion is growing that actually they didn't understand the #banking sector as well as they claimed (KPMG, that is).

It won't be he first time one of the #BigFour have oversold their expertise, now will it!

And the final deal included the $50bn line of credit for #JPMorgan as well as a loss-sharing agreement with #FDIC - What’s more, #FirstRepublic ’s failure and sale to #JPMorgan will result in a loss of $13bn to FDIC.

The difference b/w #FirstRepublic and other recent #bank failures, chart @FT https://cutt.ly/15ZVZ5D

#JPMorgan bought #FirstRepublic on Monday - #FDIC said earlier on Monday the resolution involved a "highly competitive bidding process," and was the least costly alternative for its #deposit insurance fund, chart @ReutersBiz https://cutt.ly/f5Xo7zP