The Morning Report

The Morning Report — 3/13/23

Good morning, kids. With everything going on in the world, whoever had a nationwide run on the banks on their scorecard for today, you just won a 1978 Chrysler Cordoba! Go pick up the keys in Morty's office.

Silicon Valley venture capitalists are screaming for a bail out in response to the recent sudden collapse of Silicon Valley Bank — the second-largest bank failure in history, behind the collapse of Washington Mutual at the height of the 2008 financial crisis.
“YOU SHOULD BE ABSOLUTELY TERRIFIED RIGHT NOW — THAT IS THE PROPER REACTION TO A BANK RUN & CONTAGION @POTUS & @SecYellen MUST GET ON TV TOMORROW AND GUARANTEE ALL DEPOSITS UP TO $10M OR THIS WILL SPIRAL INTO CHAOS,” entrepreneur Jason Calacanis exclaimed.
Entrepreneur Joe Lonsdale insisted that he is “opposed to bail outs,” but nonetheless flirted with the idea of one for the Silicon Valley Bank, tweeting, “Am curious if the innovation world is the only part of our economy that doesn’t deserve a depositor bailout?”
“And can’t help but ask how many equivalent aid packages to Ukraine (0.5 of them?) it takes to resolve the crisis impacting thousands of promising US technology companies,” he added.

I read that first paragraph and honestly, I'm just numb at this point. I echo the sentiments about bailouts but this guy is right over the target about Ukraine. How many hundreds of billions have we dumped in that steaming sewer of graft, grift and Burisma? Meanwhile, Janet Yellen, who is the Mayor Pete of Tim Geithners had this to say:

“Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out,” Yellen told Brennan when asked whether the U.S. had ruled out a bailout."“And the reforms that have been put in place means that we’re not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs. . .”
. . . Fox Business Network senior correspondent Charles Gasparino reported depositors would initially receive 30 to 50% of their money on Monday, and “most of the rest” in time, citing sources familiar with the matter.
The implosion of SVB would mark the largest bank failure since Washington Mutual collapsed in late 2008, according to Axios.
With regard to potential failures at other banks, Yellen argued that one bank’s troubles don’t necessarily mean similar problems for another. She said “supervision and regulation” will help prevent “contagion.”

"Contagion." There's a word that I do not want to hear, but only marginally less so than the phrase "Let me be clear." Hey, I'm no Milton Friedman but banks just don't collapse. Perhaps it's malfeasance and criminality on the part of the executives, which given the fact that banks are arguably the most regulated industry in the nation, that alone might not be the cause. If we go back to 2008, the housing market collapsed thanks to the government mandate of banks having to give loans for poor people to buy homes that they could never afford to pay back. And so the banks came up with the mortgage-backed security Ponzi scheme, and the rest is history. Ironically, here we are again discussing yet another disaster with its root causes in government malfeasance, incompetence and more than a mere soupçon of cronyism to boot. Or Buttigieg as the case may be.

When the story of why Silicon Valley Bank was taken over by the FDIC is written, the role played by policies that sacrificed fiduciary responsibility for wokeness should be examined.
Home Depot co-founder Bernie Marcus is hardly a right-wing nut or a religious fanatic. He’s a hard-headed businessman who’s disgusted with the Biden [junta's] emphasis in the financial sector on DEI.
“These banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns,” Marcus said. “Instead of protecting the shareholders and their employees, they are more concerned about the social policies. And I think it’s probably a badly run bank.”
While SVB was circling the drain, Jay Ersapah, the boss of Financial Risk Management at SVB’s UK branch, launched woke initiatives, including the company’s first month-long Pride campaign and a new blog emphasizing mental health awareness for LGBTQ+ youth. “As a queer person of color and a first-generation immigrant from a working-class background, there were not many role models for me to ‘see’ growing up,” said Ersapah.

Her efforts as the company’s European LGBTQIA+ Employee Resource Group co-chair earned her a spot on SVB’s “outstanding LGBT+ Role Model Lists 2022,” a list shared in a company post just four months before the bank was shut down by federal authorities over liquidity fears.
In addition to instituting SVB’s first “safe space catch-up” — which encouraged employees to share their coming out stories — and serving on LGBTQ+ panels around the world, Ersapah also spent time over the last year serving as a director for Diversity Role Models and volunteering as a mentor for Migrant Leaders.
The bank was abruptly shut down after it revealed that it had taken a $1.8 billion loss from a $21 billion sale of its bond holdings. When the company was unable to raise enough cash, the federal government closed its doors.
Bernie Marcus felt sorry for depositors who lost almost everything. “They’ve been there for a lot of years. It’s pathetic that so many people lost money that won’t get it back.”
Meanwhile, for eight months, SVB did not have a chief financial risk officer. From April 2022, when Laura Izurieta left the job, to January 2023, when Kim Olson was hired, the company had no one whose ultimate responsibility was to gauge risk.
But it’s the woke policies, epitomized by Ersapah’s preoccupation with her image as an LGBTQ crusader, that drew a lot of criticism.

Speaking of a run on the banks, funny, how the usual suspects are going apeshit over the prospect of SCOTUS rejecting the near trillion-dollar youth vote-buying scheme of student loan forgiveness. But I digress.

If you think SVB is a one-off, all you have to do is look at Disney, Coca Cola, Nike, Apple, and hundreds of other companies large and small, not to mention our government. If they're not itching to hire full-on Marxists like Saule Omarova, or Gigi Sohn or Julie Su, who are completely unqualified due to their ideology, they hire the completely unqualified based on minority status. During his term as mayor of South Bend, IN, Peter-Puffer Buttigieg took a relatively stable, if not mediocre town and turned it into a crime-ridden, bankrupt shit-hole. But being a militant homosexual and the son of a Marxist made him eminently qualified to be the Secretary of Transportation!

And I give you this "eagle" who has the aerodynamics of a brick flying under the radar, puns all intended:

“Mr. Washington, can you quickly tell me what kind of airspace requires an ADS-B transponder?” said Senator Ted Budd in a March 1 hearing with Phillip Washington, Joe Biden’s pick to head the Federal Aviation Administration (FAA).
“Not sure I can answer that question right now,” said Washington. Budd said the answer was a “pretty important part” but quickly moved on.
“What are the six types of special-use airspace that protect this national security that appear on FAA charts?”
“Sorry senator,” Washington said. “I cannot answer that question.” Budd duly advanced another.
“What are the operational limitations of a pilot flying under basic med?”
“Senator I’m not a pilot so . . .”
“Obviously you’d oversee the Federal Aviation Administration,” countered Budd, “so any idea what any of those restrictions are under basic med?”
“Well, some of the restrictions, I think, would be high blood pressure.”
As Senator Budd explained, the restrictions had to do with the number of passengers per airplane, weight, altitude, and speed. So “it doesn’t have anything to do with blood pressure.”

. . . For all but the willfully blind, the Biden pick is unqualified to head the FAA. So the people have a right to wonder how he got tapped for the job.
In 2020, “Washington led Biden’s transition team for the Transportation Department,” notes National Public Radio. The Delaware Democrat first nominated Washington in early July, 2022, “but he failed to get a hearing even though Democrats controlled the Senate.” Biden re-nominated Washington in January, so it’s pretty clear the FAA was a reward for service to Biden. . .
. . . Senator Ted Cruz cited “serious concerns regarding outstanding allegations of misconduct going back to Mr. Washington’s time at LA Metro. He was named in multiple search warrants in an ongoing criminal public corruption investigation and was the subject of multiple whistleblower complaints.” Washington was also named in a discrimination and retaliation lawsuit filed by a former Denver airport employee.
As Cruz noted, the nominee’s failure to notify the committee of that lawsuit was one of “dozens of omissions” in his questionnaire. In Denver, Washington had stressed “sociocultural merits” and on March 1, despite ample time to prepare, the nominee failed to answer basic questions about airport safety. For Biden, Washington was fully qualified, and in a sense the Delaware Democrat is right.
At all levels the various boards and commissions serve as soft landing spots for failed politicians, party hacks and bureaucrats. Witness the pathetic Pete Buttigieg, on “paternity leave” during a supply-chain crisis, and ignoring a toxic train derailment in Ohio. In similar style, Biden labor secretary nominee Julie Su enabled billions in unemployment fraud and supports the elimination of independent freelance workers.

It's bad enough that idlers, hacks, cronies and other stooges become heads of bureaucracies, ambassadors and other positions in government. But when, either by choice or compulsion start occupying positions in C-suites, or are accepted to business schools, engineering schools and medical schools and worse, "earn" their degrees (that's going to be one big-ass bell curve) and are let loose into the world, well, just look at the collapse of SVB as a possible harbinger.

Already, Joey Sponge-Brain Shits-Pants has prioritized ESG for the financial sector despite its disastrous effects on the bottom line and investor portfolios.

Wayne Allyn Root thinks with our military so degraded by the imposition of Marxist "woke" indoctrination that an EMP attack by the Chi-Coms or Russia is imminent.

Why, when we're slitting our own throats, would they do that? At the rate we're going, they can waltz right in and take over without firing a shot. Hell, most of the government and far too many of our allegedly fellow citizens would greet them with flowers and candy. Meh, it'll be the Iranians who light off an EMP, thanks to Biden and the geniuses at Foggy Bottom itching to let them nuke up, who think America and Israel must be counterbalanced by the mullahs for stability, or something.

So many other good stories and links and I'm forced to deal with a lousy run on the banks.

ABOVE THE FOLD, BREAKING, NOTEWORTHY

Naomi Wolf: "It’s tempting to sweep this confrontation with my own gullibility under the rug — to 'move on' without ever acknowledging that I was duped, and that as a result I made mistakes in judgement, and that these mistakes, multiplied by the tens of thousands and millions on the part of people just like me, hurt millions of other people like you all, in existential ways. But that erasure of personal and public history would be wrong."
Dear Conservatives: I'm Sorry I Believed So Many Media Lies
Daniel Greenfield: "Two of the three branches of government are in the hands of the mentally incapable."
Who’s Running America?
Victor Davis Hanson: "Joe Biden’s political utility and near senility serve as exemptions for his often sexist, racist, and creepy riffs."
The March Madness of the So-Called Quote-Unquote "president"
Roger Kimball: "George Santayana’s interest in philosophy was for the reality it revealed—and for the relief that it promised."
Recalling Santayana’s Genteel Tradition
"Science fiction becomes dystopian fact."
Study Suggests AI Can Literally Read Your Mind, and With Extreme Accuracy
"Grifters and idiots with a time horizon calculated in quarterly profits instead of years, much less decades or centuries, now lead the country."
Arsenal of Dumb-ocracy

CIVIL WAR 2.0: J-6 FBI FALSE FLAG "RIOT" & AFTERMATH, LEFTIST PERSECUTIONS, DEMOCRAT PUTSCH, AMERICAN DISSOLUTION

“Suddenly I heard screaming, had books thrown at me and I was soaking wet”
Conservative Female Authors Attacked by Protesters at Book Launch Event.

* * * * *
Robert Spencer: "If he does become the nominee, however, it’s virtually certain that he would just have been chosen to play the role of the Washington Generals facing the Democrats’ Harlem Globetrotters. From the sound of his recent statements, he would play this role eagerly."
Even as Jan. 6 Narrative Implodes, Pence Still Blames Bad Orange Man for Endangering His Life
"In an age of lies, telling the truth is a revolutionary act. Tucker Carlson’s release of January 6 video is a big step in the direction of undermining trust in an establishment that deserves little."
So Much for Transparency
"What the Northern and coastal elite feel toward the South and West is a level of contempt that amounts to racism."
Regional Racism and the Democrats Who Love It
Clarice Feldman: "Democrat lies about the GOP go back a long, long way."
This Great Stage of Fools
THE ECONOMY, STUPID
“YOU SHOULD BE ABSOLUTELY TERRIFIED RIGHT NOW — THAT IS THE PROPER REACTION TO A BANK RUN & CONTAGION @POTUS & @SecYellen MUST GET ON TV TOMORROW AND GUARANTEE ALL DEPOSITS UP TO $10M OR THIS WILL SPIRAL INTO CHAOS,” entrepreneur Jason Calacanis exclaimed.
Silicon Valley Venture Capitalists Scream for a Bail Out in Reaction to Bank Collapse
"One hundred venture capital and investing firms have signed a statement supporting Silicon Valley Bank, and calls for aid to avoid a possible 'extinction-level event' for tech companies."
Hundreds of Startups Face Massive Cash Crunch in Wake of Silicon Valley Bank Collapse
Treasury Secretary Janet Yellen approved measures to resolve the failure of Silicon Valley Bank “in a manner that fully protects all depositors,” the Treasury said Sunday in a joint statement with the Fed and FDIC.
Fed, Treasury, and FDIC Announce Actions to Backstop Banks After Silicon Valley Meltdown
“I think the voice here is our Treasury Secretary who is our lead and working with regulators. That’s the appropriate person we should listen to here and she’s tracking this the most closely,” Young said. “What I will say is after the financial crisis, the reforms put in place have given regulators more tools. And our system is more resilient and the foundation stronger because of it.”
Biden Official Calls Banking System ‘Resilient’ Amid SVP Collapse
"Obviously, there were many factors that led to SVB’s collapse, woke policies being only one of them. Unfortunately, it’s going to take a lot more than one bank going under to turn the tide against DEI in corporate America."
Did Woke Policies Help Lead to the Collapse of Silicon Valley Bank?
What will happen to the millions of consumers who aren’t too big to fail and are now being crushed under debt? And will the Federal government finally allow big politically connected financial institutions that fell short in “husbandry” to totally fail? Or will we continue to subtly train financial institutions to take risks that defy common sense, knowing taxpayers are standing by ready to step in and protect them for the “public good”? It will be interesting to see what the Biden [junta's] next move will be and whether it matches the soak-the-rich rhetoric that has been on display this week.
Interest Rate Hikes May Trigger an Avalanche of Household Debt while Badly Run Bank Collapses Capture the Headlines for Now

* * * * *
"This is no help for debt-ridden Americans. It is a carefully timed and unconscionable political stunt."
Joe Biden's Preposterous Student Loan Bailout
"This budget is arguably the most dishonest one that any president [legitimate or otherwise] has ever offered up."
Biden’s Budget is Tax-and-Spend on Steroids
"Borrowing a few dollars from a bank isn't as easy as it might seem."
Why Bank Small-Credit Loans Aren’t Better Than Payday Loans
FIRST AMENDMENT ISSUES, CENSORSHIP, FAKE NEWS, MEDIA, BIG BROTHER TECH
Miranda Devine: "The very Democrats who won’t shut up about 'MAGA semi-fascists' threatening democracy are defending an emerging dictatorship in which the governing party, the security state and Big Tech come together to censor speech that dissents from the official narrative, whether on the origins of [Chinese] COVID or the efficacy of vaccines and lockdowns, election integrity or the Afghanistan withdrawal, the Ukraine war or climate change, gender ideology or the Hunter Biden laptop."
The Media Ignore Democrats in Congress Stepping on Freedom of Speech
"The three-hour hearing showed that corporate-government collusion goes far deeper than the major platforms in Silicon Valley."
Calling Out Private Censors, Weaponization Committee Signals It Won’t Stop With FBI-Twitter Collusion
"There might not have been many new revelations coming from the subcommittee, but what the public did learn was that the political left is extremely hostile to facts, evidence and the truth. If you didn’t already know that by now, the hearing with Matt Taibbi made it abundantly clear."
Democrats Refuse to Address the Contents of the Twitter Files – Attack the Messengers Instead
"Article is a perfect amalgam of racism and pseudoscience."
LA Times Writer Slammed for Racist Claims that White Drivers are ‘Polluting the Air’ of ‘People of Color’
"Max Boot’s rebrand falls short."
Das Boot
"The secular Washington Post clearly doesn’t understand Catholic theology nor our culture’s imperative need for holiness in a world of hookup culture and moral decadence.
WaPo Confused Why It’s Wrong For Catholic Priests To Use Hookup Apps
"In other words, the FCC cannot grab the regulatory responsibilities of other agencies, especially the Commerce Department, where Congress in recent years has been trying to shift most commercial regulatory authority. Nonetheless, this bill appears to mostly endorse the FCC ‘s power grab."
House subcommittee proposes five bills that would change FCC operations
Christian Toto: "Pool, Five Times August canceled as part of new, repressive reality."
Tim Pool Threatens Suit Against Bandcamp for Unchecked Censorship
Wayne Allyn Root: "All in one week."
5 of the Most Important Stories in the History of America
RED-GREENS, CLIMATE CHANGE HOAX, DEMOCRAT-LEFT WAR ON FOSSIL FUELS, JUNK SCIENCE, LYSENKOISM
Dutch politician Geert Wilders: “The real aim here is to get rid of our farmers for some leftist Nitrogen agenda and make room for non western immigrants.”
Netherlands: 10,000 Farmers Protest Against Climate Change Regulations
Robert Spencer: "Leftists have been using fear as a tool to sell their propaganda for decades. Greta’s deleted tweet ought to serve as a wake-up call for those who still suspect that their doomsday scenarios, which are all designed to force us into accepting poverty and bug-eating while China cements its global economic hegemony, might actually be real."
Greta Thunberg’s 2018 Prediction That World Would End In Five Years Doesn’t Turn Out So Well
"Manufacturers say government climate change initiative would make your washing cycles longer, clothes dirtier."
How Biden's New Washing Machine Regulations Could Ruin Laundry Day
"Alaskans are mystified that Democrat Rep. Mary Peltola, their only member in the U.S. House, voted to return to colonialism. The EPA rule takes away the rights of Native corporations to use their lands for the betterment of their shareholders — the Natives of Alaska who were deeded these lands under the Alaska Native Claims Settlement Act of 1971, which awarded Alaska Native corporations 45.5 million acres of land to create better economic conditions for Alaska’s indigenous people."
Why Did This Red-State Rep Just Vote For Colonialism?
"If you’re reading this piece, most experts agree that you are probably alive. Other experts tell us that sometime in the future you will cease to be alive. In between then and now, do yourself a favor: enjoy life. One of the ways you can enjoy it best is by tuning out the sad, ignorant masters of exploitation and propaganda who dream up ways to try to control your behavior by exploiting your natural tendency to exercise extreme caution when facing fear itself."
Still the Only Thing We Have to Fear
OHIO DERAILMENT, TOXIC CHEMICAL DISASTER
John M. Williams, Sr., M.D.: "The response on the ground after the derailment and the release of toxic chemicals failed the residents in multiple ways."
A Tale of Two Train Wrecks: The East Palestine Disaster Response
AMNESTY, IMMIGRATION, BORDER SECURITY
If we declared a free-fire zone, you'd be amazed how quickly this madness stops.
Hundreds of Migrants Attempt to Storm the Southern Border
“This is one of the worst maritime tragedies that I can think of in California."
At Least 8 Dead After Suspected Smuggling Boats Capsize Near San Diego
"The lawsuit comes after the Vermont Supreme Court ruled against the RNC’s previous lawsuit asking judges to find noncitizen voting unconstitutional. While the court argued the Vermont Constitution did not categorically bar noncitizen residents from voting in municipal elections, it did find that votes with statewide implications would require United States citizenship, an RNC spokeswoman told The Federalist."
RNC, Vermont GOP Sue City Of Winooski For Letting Noncitizens Vote On Spending State Funds
CRIME & PUNISHMENT, NON-DOSTOYEVSKY
"A Los Angeles deputy district attorney was suspended without pay for 'misgendering' a sex offender."
Soft on Crime, Harsh on Pronouns
AMERICA AND THE WORLD IMPRISONED: CHINESE CORONAVIRUS FICTIONS AND FACTS
The [Chinese] Covid Origins Act of 2023, sponsored by Sens. Josh Hawley (R-MO) and Mike Braun (R-IN), passed by a vote of 410 to 0, after clearing the Senate by unanimous consent last week.
Entire US Congress Votes To Declassify [Chinese] COVID-19 Origins Intel
EDUCATION, AND WHAT PASSES FOR IT
"The Democrats will blindly follow the teachers unions into their ideological destruction of historical education."
Virginia Teachers Union Pushes Senate Democrats to End "Anti-Asian" Victims of Communism Day
"[T]he school district worked in tandem with the union to attack her. First the school broad threatened her with a lawsuit, running a show trial against her at a school board meeting. When it realized it would be a mistake to sue her for simply asking for the curriculum, it apparently then arranged for the NEA to step forward and sue her instead."
Today’s blacklisted American: Mother sued by teacher’s union for requesting her child’s kindergarten curriculum
"Tirien Steinbach helped derail a talk by a federal judge. The school says the talk’s organizers should contact her for 'support.'”
Stanford Tells Federalist Society Students To ‘Reach Out’ To Diversity Dean Who Encouraged Disruption of Their Event – and To Shut Up on Twitter
“What first looked like a pandemic blip has turned into a crisis. Nationwide, undergraduate college enrollment dropped 8% from 2019 to 2022.”
Many Students Who Finished High School During the Pandemic Are Skipping College
ABORTION
Robert Spencer: "When sitting on a North Vietnamese anti-aircraft gun just isn't enough."
Hanoi Jane Calls for the Murder of Pro-Lifers
"Can they actually do this?"
New York Tries to Force Mail-Order Abortions on the Rest of the Country
"The amendment would have sanctioned the killing of the unborn in Virginia’s Constitution and legalized abortion up to and during birth."
VA House Stops Democrats From Putting a Right to Partial-Birth Abortion in the State Constitution
OFFICIAL DEMOCRAT PARTY/LEFTIST-ENDORSED ANTI-SEMITISM, ANTI-CHRISTIANITY
"The FBI’s 2021 hate crime report did not include statistics from major cities with high Jewish populations such as New York City, Miami and Los Angeles, leading to heavy criticism from Jewish organizations." (gee, what do they all have in common? - jjs)
Light Sentences For Anti-Semitic Attacks Set A Dangerous Precedent, Experts Warn
"They weren’t proselytizing; they were merely the wrong sort of Christians."
Public School Board Axes Christian Student Teachers
BIDEN CRIME FAMILY REVELATIONS
"Is this the moment we’ve been waiting for? Will the Biden crime family and their dealings with our number one enemy, the CCP, come crashing down because Hunter left a laptop in a repair shop?" (no reasonable prosecutor, etc. etc. - jjs)
Rep. Comer Says He Has the Goods on Hunter Biden and His Commie $$$
POLITICS
"If DeSantis launches a formal bid for the White House, Iowa will be one of the most important states for him to win. However, it’ll be a monumental challenge as voters have — for years — made it clear that Iowa is largely MAGA country."
Trump Touts Past Success With America's Farmers Ahead of Iowa Visit
"Trump has galvanized and, dare I say, weaponized these American kulaks against the entire rotten apparatus. He has given the gift of true class consciousness to the common American man and woman."
Donald Trump Reemerges as the Republican Alpha at CPAC
"The contrast between Trump and the worn-out ideas of his media-pandering rivals."
Trump KOs GOP Globalists
"The problem of Gavin Newsom."
Native Son
"Ditching Harris will be more politically expensive than keeping her around."
Top Democrats Call on Party Members to Stop Denigrating Veep Throat Harris
". . . Sanders says Arkansas as a whole can be the 'blueprint' for what conservative states could do."
How Sarah Sanders is Putting Arkansas on the Map

* * * * *
THE UKRAINIAN "FRONT"
"Giving Ukraine a blank check, as some wish us to do, is the very opposite of a prudent U.S. foreign policy."
Russo-Ukrainian Outcomes for America
"Alexander Vindman emerges from his altruism cocoon to give us all a lesson in profitable patriotism."
From Prime Time Witness to War Profiteer
FOREIGN AFFAIRS, INTERNATIONAL
"South Africa is in the midst of a political crisis, and energy shortages are at the heart of it. You'll be forgiven for not having heard—western media has preferred to focus on the war in Ukraine and everything else has fallen through the cracks."
South Africa: State of Collapse
"The Nobel winner and three others were arrested in 2021 for financially supporting protests and allegedly smuggling money. The state-sponsored news agency Belta confirmed that the court had handed down severe jail time to all four of the men, including a 10-year sentence for Bialiatski. He has since denied all the charges brought against him, claiming that the action taken against him was politically motivated, according to Reuters."
Belarus Imprisons Nobel Peace Prize Winner for 10 Years Amid Condemnations from EU, UZ
However, Jinping does not appear to have an interest only in military weaponry, but to exercise self-reliance in the fields of science and technology, including optimizing capabilities in emergency fields, improve industrial supply chains, and produce national reserves "more capable of safeguarding national security."
CCP Declares Intention to "Elevate Armed Forces" During Increasing International Conflicts
"Is Israel to be condemned because it is stronger than the Palestinians?"
Introducing Elly Schlein: Her Giddy Censure Doth Us Most Displease
"Constitutional order requires compromise."
A Better Way to Reform Israel’s Supreme Court
"The French experience complicates the prospects of family policy–driven revival."
Liberte, Egalite, Natalite—or Not
Daniel Greenfield: "What the reaction to a rare Jewish riot in Israel says about Jewish liberals."
Hollow Sanctimony Over Hawara

* * * * *
"They are absolutely authentic—otherwise they would not inspire moral panic among their elders."
‘Menace to Society’: Eastern European Hipster Subculture Pushes Back
WE-ALL-SLAM-FOR-I-SLAM
"Tales from the Vienna ’hoods."
On Teaching Muslim Kids in Austria
DOMESTIC AFFAIRS, THE COURTS, WASTE/FRAUD/ABUSE
"Nobody is taking responsibility."
Wisconsin Indian Hostage Crisis Teeters On Violence Because Biden, Tony Evers Do Nothing
"New York City needs more housing, but not more public-housing projects."
Banishing Le Corbusier’s Ghost
Lloyd Billingsley: "Biden’s FAA pick Phil Washington knows nothing about aviation safety."
FAAtal Attraction
ACTUAL SCIENCE, TECHNOLOGY
"The flight’s planned distance was to go 1,410 feet to the southwest and 'image science targets along the way.'”
Ingenuity completes 47th flight, scouting ahead of Perseverance
"Bringing the Soyuz home in June would get it home in about three and a half months, suggesting the Russians are no longer confident their Soyuz and Progress spacecraft can withstand six months in space."
Russia considering bringing Soyuz launched on February 23rd home earlier
FEMINAZISM, TRANSGENDER PSYCHOSIS, HOMOSEXUALIZATION, WAR ON MASCULINITY/NORMALCY
"The atrocity isn't over yet, but it's in its death throes now. England, Sweden, Finland, Norway, and some US states are leading the way to ending what is arguably the greatest medical crime ever committed. One can only hope that this time we have learnt our lesson and never again allow such horrors to occur."
The Looming Catastrophe of Transition Regret and the Lessons of Psychiatry's Madness
"West Virginia leads the nation in the amount of transgender teens they have per capita, according to a 2017 study by The Williams Institute."
WV GOP Caves, Agrees To ‘Mental Health’ Exception In Sex Change Treatment Ban For Minors
"It’s no wonder girls and young women are depressed and thinking of suicide, when even educated and successful women support policies that keep telling them that they are not good enough."
Erasing Women
"They may indeed be coming for your kids. But in the end, they are coming for reality."
Transgenderism Must Be Eradicated
CULTURE WARS, NATIONAL SUICIDE
"The J6 Prison Choir is composed of prisoners incarcerated for the involvement in the January 6 Capitol riot."
January 6 Prison Choir Has the Number One Song in the Country
"A threat to nobody." (second look at Iranian rooftop flying lessons? - jjs)
Oscar-Winning Everything Everywhere All at Once Director Defends Drag Queens and Drag Children
"I hope it tanks at the Oscars." (it kicked ass where it counts: at the box office - jjs)
MSNBC Editor Slams Pro-Military Top Gun: Maverick as "Poisonous"
Thad McCotter: "It is intellectually dishonest to oppose fascism but not to equally oppose communism."
And the Oscar for Hypocrisy Goes to . . .

NOTE: The opinions expressed in the links may or may not reflect my own. I include them because of their relevance to the discussion of a particular issue.

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Posted by: J.J. Sefton at 07:45 AM

Comments

(Jump to bottom of comments)

1 Still watching, "Biden, Jill and Her
Minor Attracted Person Gay Husband"
... AKA B.J. and the Bear. Will it
be cancelled before or after the end
of its first season, OR will it be
renewed for our collectivist viewing
pleasure?

Posted by: Marooned at March 13, 2023 07:43 AM (kt8QE)

2 Not first.

Posted by: Mister Scott (Formerly GWS) at March 13, 2023 07:44 AM (uNylN)

3 Good morning JJ &horde

Posted by: Skip at March 13, 2023 07:45 AM (C+qwo)

4 Good morning and thanks, JJ. Also -- Outstanding job on the CJN podcast.

Posted by: Doof at March 13, 2023 07:45 AM (6uyrZ)

5
g'mornin' again, 'rons

Posted by: AltonJackson at March 13, 2023 07:45 AM (ENBF0)

6 I used to work on failing banks as part of my job.

SVB isn’t an ordinary bank. 97% of its deposits are not FDIC-insured, which made it highly vulnerable to a bank run. It also means there’s little franchise value from having low-cost stable deposits and related consumer relationships.

Almost always, the FDIC can sell a failing bank over a weekend and use what the buyer pays for the franchise value to cover uninsured deposits. That may be a challenge here. Too many uninsured deposits, and too little franchise value.

SVB took in a huge amount of deposits lately and invested them in buying MBS and treasuries, which have little credit risk. But the effect was to increase the average duration of SVB’s investment portfolio from four years to over six, while its deposit base was relatively short-term. This made SVB vulnerable to rate increases which is the source of its current predicament. Allowing this to build up was incredibly dumb on the part of SVB management and its regulators. Note that the recent rate increases by the Fed weren’t large in the historical scheme of things and should have been a perceived risk.

Posted by: Ignoramus at March 13, 2023 07:45 AM (RqMSv)

7 Nood duties performed

Posted by: Doof at March 13, 2023 07:45 AM (6uyrZ)

8 Seriously the government worked over a weekend to just help out rich tech investors. Contrast that with 3 weeks before the feds did anything to even pretend to help out a community dealing with a massive chemical spill.

Posted by: Tyler Durden at March 13, 2023 07:46 AM (SrPpJ)

9 Two large banks in less than two weeks leads me to believe that something is inherently wrong with the system. A swing of 4% in the prime rate should not be causing this unless the banks are way out on a limb.

Posted by: Mister Scott (Formerly GWS) at March 13, 2023 07:46 AM (uNylN)

10 hiya

Posted by: JT at March 13, 2023 07:46 AM (T4tVD)

11 And another one bites the dust...

Nick Timiraos @NickTimiraos · 13h
NEW:
*Signature Bank has been closed

*All depositors of Silicon Valley Bank and Signature Bank will be fully protected

*Shareholders and certain unsecured debtholders will not be protected

*New Fed 13(3) facility announced with $25 billion from ESF to backstop bank deposits

We should have known!
kanekoa.substack.com @KanekoaTheGreat · 12h
2022: Jim Cramer recommends Signature Bank.

2023: Signature Bank shuts down.

How does he do it?

Posted by: andycanuck (Vwz3I) at March 13, 2023 07:46 AM (Vwz3I)

12 Moronin, Hourde!

Posted by: Hans O'Lo at March 13, 2023 07:46 AM (u7pQw)

13 Why do I suspect every bank failure has its broken investors and its new millionaires?

Posted by: Skip at March 13, 2023 07:47 AM (C+qwo)

14 Managing “duration” and interest rate risk is basic bank management 1.01. There's nothing systemic about this fuck-up. Just bad management.

What now? Shareholders will get zero. It’ll be hard for the FDIC to pull off a deal that covers uninsured deposits 100%. The VC community and their start-ups would take a big hit without a bailout, as many start-ups would otherwise be immediately cash starved.

That's who's getting bailed out

SVB should be seen as a one-off and shouldn’t lead to runs at other banks, but people can act like a dumb herd. We invented FDIC insurance to prevent exactly this.

Posted by: Ignoramus at March 13, 2023 07:48 AM (RqMSv)

15 Not exactly a novel thought in these parts, but …
Sure do miss my Mean Tweets ™ and asskicking economy about now.

Posted by: Republic Theatre, brought to you by Pfizer! at March 13, 2023 07:48 AM (V4vPN)

16 A mostly Fed insured run on banks.

Like a mostly peaceful riot.

Posted by: Martini Farmer at March 13, 2023 07:48 AM (Q4IgG)

17 Republicans on the House Oversight Committee have been working with four witnesses with close ties to the Bidens, who have provided documents and other evidence tying the Bidens to the Chinese Communist Party.

Posted by: Tyler Durden at March 13, 2023 07:49 AM (SrPpJ)

18 Good morning horde! Fuck DST!

Posted by: I used to have a different nic at March 13, 2023 07:49 AM (GYIa4)

19 Regarding banks failing, regulators required banks to hold safer investments with low fixed rate interest income coming in. Which is fine during times of free money. Now that the Fed has hiked the interest rate, banks are now paying 4.5% on accounts while they are still holding those low interest rate investments regulators required them to hold. It is a revenue issue for banks. They are paying more out than they are earning. At least that is my take on it. I did sleep at a Holiday Inn Express last night.

Posted by: hubcap at March 13, 2023 07:49 AM (ZxpLT)

20 "Dear Conservatives: I'm Sorry I Believed So Many Media Lies"

We are too. Now GFY.

Posted by: fd at March 13, 2023 07:50 AM (iayUP)

21 BOOM! Oversight Chair James Comer: “IT’S AS BAD AS WE THOUGHT – We Have In Hand Documents That Show Biden Family Was Getting Money from Chinese Communist Party”

Posted by: Tyler Durden at March 13, 2023 07:51 AM (SrPpJ)

22 Meanwhile, for eight months, SVB did not have a chief financial risk officer. From April 2022, when Laura Izurieta left the job, to January 2023, when Kim Olson was hired
-----

The place that fired me Jan '21 over the Jab was increasingly Woke. It took them 4 months to hire me in 2016. By 2021, they would drag out the process 6 months. We lost two great candidates for a critical management position, because they screwed around so long.

Everything takes a backseat to fruitcakery.

Posted by: insurgens ad opus at March 13, 2023 07:51 AM (b306O)

23 Meanwhile, Janet Yellen, who is the Mayor Pete of Tim Geithners had this to say:

Janey Yellen is light years away from just being incompetent, she is criminally and malevolently incompetent.

The Scriptures tell us in "time their foot shall slip" regarding these self-anointed Philosopher Kings, their feet are slipping and they are taking us all down with them.

Posted by: Reuben Hick at March 13, 2023 07:51 AM (YXHzG)

24 What do you think of this [long] tweet, Ignoramus? [More at link.] https://tinyurl.com/w2fy5ewr

Jim Bianco biancoresearch.eth @biancoresearch
Lots of really bad takes about SVB. Let’s try and correct

This is not a solvency crisis like 2008. Bad loans or poor investments were not made. Money was not lost. So, everyone is going to get their money back. (And please no takes about no interest rate hedging. Asset/liability mismatches are how banking works.)

Instead this is an old fashion 1930s liquidity crisis. Too many depositors demanded cash at once (as in right now) and SVB (and SI) could not convert loans and securities (and crypto) to cash that quickly. So, everyone is getting their money back from SVB (and SI), just not at 8AM Monday. And, yes this is a big problem as this is working capital for a lot of companies. They have payrolls to meet and vendors to pay next week. And if they don’t pay bills and employees, they in turn don’t pay their bills and this can quickly cascade into a major economic problem.

Posted by: andycanuck (Vwz3I) at March 13, 2023 07:52 AM (Vwz3I)

25 I remember Washington Mutual commercials.

Mutual of Omaha too.

Posted by: Aetius451AD Work Laptop at March 13, 2023 07:52 AM (zZu0s)

26 20 "Dear Conservatives: I'm Sorry I Believed So Many Media Lies"

We are too. Now GFY.
Posted by: fd at March 13, 2023 07:50 AM (iayUP)

Is that your response to someone like David Horowitz as well? Or Taibbi? RFK Jr. etc.?

Posted by: J.J. Sefton at March 13, 2023 07:52 AM (x0n13)

27 "We Have In Hand Documents That Show Biden Family Was Getting Money from Chinese Communist Party”

I'd be flabbergasted but I'm fresh out of flabber.

Posted by: fd at March 13, 2023 07:53 AM (iayUP)

28 Silicon Valley Bank
Silvergate Bank
Signature Bank

- what I'm getting from this is don't put your money in banks with names starting with S

Posted by: vmom stabby stabby stabby stabby stabamillion at March 13, 2023 07:53 AM (fUnHJ)

29 "The head of the statue was pure gold, its chest and arms were silver, its belly and thighs were bronze, its legs were iron, and its feet were part iron and part clay. As you watched, a stone was cut out, but not by human hands. It struck the statue on its feet of iron and clay, and crushed them.…"

Posted by: Aetius451AD Work Laptop at March 13, 2023 07:54 AM (zZu0s)

30 Everything's Fine.

Posted by: Bitter Clinger at March 13, 2023 07:54 AM (bdomY)

31 "Is that your response to someone like David Horowitz as well? Or Taibbi? RFK Jr. etc.?
Posted by: J.J. Sefton

Yeah. Anybody gullible enough to fall for the media's BS gets the respect they deserve.

Posted by: fd at March 13, 2023 07:54 AM (iayUP)

32
You take 10,000 tech workers and toss them out on the street, they take their life savings and go home, I would guess about 90% to a state other then California.

Two weeks ago I saw an item that CA state tax revenue was off by 50%. Perfect storm brewing in that state.

Posted by: Divide by Zero at March 13, 2023 07:55 AM (enJYY)

33 Thanks JJ !

Again !

Posted by: JT at March 13, 2023 07:55 AM (T4tVD)

34 The government locked up Bernie Madoff for taking people's money, people who begged him to take their money, who chased him down on his private jet and private yacht to give him their money. But the bank execs and federale regulators who steal each and every day walk free as a bird. A Bank goes tits up, no one should get reimbursed. Teach them a lesson. Ravadem Patel was right!

Never Give Up Your Guns!

Rootin For Putin!

Abolish The FDIC!

Free Buffalo Guy!

More coffee...

Posted by: Hairyback Guy at March 13, 2023 07:55 AM (LAno9)

35 thanks as always, JJ ...

funniest part of all of it is how little I care about any of it ... they are destroying their world; mine is pretty much chugging along okay.

cascading bank failures? LOL, popcorn!

Posted by: sock_rat_eez - we are being gaslighted 24/365 at March 13, 2023 07:56 AM (VohFI)

36 Still on old time?

Posted by: Actually Inside the Beltway at March 13, 2023 07:56 AM (roPuI)

37 ‘Allahu Akbar!’ – Migrant Knifeman Attacks Police

.. now we will never know his motivation

Posted by: SMOD at March 13, 2023 07:57 AM (SrPpJ)

38 Are you the real Tyler Durden?

Posted by: andycanuck (Vwz3I) at March 13, 2023 07:57 AM (Vwz3I)

39 can I just rant here a little?

I do not understand every single person I know - family, friends - following the Oscars and posting all these "oh my heart! oh he cried!" updates?!?!

why. do. they. CARE

why?!?! who freaking cares they act like the people on the teevee are their actual friends

blah whatever I will never get this

Posted by: BlackOrchid at March 13, 2023 07:59 AM (w0NJk)

40 It is lies stacked upon lies all the way down the line on whatever topic you might randomly select. When our “elites” talk, they lie. I just happened to flick by Washington Journal on C-SPAN yesterday morning. They had a segment with a Dr. Schaffner at Vanderbilt University to talk about the 3-year anniversary of the start of the Covid panic. This guy is a Fauxchi clone parroting every single talking point lie of the “elites” about Covid…. Masks, vaccines, social distancing…. Vomit inducing. He had the gall to say that the covid vaccines were developed “without cutting a single corner”…. I almost had a rage stroke

Posted by: LinusVanPelt at March 13, 2023 07:59 AM (iqzch)

41 cascading bank failures? LOL, popcorn!

Until the farmer's can't borrow for this season's plantings, the utilities need to borrow to upgrade failing equipment, insurance rates sky-rocket causing marginal companies and activities to be priced out of business...

The list goes on. Unless you are a total island where all your trades are in barter and you have everything on hand to survive (including sourcing your own energy and water) you are vulnerable.

Posted by: Reuben Hick at March 13, 2023 07:59 AM (YXHzG)

42 There are a few issues with SVB. First, generally speaking the Venture Capital world is viewed favorably. they are the innovators who are creating a new world. As a counterpoint the hedge fund industry is generally viewed as the corrupt domain of mega-billionaires. Almost exactly the opposite is true. While no industry is totally free from political influences, in the hedge fund world where mark to market is the rule, "what you know" matters far more than "who you know".

In the VC world sometimes 'who you know' is all that matters, and SVB ran their business that way. As a result they got an entire clientele who was incapable of managing or even identifying the risks in their business, and who all relied on free money and a growing market to succeed.

This isn't so much a bailout for the banks but for the hapless 'so called geniuses' like Sam Bankman Fried who are darlings of the startup world but don't know half of what they think they do.

The Hedge fund world meanwhile has never seen even a single penny of bailout funds, nor have they ever asked for them.

Posted by: Tom at March 13, 2023 08:00 AM (xUK01)

43 I wonder if Biden can work gun control into a speech on bank runs?

Posted by: Aetius451AD Work Laptop at March 13, 2023 08:01 AM (zZu0s)

44 I wonder if Joey the B will call for a bank holiday? that should help!

the St Paddy's Day Surprise!

Posted by: BlackOrchid at March 13, 2023 08:01 AM (w0NJk)

45 >>"...banks are arguably the most regulated industry in the nation..."
----
Except -- progressive institutions of every kind right now are utterly, entirely unregulated and completely devoid of accountability.

For Prog institutions, it's a free for all. FTX out front should have told ya.

Posted by: Taq, Rickrolled by Jesus at March 13, 2023 08:01 AM (iKBwy)

46 Retardo is going to address the nation about the banks. I'm going to watch the stock futures as he speaks.

Posted by: bill in arkansas, not gonna comply with nuttin, waiting for the 0300 knock on the door at March 13, 2023 08:02 AM (lz5hY)

47
why?!?! who freaking cares they act like the people on the teevee are their actual friends

My late grand-mother-in-law would send sympathy cards to the characters on the daytime soap-operas; and gossip about them at the holiday dining table.

Posted by: Reuben Hick at March 13, 2023 08:02 AM (YXHzG)

48 I wonder if Biden can work gun control into a speech on bank runs?

So who has "White Supremacy" and "Trump" on their Bullshit Bingo Cards?

Posted by: Reuben Hick at March 13, 2023 08:03 AM (YXHzG)

49
I wonder if Biden can work gun control into a speech on bank runs?

Posted by: Aetius451AD Work Laptop at March 13, 2023 08:01 AM

I gots ten quatloos what says "Yes. Yes, he can (& will)"

Posted by: AltonJackson at March 13, 2023 08:04 AM (ENBF0)

50 39 I do not understand every single person I know - family, friends - following the Oscars and posting all these "oh my heart! oh he cried!" updates?!?!

I am fascinated that you know such people. Maybe I am lucky, but I know exactly 0 such people.

Posted by: Republic Theatre, brought to you by Pfizer! at March 13, 2023 08:04 AM (V4vPN)

51 48 I wonder if Biden can work gun control into a speech on bank runs?

ha! I wonder if he can work St Beau into it

Posted by: BlackOrchid at March 13, 2023 08:04 AM (w0NJk)

52 Allahu Akbar!’ – Migrant Knifeman Attacks Police

.. now we will never know his motivation
Posted by: SMOD

Cain't we ax him ?

Posted by: JT at March 13, 2023 08:05 AM (T4tVD)

53 So why weren't Jane Fonda and Lt Heinz ( Hero of Communist Victory )Catsup tried for Treason? A: Watergate, then President Jimmuh's blanket pardon of Vietnam war criminals.

Posted by: An Observation sez China Joe not my president at March 13, 2023 08:05 AM (CecP5)

54 So who has "White Supremacy" and "Trump" on their Bullshit Bingo Cards?
Posted by: Reuben Hick at March 13, 2023 08:03 AM (YXHzG)

Well, Trump or 'the former admin' is a foregone conclusion.

Extra points if he manages to pronounce 'wreckers' or 'Kulaks'.

Posted by: Aetius451AD Work Laptop at March 13, 2023 08:05 AM (zZu0s)

55 I am fascinated that you know such people. Maybe I am lucky, but I know exactly 0 such people.

you are lucky

they're all super libs in my family SUPER LIBS

they suddenly all care a LOT about the Oscars, about baseball (?!?!) about Ukraine etc etc. people who never took a gym class in their lives! all about baseball suddenly

annoying

Posted by: BlackOrchid at March 13, 2023 08:05 AM (w0NJk)

56 Ha, ha.

@zerohedge · 8h
Has Will Smith punched Jerome Powell yet [?]

Posted by: andycanuck (Vwz3I) at March 13, 2023 08:06 AM (Vwz3I)

57 It was mentioned on the book thread yesterday, but bears repeating, that socialism is the means to success for incompetent people.

Posted by: Thomas Paine at March 13, 2023 08:06 AM (lTGtQ)

58 So what enemy action triggered the run on SVB?

Posted by: G'rump928(c) at March 13, 2023 08:07 AM (yQpMk)

59 Entire US Congress Votes To Declassify [Chinese] COVID-19 Origins Intel
---
This sounds great and all, but can't FJB just ignore it with a pocket veto? Or find some Hawaiian judge to issue an injunction? Or simply ignore Congress?

What will Congress do to enforce this?

Posted by: "Perfessor" Squirrel at March 13, 2023 08:07 AM (YIVH2)

60 Actually, all gun control in this country, has its origins in Democrat Racism.

Posted by: An Observation sez China Joe not my president at March 13, 2023 08:07 AM (CecP5)

61 “And can’t help but ask how many equivalent aid packages to Ukraine (0.5 of them?) it takes to resolve the crisis impacting thousands of promising US technology companies,” he added.

Bail out the venture capitalists because some of their money might fund a promising tech startup? The federal gov should pay for my barn, because I might start up a semi- successful woodworking business someday.

Posted by: Cat Ass Trophy at March 13, 2023 08:07 AM (c6mm0)

62 55 😂 and condolences. You must have the patience of a saint

Posted by: Republic Theatre, brought to you by Pfizer! at March 13, 2023 08:08 AM (V4vPN)

63 Another year and no terrorist attack at the Oscars. I am sad.

Posted by: Mr Aspirin Factory at March 13, 2023 08:08 AM (ZqJGw)

64 I wonder if Naomi Wolf still believes the biggest lie: that the election wasn't stolen, and that we aren't living under a completely illegal, illegitimate coup government?

I bet she does.

Posted by: Taq, Rickrolled by Jesus at March 13, 2023 08:08 AM (iKBwy)

65 I wonder if Biden can work gun control into a speech on bank runs?
Posted by: Aetius451AD Work Laptop at March 13, 2023 08:01 AM (zZu0s)

Joe will work in gun control, his dead son and his crack head son and how when he was in banking in Alabama he marched in Selma to get low interest loans for those black families who had suffered lynching at the hands of the KKK.

More coffee...

Posted by: Hairyback Guy at March 13, 2023 08:09 AM (LAno9)

66 Entire US Congress Votes To Declassify [Chinese] COVID-19 Origins Intel

Sources and methods! Sources and methods! Hundreds of thousands of intel agents lives will be at risk!

Posted by: Cat Ass Trophy at March 13, 2023 08:09 AM (c6mm0)

67 Retardo is going to address the nation about the banks. I'm going to watch the stock futures as he speaks.
Posted by: bill in arkansas, not gonna comply with nuttin, waiting for the 0300 knock on the door at March 13, 2023 08:02 AM (lz5hY)
---
It's weird how every time he speaks it just happens to be National Opposite Day.

Posted by: "Perfessor" Squirrel at March 13, 2023 08:09 AM (YIVH2)

68 Happy National K9 Veterans Day!

Posted by: redridinghood at March 13, 2023 08:09 AM (NpAcC)

69 so ... what happens when the US petrodollar loses its sheen, exactly? because that might be on the horizon

Posted by: BlackOrchid at March 13, 2023 08:09 AM (w0NJk)

70 "You know what would solve our banking problems? SOCIALISM!" -average college student.

Posted by: NR Pax at March 13, 2023 08:10 AM (4olE8)

71 Damn it, I missed the Oscars last night. Damn it, damn it tom hell.

Oh wait... I don't care about these awards crap anymore. Never mind.

Posted by: dantesed at March 13, 2023 08:10 AM (88xKn)

72 You have to admit… the video I saw over the weekend that showed the line of people in Silicon Valley trying to get their money out of SVB…. It was an orderly line. Didn’t look like George Bailey’s bank run at the ‘ol Savings and Loan

Posted by: LinusVanPelt at March 13, 2023 08:10 AM (iqzch)

73 Why baseball? Is this season dedicated to PRIDE?

Posted by: Cat Ass Trophy at March 13, 2023 08:10 AM (c6mm0)

74 Naomi Wolf's article ought to be required reading for everyone on the left in this country.

Posted by: An Observation sez China Joe not my president at March 13, 2023 08:11 AM (CecP5)

75 73 Why baseball? Is this season dedicated to PRIDE?

I don't freaking know but it's annoying. maybe connected to their new love for Socialist America?

Posted by: BlackOrchid at March 13, 2023 08:11 AM (w0NJk)

76 Also,
Happy National Coconut Torte Day.

Posted by: redridinghood at March 13, 2023 08:11 AM (NpAcC)

77 31 "Is that your response to someone like David Horowitz as well? Or Taibbi? RFK Jr. etc.?
Posted by: J.J. Sefton

Yeah. Anybody gullible enough to fall for the media's BS gets the respect they deserve.
Posted by: fd at March 13, 2023 07:54 AM (iayUP)

Kind of shortsighted, aren't we?

Posted by: J.J. Sefton at March 13, 2023 08:11 AM (x0n13)

78 "Is this season dedicated to PRIDE?"

I sure hope so.

Posted by: fd at March 13, 2023 08:11 AM (iayUP)

79 This is a bailout of VC backed companies who don't understand cash management. They created their own liquidity crisis by the classic putting all your eggs in one basket scheme. Real companies with real treasurers understand spreading out cash reserves to avoid risk. Just mind-numbing.

Posted by: Indignacio Vindacatorem at March 13, 2023 08:12 AM (4kL7R)

80 Bank profits set all time high records in 2021/2022.this was in part due to Trump's deregulation if banks in the 50/250 billion asset class
This was the class SVB was in
In capitalism profits and shareholder value are the most important things.

Posted by: Paul at March 13, 2023 08:12 AM (lYGOd)

81 Joe will work in gun control, his dead son and his crack head son and how when he was in banking in Alabama he marched in Selma to get low interest loans for those black families who had suffered lynching at the hands of the KKK.

You are missing the Climate Change™ Putin and Vaxx slogans.

Posted by: Reuben Hick at March 13, 2023 08:13 AM (YXHzG)

82 64 I wonder if Naomi Wolf still believes the biggest lie: that the election wasn't stolen, and that we aren't living under a completely illegal, illegitimate coup government?

I bet she does.
Posted by: Taq, Rickrolled by Jesus at March 13, 2023 08:08 AM (iKBwy)

I dunno. Where are we at as far as her:

-her complete conversion and actually kind of impressive abasement and apologies make me wonder if this is a con to 'get in the movement' or a real conversion.

-are we thinking she converted on her own, or got railed to within an inch of her life by the Ghost of Barry Goldwater?

Posted by: Aetius451AD Work Laptop at March 13, 2023 08:13 AM (zZu0s)

83 I guess I'm at a loss to understand what it is that drool bib wearing, little girl sniffing, lying, conniving fucknuckle can say that will temper everyone's angst over this self inflicted crisis. I guess we'll just print more money to cover these clown show institutions and that will make everyone breathe easier.

Posted by: CrotchetyOldJarhead at March 13, 2023 08:14 AM (+2RzF)

84 I guess 08:00 hours is too early for Hopped-up Joe.

Posted by: andycanuck (Vwz3I) at March 13, 2023 08:14 AM (Vwz3I)

85 Why does Naomi Wolf feel compelled to apologize? Apologize to great lengths at that. I know why most people apologize when they've done something wrong, or been caught after the fact.

Could she be worried about something and wants to get out in front of it?

Posted by: Martini Farmer at March 13, 2023 08:14 AM (Q4IgG)

86 Maybe we can get more sub-90 IQ diversity hires to solve complicated problems.

I know when I'm in a real bind and things are at there worst, I usually call my frizzy headeded black lesbian friend, a cross-dressing furry, a tranny general, a man that attempts breast feed from dry nipples, a guy that looks like you crossed a Goonies character with a Ferengi with a giant bulge in his neck, a Latina bartender who makes TikTok videos, an 80 year old sot granny with giant plastic tits, a dementia Grampa that mutters incoherent shit and then wanders off, a clueless half-breed that sucked cock to shatter the glass ceiling, another drunken sot granny from an Arkansas trailer park, an effeminate half-breed Alfred E. Newman that bowls like a retard, a panel of squawking THOTs, harpies and homeless tramps on a morning show, a sodomite, a potato and a team diversity hire newsreaders, a 1/64th aged Squanto whore, a Jew York Senator, a midget Mengele, and a team of blood thirsty chicken hawks screaming Russia Russia Russia to help me navigate my way out of existential threats.

Christ Almighty.

How did our country turn the reigns over to a bunch of unqualified, reprobate halfwits?

Posted by: Bitter Clinger at March 13, 2023 08:14 AM (bdomY)

87 Peak stupid is a guy who wins an Oscar, supposedly a career peak moment, defending drag shows.

Posted by: Indignacio Vindacatorem at March 13, 2023 08:14 AM (4kL7R)

88 "Kind of shortsighted, aren't we?
Posted by: J.J. Sefton "

No, I've been treated as a leper and a liar and hater and a denier for the past three years. I'm not going to forgive or forget.

Posted by: fd at March 13, 2023 08:14 AM (iayUP)

89 Meanwhile, for eight months, SVB did not have a chief financial risk officer. From April 2022, when Laura Izurieta left the job, to January 2023, when Kim Olson was hired, the company had no one whose ultimate responsibility was to gauge risk.

----------

You can bet they had a Chief DIE Officer, and likely hundreds of mini-me NPC copies throughout management & HR, though. And why not, since everybody knew they'd be bailed-out if need be as Too Big to Fail and Too Big to Jail ... it's good to be ~~king~~ part of the favored oligarchic class!

Posted by: ShainS -- The Abolition of The West is from Men Without Chests at March 13, 2023 08:14 AM (wsx8x)

90 Morning all.

Posted by: rickb223 at March 13, 2023 08:14 AM (G8h7g)

91 Speaking of a run on the banks, funny, how the usual suspects are going apeshit over the prospect of SCOTUS rejecting the near trillion-dollar youth vote-buying scheme of student loan forgiveness. But I digress.

If you think SVB is a one-off, all you have to do is look at Disney, Coca Cola, Nike, Apple, and hundreds of other companies large and small, not to mention our government...

---

Reposted from pixy's thread:

Gotta get the switch over to digital currency somehow. The system is already in place and running. These are the planes that are supposed to hit the buildings.

And even if one of the planes goes down and can't finish the trip the building will still able to collapse.

Posted by: The pentagon can't account for 2.3T - D. Rumsfeld, 9/10/2001 at March 13, 2023 08:15 AM (/TXXS)

92 Bank profits set all time high records in 2021/2022.this was in part due to Trump's deregulation if banks in the 50/250 billion asset class
This was the class SVB was in
In capitalism profits and shareholder value are the most important things.

Posted by: Paul

--

So you're saying laws are in place already and just follow the law?

Welcome to the party, pal!

Posted by: The pentagon can't account for 2.3T - D. Rumsfeld, 9/10/2001 at March 13, 2023 08:16 AM (/TXXS)

93 Posted by: Paul at March 13, 2023 08:12 AM (lYGOd)
----------
You blasphemous DICK!!!

Posted by: jeff spicoli's brother at March 13, 2023 08:17 AM (Vwz3I)

94 How did our country turn the reigns over to a bunch of unqualified, reprobate halfwits?

Credentialism.

Posted by: CrotchetyOldJarhead at March 13, 2023 08:17 AM (+2RzF)

95 Market futures are fine. Regional bank ETF futures in a word, suck. The big banks are going to be fine. Same as it ever was.

Posted by: Indignacio Vindacatorem at March 13, 2023 08:17 AM (4kL7R)

96 “YOU SHOULD BE ABSOLUTELY TERRIFIED RIGHT NOW — THAT IS THE PROPER REACTION TO A BANK RUN & CONTAGION @POTUS & @SecYellen MUST GET ON TV TOMORROW AND GUARANTEE ALL DEPOSITS UP TO $10M OR THIS WILL SPIRAL INTO CHAOS,” entrepreneur Jason Calacanis exclaimed.
++++
Why would it spiral into chaos? Where's the contagion? A bank failed. A bank had duration mismatches in its capital structure, ended up on the wrong side of it, depositors got wind of the problem and ran the bank. The bank went into receivership and the FDIC will bail out depositors - if needed - up to the insurance limit. It's been orderly and, bluntly, the system is working more or less as designed.

So where's the contagion?

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:17 AM (t0OGg)

97 The neat part will be watching the stock market go up.

Posted by: The pentagon can't account for 2.3T - D. Rumsfeld, 9/10/2001 at March 13, 2023 08:17 AM (/TXXS)

98 87 Peak stupid is a guy who wins an Oscar, supposedly a career peak moment, defending drag shows.

also that movie wasn't that great

Gotta get the switch over to digital currency somehow. The system is already in place and running. These are the planes that are supposed to hit the buildings.

ding ding ding! that is what is happening. it's a manufactured crisis to push the digital currency policy forward.

Posted by: BlackOrchid at March 13, 2023 08:18 AM (w0NJk)

99 And it's snowing here. Awesome.

Posted by: Aetius451AD Work Laptop at March 13, 2023 08:18 AM (zZu0s)

100 Posted by: Bitter Clinger at March 13, 2023 08:14 AM

Nominated for comment of the week.

And it's only Monday morning.

Posted by: Taq, Rickrolled by Jesus at March 13, 2023 08:18 AM (iKBwy)

101 the most shocking item in JJs links today?

there exists (somehow, somewhere) a Vermont GOP

Posted by: BlackOrchid at March 13, 2023 08:19 AM (w0NJk)

102 Biden will blame the bank disaster on the previous administration and the MAGA Republicans.

Posted by: redridinghood at March 13, 2023 08:19 AM (NpAcC)

103 It's an Op.

Everything is a f**king Op and bullsh*t.

Posted by: Thomas Bender at March 13, 2023 08:19 AM (y8+A5)

104 Posted by: Indignacio Vindacatorem at March 13, 2023 08:17 AM (4kL7R)

Are you thinking there is going to be some shift in the banking world? People will be pulling their cash out of these types of institutions and redepositing it in a more secure bank?

Posted by: CrotchetyOldJarhead at March 13, 2023 08:19 AM (+2RzF)

105 Congress? What an antiquated notion.

Posted by: Dictators Everywhere at March 13, 2023 08:20 AM (TXFi7)

106 When Naomi Wolf does something more than write an apology letter then we can talk. She can start by renouncing the Hollywood hypocrites, the climate change BS, and the illegitimate Biden administration.

Posted by: fd at March 13, 2023 08:20 AM (iayUP)

107 ...you just won a 1978 Chrysler Cordoba! Go pick up the keys in Morty's office.

--

LOL

Posted by: Lady in Black at March 13, 2023 08:20 AM (sVtYq)

108 there exists (somehow, somewhere) a Vermont GOP
Posted by: BlackOrchid at March 13, 2023 08:19 AM (w0NJk)
---
It's probably located in a single household deep in the woods along the Canadian border.

Posted by: "Perfessor" Squirrel at March 13, 2023 08:21 AM (YIVH2)

109 Let it burn

Silicon Valley deserves this cleansing fire.

Posted by: MJ at March 13, 2023 08:21 AM (T2c3E)

110 I'll use the phrase "monopoly money" as an insult to this stupid system of pretending a piece of paper has value just because we want to play a game. But it's kind of a terrible comparison, because a Monopoly set has a fixed number of fake pieces of paper to play with. We're basically taking a box of sugar packets and pretending they're thousands.

Posted by: Warai-otoko at March 13, 2023 08:21 AM (/EuRN)

111 If the Techbros of Silicon Valley Bank get a bailout but the people of East Palestine are left with their hats in their hands... I don't know what to think. These two situations clearly illustrate the attitudes of the monoparty more than anything.

Posted by: Defenestratus at March 13, 2023 08:21 AM (q5abV)

112 Who is Naomi Wolfe and why should anyone care about what she says?

Posted by: CrotchetyOldJarhead at March 13, 2023 08:21 AM (+2RzF)

113 Why is it still so dark out?

Posted by: Dr. Bone at March 13, 2023 08:21 AM (Jg7EG)

114 Thomas Massie @RepThomasMassie · 11h
Just got off of a zoom meeting with Fed, Treasury, FDIC, House, and Senate.

A Democrat Senator essentially asked whether there was a program in place to censor information on social media that could lead to a run on the banks.

Rick Hinshaw @RickHinshaw · 11h Replying to @RepThomasMassie
I’m as anti-censorship as it gets, but spreading unfounded rumors to promote a run on a bank is one of the VERY few instances where the “yelling fire in a crowded theater” analogy actually DOES apply.

Thomas Massie @RepThomasMassie Replying to @RickHinshaw
What about yelling fire in a theater that’s on fire?

Posted by: jeff spicoli's brother at March 13, 2023 08:21 AM (Vwz3I)

115 “These banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns,” Marcus said. “Instead of protecting the shareholders and their employees, they are more concerned about the social policies. And I think it’s probably a badly run bank.”
++++
Wokeness is probably not the core problem at the commercial banks. On the investment side of things, you have the ESG menace which is more of a problem, but on the commercial side this is more likely something else.

And that something else is probably much more dangerous in the short term. We're coming off 15 years of intensive and extensive Fed manipulation of the bond market. Banks that play on duration - and SVB appears to be one of the many that do - are now getting pinned down as rates ratchet up and, therefore, prices ratchet down.

Beyond any of its own incompetence - which there surely is plenty of - SVB is likely a victim of the Fed losing control of its 15-year manipulation game. SVB will not be the last. Any "contagion" is not due to SVB, but due to the Fed.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:22 AM (t0OGg)

116 If the Techbros of Silicon Valley Bank get a bailout but the people of East Palestine are left with their hats in their hands..

--

The people of East Palestine will. The railroad and shipping companies will get paid.

Posted by: The pentagon can't account for 2.3T - D. Rumsfeld, 9/10/2001 at March 13, 2023 08:22 AM (/TXXS)

117 #114 sock off

Posted by: andycanuck (Vwz3I) at March 13, 2023 08:22 AM (Vwz3I)

118 the most shocking item in JJs links today?

there exists (somehow, somewhere) a Vermont GOP
Posted by: BlackOrchid at March 13, 2023 08:19 AM

We meet with them in the same phone booth.

- the MA GOP

Posted by: RedMindBlueState at March 13, 2023 08:22 AM (Wnv9h)

119 114 - Andy that is a TERRIFIC exchange lol

Posted by: BlackOrchid at March 13, 2023 08:23 AM (w0NJk)

120 "West Virginia leads the nation in the amount of transgender teens they have per capita."

What? How in the world did this happen?

Posted by: redridinghood at March 13, 2023 08:23 AM (NpAcC)

121 It's bad enough that idlers, hacks, cronies and other stooges become heads of bureaucracies, ambassadors and other positions in government. But when, either by choice or compulsion start occupying positions in C-suites, or are accepted to business schools, engineering schools and medical schools and worse, "earn" their degrees (that's going to be one big-ass bell curve) and are let loose into the world, well, just look at the collapse of SVB as a possible harbinger.

----------

ClownWorld is a big circus, and we ain't in it. And at the risk of crossing the memes: it's also now business out-of-control. and we'll be lucky to live through it.

Posted by: ShainS -- The Abolition of The West is from Men Without Chests at March 13, 2023 08:23 AM (wsx8x)

122 The neat part is I suspect we still haven't recovered from 2008 yet.

Posted by: The pentagon can't account for 2.3T - D. Rumsfeld, 9/10/2001 at March 13, 2023 08:23 AM (/TXXS)

123 I keep seeing article after article claiming that the FDIC will ensure *all* depositors at both failed banks are made whole and the cost will not be borne by the taxpayer.

I am gonna toss the bull$hit flag on that. We will pay for it one way or another.

Posted by: Mister Scott (Formerly GWS) at March 13, 2023 08:23 AM (uNylN)

124 FDIC at work: The Phillips and Rogers Medusa pistol was the work of a NASA engineer and a person who had inherited 200 million dollars - who financed the development. One day the financial guy's accountant suggested that it would be a good idea to diversify his holdings, by investing in something else, say maybe buy shares in a bank or something. So he did, a whopping $10,000 worth.

No sooner did he do so than the other owners of the bank stole all the money and took off for "No extradition" land. The FDIC held him responsible for the entire debt of the bank and seized his entire $200,000,000 to pay for it.

That is why that pistol is no longer being produced.

Posted by: An Observation sez China Joe not my president at March 13, 2023 08:23 AM (CecP5)

125 For all but the willfully blind, the Biden pick is unqualified to head the FAA. So the people have a right to wonder how he got tapped for the job.
++++
Cronyism, the trading of favors and the machinations of the ruling party.

There, wonder no more.

Also, do not wonder when he is confirmed.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:23 AM (t0OGg)

126 But let me be clear as the blue lipped mother fucker: there will be a bailout but the government will say there is no bailout.

It’s Silicon Valley, which is as important as wall st.

Posted by: MJ at March 13, 2023 08:23 AM (T2c3E)

127 How do I get one of those high paying do nothing government jobs? Make me FAA chairman. At least I have some flying experience.

Posted by: Cat Ass Trophy at March 13, 2023 08:24 AM (c6mm0)

128 Lots of tards leading really kickass lives, my dudes. Lots of tards...

Posted by: Dr. Lexus at March 13, 2023 08:24 AM (l7w30)

129 120 "West Virginia leads the nation in the amount of transgender teens they have per capita."

What? How in the world did this happen?
Posted by: redridinghood at March 13, 2023 08:23 AM (NpAcC)

They all identify as having eight heads.

Posted by: Warai-otoko at March 13, 2023 08:24 AM (/EuRN)

130 Some regional banks will be down 50% today because people don't understand banks or the Fed. There will be some investor risk flight to bigger institutions no doubt, probably part of the plan as well. The most important thing is the basketball tournament starts this weekend so nothing to worry about.

Posted by: Indignacio Vindacatorem at March 13, 2023 08:24 AM (4kL7R)

131
How did our country turn the reigns over to a bunch of unqualified, reprobate halfwits?

Posted by: Bitter Clinger at March 13, 2023 08:14 AM

Because a bunch of unqualified, reprobate halfwits 'fortified' the 2020 election.

Posted by: Divide by Zero at March 13, 2023 08:25 AM (enJYY)

132 122 The neat part is I suspect we still haven't recovered from 2008 yet.

that correction was never allowed to happen

actually, the dot com bust itself from years before that wasn't allowed to fully happen, and all the OG tech bros moved into real estate, which caused 2008 ... etc etc ... and they always got a soft landing and now the problem is exponentially larger

our currency... honestly I have no idea how it hasn't collapsed yet

Posted by: BlackOrchid at March 13, 2023 08:25 AM (w0NJk)

133 Thank you, JJ.

Monday, the 13th.

Posted by: It's Not Votes, It's Not Ballots, It's Ballots Counted at March 13, 2023 08:26 AM (jV+aN)

134 Will the chances of a federal bank bailout be in relation to the amount of kickback $$$ that can be funneled to the Democrat Party?

Posted by: Lady in Black at March 13, 2023 08:26 AM (sVtYq)

135 And on top of all the other good news, we're due for 8-14" of snow between tomorrow and Wednesday. Yay, us.

Posted by: RedMindBlueState at March 13, 2023 08:26 AM (Wnv9h)

136 Why, when we're slitting our own throats, would they do that? At the rate we're going, they can waltz right in and take over without firing a shot.
++++
The only reason I can think of is timing. "There's a lot of ruin in a country" and there's no country with more ruin in it than this one. It takes time. Even with the breakneck speed since 2016 and especially 2020, the USA is *still* the cleanest dirty shirt in the world.

Conquest would be hard, but disastrous disruption would be much easier. If they think we're now structurally weak enough, a preemptive attack would kick us past the knee of the curve with huge velocity, and bring about the collapse they want to see. That might be the bet in such speculation.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:26 AM (t0OGg)

137 Will the chances of a federal bank bailout be in relation to the amount of kickback $$$ that can be funneled to the Democrat Party?
Posted by: Lady in Black at March 13, 2023 08:26 AM (sVtYq)
++++
It's Silicon Valley. SV supports only side.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:27 AM (t0OGg)

138 You want a dead son or an alive daughter? Powerful words to parents who are blindsided by their childs sudden, imperative need to transition.

Posted by: Cat Ass Trophy at March 13, 2023 08:27 AM (c6mm0)

139 Not getting a new page on American Thinker, can someone check and see if they can get today up? It use to be 4am but now posts new at various times but still something new by 5am always.

Posted by: Skip at March 13, 2023 08:27 AM (C+qwo)

140 Personally I do think the woke agenda is responsible for the degraded banking institution. The "go woke, go broke" axiom is in play here. Regardless of the amount of oversight the Fed has on the banking industry a woke BoD and bank president is not going to look out for the depositors best interests.

The will look out for the local transgenders, the local Antifa, the local LGBQXYZ and so on. But not their core business of banking.

Posted by: Martini Farmer at March 13, 2023 08:28 AM (Q4IgG)

141 You want a dead son or an alive daughter?

--

You'll get them both if you choose the latter.

Posted by: The pentagon can't account for 2.3T - D. Rumsfeld, 9/10/2001 at March 13, 2023 08:28 AM (/TXXS)

142 120 "West Virginia leads the nation in the amount of transgender teens they have per capita."

What? How in the world did this happen?
Posted by: redridinghood at March 13, 2023 08:23 AM (NpAcC)

'Hey, They/Them. You awake?'

Posted by: A very old joke at March 13, 2023 08:29 AM (zZu0s)

143 135 And on top of all the other good news, we're due for 8-14" of snow between tomorrow and Wednesday. Yay, us.

Is it possible that we're emptying all of our savings and going bankrupt in honor of Women+ History Month?

Posted by: Bitter Clinger at March 13, 2023 08:29 AM (bdomY)

144 I'm willing to accept Naomi Wolfe's apology at face value as it's always good to see a lefty red pilled. I still think that part of her turn around however was her massive screw up in research regarding gays being executed for be various crime in 18th and 19th century England. The left realized that it crushed her reputation and she was no longer welcome as a deep lefty thinker

Posted by: Smell the Glove at March 13, 2023 08:29 AM (ZPsfc)

145 I guess the injections haven't kicked in yet.

@zerohedge · 36m
BIDEN TO GIVE BANKING REMARKS AT 9 A.M. (1300GMT) -WHITE HOUSE

Is that before or after Last Republic Bank fails [?]

Posted by: andycanuck (Vwz3I) at March 13, 2023 08:29 AM (Vwz3I)

146 Damn it, I missed the Oscars last night. Damn it, damn it tom hell.

Oh wait... I don't care about these awards crap anymore. Never mind.
Posted by: dantesed at March 13, 2023 08:10 AM (88xKn)

i had to watch last night, mrs is HUGE follower of hollywood. and honestly, i was impressed that it took until the last couple of awards for the politics to come out. kimmel was his usall self-obsessed shit-head and had a jab at tucker. I'd really like tucker to just play a montage of the closing credits of the man show to remind everyone where kimmel got started...

Peak stupid is a guy who wins an Oscar, supposedly a career peak moment, defending drag shows.

also that movie wasn't that great

i gave up after 20 minutes. i TRIED to watch it because short-round, but the writing was SO bad, and those guys won awards for that.... smh

Posted by: SturmToddler at March 13, 2023 08:30 AM (Mkvkw)

147 Biden re-nominated Washington in January, so it’s pretty clear the FAA was a reward for service to Biden
------

Yas, queen. Slay! all those people on a commercial airliner.

Faster. Harder.

Posted by: insurgens ad opus at March 13, 2023 08:30 AM (b306O)

148 The dead son versus live daughter gambit is a perverse irewrite of the prodigal son parable for our times

Posted by: Indignacio Vindacatorem at March 13, 2023 08:30 AM (4kL7R)

149 Can you say CBDC?

Posted by: Sock Monkey * Free Jacob Chansley at March 13, 2023 08:31 AM (Lz0xF)

150 138 You want a dead son or an alive daughter? Powerful words to parents who are blindsided by their childs sudden, imperative need to transition.
Posted by: Cat Ass Trophy at March 13, 2023 08:27 AM (c6mm0)

It's supposed to be. Pressure someone into consent. Rush them into consent. Intimidate them into consent. Threaten them into consent.

Typical Commie/Woke mind games.

Posted by: Aetius451AD Work Laptop at March 13, 2023 08:31 AM (zZu0s)

151
Why is it still so dark out?

Posted by: Dr. Bone at March 13, 2023 08:21 AM

Not sure where you are but in SE corner of PA we're almost at 12/12 - 12 hours of daylight, 12 hours of night.

Posted by: Divide by Zero at March 13, 2023 08:31 AM (enJYY)

152 119 114 - Andy that is a TERRIFIC exchange lol
Posted by: BlackOrchid
--------
The guy Massie was 'talking' to is a USMA grad although his twatter mini-bio didn't overtly state he was e.g. pro-Trump.

Posted by: andycanuck (Vwz3I) at March 13, 2023 08:32 AM (Vwz3I)

153 "West Virginia leads the nation in the amount of transgender teens they have per capita."

What? How in the world did this happen?

---

My money is on "because it's not true and everything is a lie and an op." Here's the folks that did the study to make sure that The Gay is everywhere.

"The Williams Institute is the leading research center on sexual orientation and gender identity law and public policy. We ensure that facts — not stereotypes — inform laws, policies, and judicial decisions that affect the LGBT community.

The Williams Project was founded in 2001 by businessman and philanthropist Charles Williams, Bill Rubenstein, Brad Sears, and scholars at UCLA School of Law. Their goal was to replace the pervasive bias against LGBT people in law, policy, and culture with independent research on LGBT issues. In 2006, the Williams Project merged with the Institute for Gay & Lesbian Strategic Studies, becoming the Williams Institute."

https://tinyurl.com/2zj8awml

FACTS NOT STEREOTYPES H8RS!!!

Posted by: The pentagon can't account for 2.3T - D. Rumsfeld, 9/10/2001 at March 13, 2023 08:32 AM (/TXXS)

154 Daniel Greenfield: "Two of the three branches of government are in the hands of the mentally incapable."

-
Which one does he think is OK because I can't think of one?

Posted by: Anonosaurus Wrecks, Is this the real life? Is this just fantasy? at March 13, 2023 08:33 AM (FVME7)

155 Thomas Massie @RepThomasMassie Replying to @RickHinshaw
What about yelling fire in a theater that’s on fire?

As Dan Bongino has pointed out repeatedly, the SCOTUS case saying that, was overturned by a second SCOTUS case 40 years ago. "Shouting 'Fire' in a crowded building" is no longer the legal standard for a limitation on freedom of speech. Its like the liberal 'truth' of "Separation of Church and State"; which is simply not in the Constitution.

Posted by: An Observation sez China Joe not my president at March 13, 2023 08:33 AM (CecP5)

156 Daniel Greenfield: "Two of the three branches of government are in the hands of the mentally incapable."

Who’s Running America?

--------

The three actual, incestuous, shadow branches: the Deep State, the Feral Bureaucracy, and their propaganda/censorship arms of The MDM-MSM and Big Tech. All six in partnership with, and often subservient to, their ChiComm paymasters ...

Posted by: ShainS -- The Abolition of The West is from Men Without Chests at March 13, 2023 08:34 AM (wsx8x)

157 enjoy life. One of the ways you can enjoy it best is by tuning out the ...

*********

I would summarize the article for you, but I stopped reading at that point.

Posted by: Muldoon at March 13, 2023 08:34 AM (ykeLU)

158 We are 30T in debt or something like that and the junta's idea is to bankrupt the Russians by, ah, spending MORE money.

Brilliant!

Posted by: 18-1 at March 13, 2023 08:35 AM (lc5cP)

159 And a good morning Horde and thx JJ. I turned on CNBC last night at around 7 as they were having special coverage of SVB. Cramer was whining and then applauding the FDIC for their actions. He looked and sounded pathetic, and of course he mentioned nothing about his very recent endorsement of SVB as a great investment

Posted by: Smell the Glove at March 13, 2023 08:35 AM (ZPsfc)

160
Go on, take the money and run

Posted by: Divide by Zero at March 13, 2023 08:35 AM (enJYY)

161 150 138 You want a dead son or an alive daughter?

The reality is that over half will try to kill themselves AFTER transgender treatments which, somewhat ironically, is a sane, rational response to looking down and realizing you chopped your own dick/tits off for vanity.

Posted by: Bitter Clinger at March 13, 2023 08:35 AM (bdomY)

162 The SVB failure was both incompetence and the results of 'money printer go brrrrrrrrr!' by Biden and Congress, right?

But this doesn't make me sympathetic: "Max Cho found himself in the middle of a bank run while sitting on a shuttle bus in Montana. The co-founder of insurance start-up Coverage Cat, Mr. Cho had landed at the Bozeman airport Thursday and boarded a bus for the hourlong drive to a startup founders' retreat in Big Sky. . . .

I've worked at a few start-ups, one in particular that had so much venture capital they couldn't waste it fast enough chasing their dream of a business that was never going to be more than a niche service. Forgive me if I'm not all that wrecked over a bunch of arrogant, young techies losing their shirts and dreams of the next cool app or re-imagined service (e.g. uber, airbnb) that makes our lives more complicated and less human.
And yeah, I know that this will impact us all, the degree to which is TBD.

Freakin' DST.

Posted by: Lizzy at March 13, 2023 08:35 AM (mqu1M)

163 Good morning. Who can believe any news reporting anymore? Who can take anything at face value? For myself, a low trust mindset prevails.

Posted by: tubal at March 13, 2023 08:35 AM (PCK5/)

164 Even as Jan. 6 Narrative Implodes, Pence Still Blames Bad Orange Man for Endangering His Life

-
Geez, pussy, go have yourself a good cry.

Posted by: Anonosaurus Wrecks, Is this the real life? Is this just fantasy? at March 13, 2023 08:36 AM (FVME7)

165 Just another Manic Monday...

Posted by: redridinghood at March 13, 2023 08:36 AM (NpAcC)

166 Congress? What an antiquated notion.
Posted by: Dictators Everywhere at March 13, 2023 08:20 AM (TXFi7)

I was at the Battle of Guilford Courthouse reenactment this weekend, and heard the following exchange a few times...

British Soldier: God save the King!
Patriot Soldier: God save Congress! they need it...

Posted by: SturmToddler at March 13, 2023 08:36 AM (Mkvkw)

167 Today’s blacklisted American: Mother sued by teacher’s union for requesting her child’s kindergarten curriculum

--

Where is the "if you have nothing to hide" crowd to bolster this poor mom? If it were me, that mother should've yanked her kid out of that school the split second they gave her any flack on sharing a curriculum...for her kindergartener! What one would expect to see (typical kindergarten activities) is not what's going on. And that proof is cemented in their lawsuit. A lawsuit?!

Posted by: Lady in Black at March 13, 2023 08:37 AM (sVtYq)

168 Its like the liberal 'truth' of "Separation of Church and State"; which is simply not in the Constitution.

Its actually worse then that. In the letter it comes from President Jefferson argued the government can't discriminate against the Danbury Baptists just because the people in the government of CT thought they were religious wierdos.

The phrase has been used since then for the opposite reason to restrict religious people the government does not like.

Posted by: 18-1 at March 13, 2023 08:37 AM (lc5cP)

169 “These banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns,” Marcus said.

I love it when reality kicks in. Now imagine this happening across the whole country and every woke institution. That is the contagion Yeltsin/leftists are worried about.

Posted by: Ripley at March 13, 2023 08:37 AM (cUYo/)

170 Where is the "if you have nothing to hide" crowd to bolster this poor mom? If it were me, that mother should've yanked her kid out of that school the split second they gave her any flack on sharing a curriculum...for her kindergartener! What one would expect to see (typical kindergarten activities) is not what's going on. And that proof is cemented in their lawsuit. A lawsuit?!
Posted by: Lady in Black at March 13, 2023 08:37 AM (sVtYq)
---
Countersue and let the lawfare fly!

Posted by: "Perfessor" Squirrel at March 13, 2023 08:38 AM (YIVH2)

171 Someone should ask Biden's nominee to the FAA what's the difference between a 747 and a Sopwith Camel.

Posted by: dantesed at March 13, 2023 08:38 AM (88xKn)

172 Insty has a link to a story letting us know Biden is going to address the banking crisis. Which means things are going to get worse.

Go long gold, silver, canned goods, brass and lead.

Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 08:38 AM (2YtOq)

173
Even as Jan. 6 Narrative Implodes, Pence Still Blames Bad Orange Man for Endangering His Life
-
Geez, pussy, go have yourself a good cry.

Posted by: Anonosaurus Wrecks, Is this the real life? Is this just fantasy?

Everyone should pull a Tiger Woods and mail Pence a Kotex.

Posted by: Divide by Zero at March 13, 2023 08:38 AM (enJYY)

174 The three actual, incestuous, shadow branches: the Deep State, the Feral Bureaucracy, and their propaganda/censorship arms of The MDM-MSM and Big Tech. All six in partnership with, and often subservient to, their ChiComm paymasters ...
Posted by: ShainS -- The Abolition of The West is from Men Without Chests at March 13, 2023 08:34 AM (wsx8x)
++++
It's all one complex. Who's in charge? It's the State/Party/Media Complex. Where's the Complex centered? The executive branch. To whom does the Complex answer? No one. It's factions and cabals, as happen in any bureaucratic tyranny.

If you want to try to fix it, only two "branches" matter: the legislative and the executive. At the current moment (and for the past several decades at least), the legislative branch might as well not exist. It ceded everything. There is a possibility that the legislative branch can res-impose its will by cutting off the executive of needed funding, shutting down the government, and holding firm through the chaos that comes next. They won't do it, though. So it's the executive branch only, as it has been for decades. And that executive branch continues to operate independently of the executive himself.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:38 AM (t0OGg)

175 My third wife was Jimmy Kimmel.

Posted by: Dr. Lexus at March 13, 2023 08:38 AM (l7w30)

176 "West Virginia leads the nation in the amount of transgender teens they have per capita."

What? How in the world did this happen?
_______________

"per capita"

Plus it's something pretty hard to determine which sex some of those "hill people" are.

Posted by: Martini Farmer at March 13, 2023 08:39 AM (Q4IgG)

177
The reality is that over half will try to kill themselves AFTER transgender treatments which, somewhat ironically, is a sane, rational response to looking down and realizing you chopped your own dick/tits off for vanity.

Imagine convincing people with a sex kink to destroy their bodies AND remove the organs that allow them to enjoy that sex kink. Its actually demonic in its level of malevolence.

Posted by: 18-1 at March 13, 2023 08:39 AM (lc5cP)

178 @158, I mentioned to a friend that the Ukraine war, designed to wreck Russia, is doing a helluva job on the US. Let's go Brandon.

Posted by: Indignacio Vindacatorem at March 13, 2023 08:40 AM (4kL7R)

179 Looking at 8-12 inches here in K-town with possibly up to 2 ft in the mountains. . March is giving us more winter then the rest of the winter combined. The reservoirs need the runoff.

Posted by: Smell the Glove at March 13, 2023 08:40 AM (ZPsfc)

180 "Science fiction becomes dystopian fact."
Study Suggests AI Can Literally Read Your Mind, and With Extreme Accuracy

The headline is a total lie. AI is only as good as its training, and if it is trained on imbeciles and fools, then it will "read" that in its subjects.

So what does one do when ideology comes into play? The AI here is trying to identify objects that might appear in one's mind, but absolutely nothing about thought process, abstractions or concepts that defy understanding because the external "reader" doesn't have any conceptual knowledge or language to support even musing on the idea.

Again, hype.

Posted by: Reuben Hick at March 13, 2023 08:40 AM (YXHzG)

181 Why would it spiral into chaos? Where's the contagion? A bank failed. A bank had duration mismatches in its capital structure, ended up on the wrong side of it, depositors got wind of the problem and ran the bank. The bank went into receivership and the FDIC will bail out depositors - if needed - up to the insurance limit. It's been orderly and, bluntly, the system is working more or less as designed.

So where's the contagion?
Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:17 AM (t0OGg)

It definitely isn't a repeat of 07 where some banks were heavily invested in assets of dubious value.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 08:40 AM (eYoxG)

182 >> You want a dead son or an alive daughter? Powerful words to parents who are blindsided by their childs sudden, imperative need to transition.

BS emotional blackmail.
The choice is not binary -- you want a live son, unmolested by life-destroying "gender treatment" during a passing phase/trend.

Posted by: Lizzy at March 13, 2023 08:40 AM (mqu1M)

183 Thomas Massie @RepThomasMassie Replying to @RickHinshaw
What about yelling fire in a theater that’s on fire?
-----------
As Dan Bongino has pointed out repeatedly, the SCOTUS case saying that, was overturned by a second SCOTUS case 40 years ago.
==============
It was "Rick Hinshaw" making the claim; Massie was being sarcastic.

Posted by: andycanuck (Vwz3I) at March 13, 2023 08:40 AM (Vwz3I)

184 Bibem’s speech will be simple.
He’ll say….
“Go woke. Go broke you ignor-anus F’s!
You’ve been F’d in the A!

Posted by: Keezen at March 13, 2023 08:40 AM (qSbxT)

185 Even as Jan. 6 Narrative Implodes, Pence Still Blames Bad Orange Man for Endangering His Life

Anyone ask Pence if the people injured by illegals and/or China should be able to have him arrested?

Posted by: 18-1 at March 13, 2023 08:40 AM (lc5cP)

186 If you want to try to fix it, only two "branches" matter: the legislative and the executive. At the current moment (and for the past several decades at least), the legislative branch might as well not exist. It ceded everything. There is a possibility that the legislative branch can res-impose its will by cutting off the executive of needed funding, shutting down the government, and holding firm through the chaos that comes next. They won't do it, though. So it's the executive branch only, as it has been for decades. And that executive branch continues to operate independently of the executive himself.
Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:38 AM (t0OGg)
----
I'm still doubtful that the legislative branch *can* control any of the Deep State by cutting off funding. It seems like the Executive Branch holds all the cards here, as FJB will just order more money to be printed.

Posted by: "Perfessor" Squirrel at March 13, 2023 08:41 AM (YIVH2)

187 i gave up after 20 minutes. i TRIED to watch it because short-round, but the writing was SO bad, and those guys won awards for that.... smh
Posted by: SturmToddler

Didn't watch it. Only cared about Brendan Fraiser winning Best Actor because of the faggot shit pulled on him 20 years ago thereby torpedoing his career.

Posted by: rickb223 at March 13, 2023 08:41 AM (G8h7g)

188 Rick Hinshaw @RickHinshaw · 11h Replying to @RepThomasMassie
I’m as anti-censorship as it gets, but

Uh huh.

Posted by: antisocial justice beatnik at March 13, 2023 08:41 AM (DTX3h)

189 >>>> You want a dead son or an alive daughter? Powerful words to parents who are blindsided by their childs sudden, imperative need to transition.

I should add: I want grandchildren.

Posted by: Lizzy at March 13, 2023 08:42 AM (mqu1M)

190 Freakin' DST.
Posted by: Lizzy at March 13, 2023 08:35 AM (mqu1M)
++++
An idea whose time never came, should never have been implemented and whose perpetuation is absurd in the extreme.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:42 AM (t0OGg)

191 Glad I belong to a local CU that doesn't play this crap.

Posted by: Infidel at March 13, 2023 08:42 AM (tITEI)

192 87 Peak stupid is a guy who wins an Oscar, supposedly a career peak moment, defending drag shows.
____

Drag shows in general, while gross, are not the target of the normals, it is drag shows with children present that is the objection. But an honest debate is never allowed to happen.

Posted by: Chuck Martel at March 13, 2023 08:42 AM (fs1hN)

193 i gave up after 20 minutes. i TRIED to watch it because short-round, but the writing was SO bad, and those guys won awards for that.... smh
Posted by: SturmToddler

---

I liked it because it was goofy and silly and overall pretty bad for a big-time movie. I like that sort of thing. It was borderline B-movie.

I think the prizes have a lot to do with China and Chinese money.

Posted by: The pentagon can't account for 2.3T - D. Rumsfeld, 9/10/2001 at March 13, 2023 08:42 AM (/TXXS)

194 "The Spirit of the Sovereign Lord is on me,
because the Lord has anointed me
to proclaim good news to the poor.
He has sent me to bind up the brokenhearted,
to proclaim freedom for the captives
and release from darkness for the prisoners,[a]
to proclaim the year of the Lord’s favor
and the day of vengeance of our God,
to comfort all who mourn,
and provide for those who grieve in Zion—
to bestow on them a crown of beauty
instead of ashes,
the oil of joy
instead of mourning,
and a garment of praise
instead of a spirit of despair.
They will be called oaks of righteousness,
a planting of the Lord
for the display of his splendor."

Isaiah 61:1-3

Posted by: Marcus T at March 13, 2023 08:42 AM (SAX5G)

195 Rick Hinshaw @RickHinshaw · 11h Replying to @RepThomasMassie
I’m as anti-censorship as it gets, but

The left's current drive for censorship only goes away when the censorship weapon gets turned on them.

Until that all this discussion is wasted.

Posted by: 18-1 at March 13, 2023 08:42 AM (lc5cP)

196 you know, i was kind of wondering, re the Washington nomination for FAA, does it REALLY matter that the head of the FAA, or most organizations, doesn't know the minutia?

I get that it looked bad in congress that he couldn't answer those questions, but if, and it's a MASSIVE if, he was a competent manager and organizer who's job was to put the correct people in the correct places to make things work better and safer, then i really wouldn't care that he's not down on all the specifics of a pilots requiremtns.

but i'm also sure, that is NOT the case and not only does he NOT know the basics, he also doesn't know HOW to manage and will be as bad of a disaster as bootygig is ...

Posted by: SturmToddler at March 13, 2023 08:43 AM (Mkvkw)

197 Thomas Massie @RepThomasMassie Replying to @RickHinshaw
What about yelling fire in a theater that’s on fire?
-----------
As Dan Bongino has pointed out repeatedly, the SCOTUS case saying that, was overturned by a second SCOTUS case 40 years ago.
==============
It was "Rick Hinshaw" making the claim; Massie was being sarcastic.

I think Nancy Pelosi set us all straight on the actual phrase: " You can't cry out 'wolf' in a crowded theater"

Posted by: Reuben Hick at March 13, 2023 08:43 AM (YXHzG)

198 “These banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns,” Marcus said.
......
I love it when reality kicks in. Now imagine this happening across the whole country and every woke institution. That is the contagion Yeltsin/leftists are worried about.

Posted by: Ripley at March 13, 2023 08:37 AM

This is what I was saying this morning about bank failures. In the 'before' times the failure resulted in feelings of shame and flight out the nearest window. Now, it's a flight back to New Delhi.

Nothing about foreigners, just that they can go back home without the shame and feeling that they've let down their friends, neighbors, and country.

Posted by: Divide by Zero at March 13, 2023 08:43 AM (enJYY)

199 I'm still doubtful that the legislative branch *can* control any of the Deep State by cutting off funding. It seems like the Executive Branch holds all the cards here, as FJB will just order more money to be printed.
Posted by: "Perfessor" Squirrel at March 13, 2023 08:41 AM (YIVH2)
++++
Which would precipitate a constitutional crisis and likely widespread breakdown. It's a risk.

There's nothing but risk now.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:43 AM (t0OGg)

200 But an honest debate is never allowed to happen.

Motte: You want to stop adults from enjoying drag shows you Footloose villain!

Bailey: So you have to let toddler's give dollar bills to tranny strippers

Posted by: 18-1 at March 13, 2023 08:44 AM (lc5cP)

201 BOOM! Oversight Chair James Comer: “IT’S AS BAD AS WE THOUGHT – We Have In Hand Documents That Show Biden Family Was Getting Money from Chinese Communist Party”

Posted by: Tyler Durden at March 13, 2023 07:51 AM (SrPpJ)
--------
Yeah, saw the Gateway Pundit story on this yeserday where he declared "Biden is done."

BWAHAHAHAHAH. All this was known and documented years ago by Peter Schweizer. *crickets*

All these scum on the Left have gotten away with serial treason, coups, murders, unlimited financial corruption, and other crimes too numerous to list for at least half a century now (hello Teddy Kennedy?) -- which is why they continue to do so overtly now and in-our-faces. But Trump said "Pussy", had to be fake-impeached twice, and will likely end up in prison if a D.C. jury can get their hands around his hyoid ...

Posted by: ShainS -- The Abolition of The West is from Men Without Chests at March 13, 2023 08:44 AM (wsx8x)

202 I guess EMPs are sexy so that's what people claiming are coming.

I think it will be more prosaic than that.

Posted by: blaster at March 13, 2023 08:44 AM (pwExq)

203 Which would precipitate a constitutional crisis and likely widespread breakdown. It's a risk.

There's nothing but risk now.
Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:43 AM (t0OGg)
---
Oh, I don't dispute that. We are beyond the looking glass now, though, living in the Upside Down.

Posted by: "Perfessor" Squirrel at March 13, 2023 08:45 AM (YIVH2)

204 Wisconsin Indian Hostage Crisis Teeters On Violence Because Biden, Tony Evers Do Nothing

"Since the road closures, residents have been unable to go to work or school, get groceries, or take out their garbage without crossing frozen lakes. Once the ice melts, “we’ll be actual prisoners,”

FNC ran a few stories on this last week.
I feel sorry for these people that are trapped.
Good luck if there is a medical emergency.

Posted by: redridinghood at March 13, 2023 08:45 AM (NpAcC)

205 Overall I don't have a problem with the Oscar winners except for Cate Blancett not winning for Tar, she got robbed.

Posted by: Thomas Bender at March 13, 2023 08:45 AM (y8+A5)

206 I think Nancy Pelosi set us all straight on the actual phrase: " You can't cry out 'wolf' in a crowded theater"
-----------
Especially if the theatre is made of straw!

Posted by: andycanuck (Vwz3I) at March 13, 2023 08:46 AM (Vwz3I)

207 It's not every Monday where you have a chance to win a '78 Cordoba with rich Corinthian leather.

Posted by: bill in arkansas, not gonna comply with nuttin, waiting for the 0300 knock on the door at March 13, 2023 08:46 AM (lz5hY)

208 BWAHAHAHAHAH. All this was known and documented years ago by Peter Schweizer. *crickets*

Shortly after 9/11 a whistleblower came forward and said the data analysis program he was running for the NSA knew Atta was in the country and planning a major terror attack.

BUT his program had been closed for a reason completely separate from Atta/Al Qaeda.

The reason? His program found a number of major American politicians were on China's payroll and obviously that was false...

Posted by: 18-1 at March 13, 2023 08:46 AM (lc5cP)

209 Washington nomination for FAA, does it REALLY matter that the head of the FAA, or most organizations, doesn't know the minutia?

Maybe not, but would it have hurt him to a least TRY to prepare for a job interview like everyone else? That basic laziness communicates volumes.

Posted by: Halfhand at March 13, 2023 08:46 AM (iT0ZD)

210 Top Democrats Call on Party Members to Stop Denigrating Veep Throat Harris

-
This greatest threat facing the US: Noticing that Harris is a blithering idiot.

Posted by: Anonosaurus Wrecks, Is this the real life? Is this just fantasy? at March 13, 2023 08:46 AM (FVME7)

211 Overall I don't have a problem with the Oscar winners except for Cate Blancett not winning for Tar, she got robbed.

Posted by: Thomas Bender at March 13, 2023 08:45 AM (y8+A5)

It just wasn't the same without Zelensky, though.

Posted by: Bitter Clinger at March 13, 2023 08:46 AM (bdomY)

212 ut if, and it's a MASSIVE if, he was a competent manager and organizer who's job was to put the correct people in the correct places to make things work better and safer, then i really wouldn't care that he's not down on all the specifics of a pilots requiremtns.
____
One sign of a competent manager would be if he prepared himself for the job interview (nomination hearing)

Posted by: Chuck Martel at March 13, 2023 08:47 AM (fs1hN)

213 Oh, I don't dispute that. We are beyond the looking glass now, though, living in the Upside Down.
Posted by: "Perfessor" Squirrel at March 13, 2023 08:45 AM (YIVH2)
++++
Yup.

This is not an age of heroes. The Congress will do nothing to escalate the conflict or attempt to resolve anything. They could - and should - cut off the money and hold firm, letting the chaos and probably widespread rioting and violence grow until the Executive blinks and signs the damn budget. They will not. They are all afraid. This is a time not of courage but of cowardice. So things will continue as they are until they can't any longer. "Can't" will not happen soon.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:47 AM (t0OGg)

214 So tired of this country(world) bailing out men who fuck up.

Posted by: sidney at March 13, 2023 08:47 AM (Uy/WF)

215
Signature Bank has been shut down to "prevent" collapse.

It was a favorite of cryptocurrency scammers.

Who knew banking and depositing literally nothing would lead to financial failure.

Apparently, we have entered...

The Retard Phase of Capitalism...Except, look here-

"These banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns,” Marcus said. “Instead of protecting the shareholders and their employees, they are more concerned about the social policies. And I think it’s probably a badly run bank.”

Excuse me, apparently we've blown straight through the Retard Phase of Capitalism and gone straight to

The Full Corticectomy Phase of Woke Fascism

without a stop.

I'm sure things will work out just fine.
yeah.

Posted by: naturalfake at March 13, 2023 08:48 AM (L1tQx)

216 So tired of this country(world) bailing out men who fuck up.

The president is best known for f*cking things up in the words of non-less then Lightbringer Obama.

The rot is everywhere

Posted by: 18-1 at March 13, 2023 08:48 AM (lc5cP)

217 214 So tired of this country(world) bailing out men who fuck up.
Posted by: sidney at March 13, 2023 08:47 AM (Uy/WF)

"He who is tired of London Breed is tired of living!"

- - Samuel Dyspeptic

Posted by: J.J. Sefton at March 13, 2023 08:49 AM (x0n13)

218 Kamala Harris denigrates herself every time she talks.

Posted by: dantesed at March 13, 2023 08:49 AM (88xKn)

219 This is a hybrid, Mitch. This is a cross, ah, of Bluegrass, Kentucky Bluegrass, Featherbed Bent, and Northern California Sensemilia. The amazing stuff about this is, that you can play 36 holes on it in the afternoon, take it home and just get stoned to the bejeezus-belt that night on this stuff.

Posted by: Phil McKrakington at March 13, 2023 08:49 AM (Jg7EG)

220 So lil Z did NOT win an oscar for his performance at the Oscars?

#Stolen
#UkrainiaSlava!

Posted by: 18-1 at March 13, 2023 08:50 AM (lc5cP)

221 Peak stupid is a guy who wins an Oscar, supposedly a career peak moment, defending drag shows.
____

Drag shows in general, while gross, are not the target of the normals, it is drag shows with children present that is the objection. But an honest debate is never allowed to happen.
Posted by: Chuck Martel at March 13, 2023 08:42 AM (fs1hN)

the interesting thing was, the way he said it, it was JUST about him dressing up alone. didn't even defend drag shows. and anyone with even the tiniest bit of awareness, ok so that excludes most people watching the show last night, will know that he's talking only about himself and not actual drag shows.

but then i have hope that people in general aren't as stupid as they continue to be...

Posted by: SturmToddler at March 13, 2023 08:50 AM (Mkvkw)

222 I hope it tanks at the Oscars."

*******

Dummy thinks Top Gun: Maverick is about armored vehicles rather than Naval aviators.

Posted by: Muldoon at March 13, 2023 08:50 AM (ykeLU)

223 IIRC, the FAA nominee was director of the Denver airport. You would think a little flying stuff would have rubbed off. Probably spent his short workdays making sure there were tranny rest rooms and checking the airport lounges for quality of beverage.

Posted by: bill in arkansas, not gonna comply with nuttin, waiting for the 0300 knock on the door at March 13, 2023 08:50 AM (lz5hY)

224 >>Peak stupid is a guy who wins an Oscar, supposedly a career peak moment, defending drag shows.

They can't help themselves. A room full of like-minded peers, the biggest annual celebration of themselves, and he's got the attention of so many in that moment.
He noted that he dressed in drag as a kid, so he's invested -- he's the weird kid who's just one big and he will take the moment to slap at the normies.

Posted by: Lizzy at March 13, 2023 08:52 AM (mqu1M)

225 Anyone suggesting China "is going to takeover the US" by some sort of sneak attack apparently doesn't realize the Chinese already overthrew the US government, owns or controls nearly every tech, social, infrastructure, academic, military, business, agriculture and monetary institution here.

Why attack what you own?

Posted by: Martini Farmer at March 13, 2023 08:53 AM (Q4IgG)

226 182 >> You want a dead son or an alive daughter? Powerful words to parents who are blindsided by their childs sudden, imperative need to transition.

This is the way of our so-called mental health professionals. Parent, this is your choice. Your child can be or do X, or your child will commit suicide. AND, we will also prescribe drugs that have a side effect of suicidal ideation.

It's blackmail of the worst kind. It isn't just gender dysphoria its anything that you are telling your child to do that they don't want to do. Stop doing drugs. Stop drinking. Do your homework. They call it harm, and they call you an abuser. It is YOUR fault.

I HATE these people.

Posted by: blaster at March 13, 2023 08:53 AM (pwExq)

227 >>IIRC, the FAA nominee was director of the Denver airport.

You mean the airport that managed to screw up a new baggage system so bad that it brought the airport to it's knees for months?

Posted by: JackStraw at March 13, 2023 08:53 AM (ZLI7S)

228 Thanks Marcus !

Posted by: JT at March 13, 2023 08:54 AM (T4tVD)

229 "Dear Conservatives: I'm Sorry I Believed So Many Media Lies"

We are too. Now GFY.
Posted by: fd at March 13, 2023 07:50 AM (iayUP)

Is that your response to someone like David Horowitz as well? Or Taibbi? RFK Jr. etc.?
Posted by: J.J. Sefton at March 13, 2023 07:52 AM (x0n13)

Yeah. Anybody gullible enough to fall for the media's BS gets the respect they deserve.
Posted by: fd at March 13, 2023 07:54 AM (iayUP)

The article is an outstanding read. While I respectfully disagree with the stance taken by fd, I can certainly understand why many would take that stance. I see Naomi Wolf as someone who is increasingly having scales removed from her eyes. We need more of that!

Posted by: Doof at March 13, 2023 08:55 AM (6uyrZ)

230 doesn't realize the Chinese already overthrew the US government, owns or controls nearly every tech, social, infrastructure, academic, military, business, agriculture and monetary institution here.

Remember when someone in the NBA offered a tepid criticism of China and we had a national debate as to whether he should be fired?

If you didn't realize China had already taken us over by that point you weren't paying attention.

Posted by: 18-1 at March 13, 2023 08:55 AM (lc5cP)

231 Mornin’, All.

Stupid time change hit me hard this morning.

Posted by: Bulgaroctonus at March 13, 2023 08:55 AM (ffbyg)

232 One sign of a competent manager would be if he prepared himself for the job interview (nomination hearing)
Posted by: Chuck Martel at March 13, 2023 08:47 AM (fs1hN)

Pretty sure this kind of thinking is white supremacy.

Posted by: blaster at March 13, 2023 08:55 AM (pwExq)

233 "How Biden's New Washing Machine Regulations Could Ruin Laundry Day
Manufacturers say government climate change initiative would make your washing cycles longer, clothes dirtier"

"When Cincinnati firefighter Ed Wallace bought a high efficiency Whirlpool washing machine, he came to regret the decision almost immediately. The machine used less water—not enough to clean Wallace's work clothes—and his colleagues at the firehouse quickly took notice. "I walked past my guys and they say, 'Dude, you stink!'" Wallace said. "I smelled myself, and yeah, that's me stinking."

Democrats and their policies make everything worse.
I got rid of my fancy HE front loader washing machine because it made everything smell like mildew.

Posted by: redridinghood at March 13, 2023 08:56 AM (NpAcC)

234 DEI, ESG and this Administrations woke policies have destroyed the safety and soundness of our banking system. They have ignored bad actors, focused on the wrong issues in their examinations, forced institutions to divert resources to unnecessary political fiats, put under-qualified people in key positions, used the enforcement system as a political weapon against their detractors and have fostered a general atmosphere of incompetence.

And don't believe them when they say the taxpayers isn't bailing them out. They are using accounting magic to make that claim. It's a lie.

Posted by: Marcus T at March 13, 2023 08:56 AM (SAX5G)

235 And then there's Michelle Yeoh, a Malaysian-born actress whose career started in Hong Kong action films standing there and acting as if America has been racist for not awarding women such as her before. Please tell me which white, American actors have been awarded in Hong Kong, Bollywood, etc..

I'll wait.

Posted by: Lizzy at March 13, 2023 08:56 AM (mqu1M)

236 Washington nomination for FAA, does it REALLY matter that the head of the FAA, or most organizations, doesn't know the minutia?

Maybe not, but would it have hurt him to a least TRY to prepare for a job interview like everyone else? That basic laziness communicates volumes.
Posted by: Halfhand at March 13, 2023 08:46 AM (iT0ZD)

oh yeah, not overlooking this point at all. and honestly, if he was competent, he could have done some basic understanding level research and MADE A POINT of the fact that

"senator, i don't know the specifics of that question beyond x,y, & z, but my job isn't to micro-manage each individual airport or plane, but to put in place and manage the people with the knowledge, experience, and talent to ensure that the United States has the safest and most pleasurable airspace in the world"

but then, he's not smart or competent or prepared and shouldn't be within 1000 yards of a govt office building...

Posted by: SturmToddler at March 13, 2023 08:57 AM (Mkvkw)

237 "Thanks Marcus !
Posted by: JT at March 13, 2023 08:54 AM (T4tVD)"

Amen. You're welcome.

Posted by: Marcus T at March 13, 2023 08:57 AM (SAX5G)

238 Redridinghood - yea my HE top loader does that. It's from the leftover water sitting inside the thing waiting for next week's load. You almost have to clean the thing with those dissolving tablets after you're done with the laundry so that next week the water in there isn't moldy.

Posted by: Jaimo at March 13, 2023 08:57 AM (DBrN4)

239 Extra cranky today.

I have an appointment this afternoon with my old beagle at the vet.

It will be his last appointment.

Posted by: blaster at March 13, 2023 08:57 AM (pwExq)

240 Naomi Wolf did not have to say anything. But she did. She has burned her rehabilitation bridges with the Left. Parse that as you will.

Posted by: tubal at March 13, 2023 08:58 AM (PCK5/)

241 NPR@NPR
#BREAKING: Michelle Yeoh wins the Oscar for best actress making history as the first person who identifies as Asian to win the award.

-
Breaking! Oriental identifies as Asian!

Posted by: Anonosaurus Wrecks, Is this the real life? Is this just fantasy? at March 13, 2023 08:58 AM (FVME7)

242 The first asian to win the award didn't identify as asian.

Posted by: Cat Ass Trophy at March 13, 2023 08:58 AM (c6mm0)

243 Oh Blaster, I'm sorry. Beagles are such sweet little animals.

Posted by: Jaimo at March 13, 2023 08:59 AM (DBrN4)

244 You mean the airport that managed to screw up a new baggage system so bad that it brought the airport to it's knees for months?
Posted by: JackStraw at March 13, 2023 08:53 AM (ZLI7S)
++++
In full fairness, that was *way* before he would have been involved, and it was mostly United Airlines' system. It didn't work and fixing it (replacing it) cost a fortune, but it wasn't just (or even majority) airport authority incompetence. Most of that was driven, designed and implemented by United.

Now the runways needing to be replaced almost immediately, *that* was 100% on the airport authority and various government incentives - but also well before this guy would have been involved.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 08:59 AM (t0OGg)

245 Well the student loan issues is one where the universities and bank need to take the haircut and absorb the losses. Then get all branches of government out of guaranteeing loans. From now on it's the bank and the universities via their endowment funds which finance students. If the banks and universities are so confident, gender studies and critical race provide students with the knowledge for the labour force, let them assume the risk.

Posted by: Xaver Basora at March 13, 2023 08:59 AM (HZCl6)

246 239 Extra cranky today.

I have an appointment this afternoon with my old beagle at the vet.

It will be his last appointment.
Posted by: blaster at March 13, 2023 08:57 AM (pwExq)

So sorry to hear that. They go so soon.

Posted by: tubal at March 13, 2023 09:00 AM (PCK5/)

247 >>The article is an outstanding read. While I respectfully disagree with the stance taken by fd, I can certainly understand why many would take that stance. I see Naomi Wolf as someone who is increasingly having scales removed from her eyes. We need more of that!

Seems to me that's the entire point. Until we are allowed to hunt our domestic opponents that best we can do is win them over with better ideas.

It might not be as satisfying but the more we can convince to move away from their failed ideology the better.

Posted by: JackStraw at March 13, 2023 09:00 AM (ZLI7S)

248 The washing machine mention reminded me, the Epoch times reports, that, right on the heels of the Biden administration making outlandish claims about gas stoves, there's a class action suite filed in CA against LG about their gas stoves.

Behold my lack of surprise.

Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:00 AM (2YtOq)

249 So sorry Blaster. Rough duty.

Posted by: Infidel at March 13, 2023 09:00 AM (tITEI)

250 Go ahead a defend "some" perverts by saying they are only talking about themselves, as if that is ever the case. Peak stupid is contagious I guess.

Posted by: Indignacio Vindacatorem at March 13, 2023 09:00 AM (4kL7R)

251 Washington nomination for FAA, does it REALLY matter that the head of the FAA, or most organizations, doesn't know the minutia?

It absolutely does matter. Unless the upper ranks of an entity are staffed with similar minded activists who are on a mission, the bureaucracy succumbs to inertia and sclerosis. Few have the authority to make big decisions, and don't want to be hung out to dry when a big decision goes wrong (eg East Palestine). When you have a political commissar installed as is the MO of the Biden junta, you don't get big ideas you get stupid shit like focusing on Muslim achievement (NASA) or pronoun enforcement.

Since so much of the FUSA economy is rooted in rent-seeking and government contracts, trade-shows and conferences with department representation happens frequently where private companies have Big Ideas but can't get past the line of bureaucrats who don't want to upset things as they approach pension age.

I have heard many times in the industries that I work in that they want to get the ear of "The Secretary" or chief administrator of such-n-such agency.

Posted by: Reuben Hick at March 13, 2023 09:00 AM (YXHzG)

252 "... resolve the crisis impacting thousands of promising US technology companies ..."

.. there was a story early last week that 82% of tech ventures were not going to receive their next round of funding

Posted by: Weird Al at March 13, 2023 09:00 AM (RHGPo)

253 >>You mean the airport that managed to screw up a new baggage system so bad that it brought the airport to it's knees for months?

Oh, don't get me started on all of DIA's failures, it is has been a f#$@-up from the get-go, and it continues to fail and new ways.

Posted by: Lizzy at March 13, 2023 09:00 AM (mqu1M)

254 Sorry to hear that, blaster.

Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:01 AM (2YtOq)

255 Then get all branches of government out of guaranteeing loans. From now on it's the bank and the universities via their endowment funds which finance students. If the banks and universities are so confident, gender studies and critical race provide students with the knowledge for the labour force, let them assume the risk.
Posted by: Xaver Basora at March 13, 2023 08:59 AM (HZCl6)

You make these recommendations like there is an interest in solving the problems.

The problems are the point.

Posted by: blaster at March 13, 2023 09:01 AM (pwExq)

256 I have an appointment this afternoon with my old beagle at the vet.

It will be his last appointment.

Posted by: blaster

--

Oh jeez. Sorry. We've got one and I constantly joke about him being more trouble than he's worth (and apparently "obstinate mischievous troublemaker" is the nature of the breed), but he's part of the family and I'll cry when that time comes.

Posted by: Were building codes changed after WTC7 collapsed into itself from burning office furniture? Why not at March 13, 2023 09:01 AM (9UP7H)

257 Don't ask yourself why children need to see drag shows, ask yourself why drag queens want an audience of children.

Posted by: rickb223 at March 13, 2023 09:02 AM (G8h7g)

258 Brandon is beginning to speak about SVB and the banking system.

Posted by: Gref at March 13, 2023 09:02 AM (AMIL/)

259 that sucks blaster, condolences.

Posted by: SturmToddler at March 13, 2023 09:02 AM (Mkvkw)

260 I feel sorry for the normal guys and gals out there that have to use credit cards to pay for their groceries because of bidenflation. I can't imagine having to carry a balance at 18-20% interest rates.

Posted by: Mister Scott (Formerly GWS) at March 13, 2023 09:02 AM (uNylN)

261 252 "... resolve the crisis impacting thousands of promising US technology companies ..."

.. there was a story early last week that 82% of tech ventures were not going to receive their next round of funding
Posted by: Weird Al at March 13, 2023 09:00 AM (RHGPo)

That seems plausible. A crash in public valuations(and this occurred in private valuations though not to the same degree) tends to decrease willingness to invest in tech, but I think this spigot has already been drying up for a year by this point.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:02 AM (eYoxG)

262 243 Oh Blaster, I'm sorry. Beagles are such sweet little animals.
Posted by: Jaimo at March 13, 2023 08:59 AM (DBrN4)

Whenever he went to the vet or stayed at the kennel, they always said he was so sweet. I mean, maybe they say that about every one of their clients.

But they always said it.

Posted by: blaster at March 13, 2023 09:02 AM (pwExq)

263 I have an appointment this afternoon with my old beagle at the vet.

It will be his last appointment.

Posted by: blaster

Sorry man. It sucks.

Posted by: rickb223 at March 13, 2023 09:02 AM (G8h7g)

264 >>>Democrats and their policies make everything worse.
I got rid of my fancy HE front loader washing machine because it made everything smell like mildew.

>After 5 years (warranty period) my 'new' washer malfunctioned, - level sensors first then door locking system seized up and the control board burned up. Was told with parts and labor it would be cheaper to buy a new one.

Posted by: Dr. Bone at March 13, 2023 09:03 AM (Jg7EG)

265 Godspeed, blaster's beagle...

Posted by: Muldoon at March 13, 2023 09:03 AM (ykeLU)

266 Extra cranky today.
I have an appointment this afternoon with my old beagle at the vet.

It will be his last appointment.
Posted by: blaster at March 13, 2023 08:57 AM (pwExq)
********
So, so sorry, blaster.

Posted by: redridinghood at March 13, 2023 09:03 AM (NpAcC)

267 If Brandon is speaking about the banking crisis, it's far worse than reported. There's no way the Deep State wants to put that stumbling shell of a human being on national tv to tell us "all is well."

Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:03 AM (2YtOq)

268 I guess Hunter has money in SVB.

Posted by: dantesed at March 13, 2023 09:04 AM (88xKn)

269 oh sorry blaster!

Posted by: BlackOrchid at March 13, 2023 09:04 AM (w0NJk)

270 The banking system is safe...

Remain calm! All is well! ALL IS WELL!!!

Posted by: andycanuck (Vwz3I) at March 13, 2023 09:04 AM (Vwz3I)

271 apparently "obstinate mischievous troublemaker" is the nature of the breed), but he's part of the family and I'll cry when that time comes.
Posted by: Were building codes changed after WTC7 collapsed into itself from burning office furniture? Why not at March 13, 2023 09:01 AM (9UP7H)

This is very true. Especially when it comes to figuring out how to get food.

Posted by: blaster at March 13, 2023 09:04 AM (pwExq)

272 Sorry to hear about your beagle, blaster.

Posted by: Bulgaroctonus at March 13, 2023 09:04 AM (ffbyg)

273 Nobody who tracks equities. Is surprised SVB went under. That is except the Fed and other regulators. If you can read a balance sheet and look at their securities portfolio, they were accumulating huge unrealized loses and a deposit outflows. Even an idiot knows that's no bueno and unsustainable.

Posted by: Marcus T at March 13, 2023 09:04 AM (SAX5G)

274 >>Go ahead a defend "some" perverts by saying they are only talking about themselves, as if that is ever the case. Peak stupid is contagious I guess.

Wasn't defending him, just noting how predictable it was: a$$holes gotta be a$$holes. There's always an insult from these weirdos, they always have to out themselves instead of accepting a win gracefully.

Posted by: Lizzy at March 13, 2023 09:04 AM (mqu1M)

275 Signature Bank has Barney Frank on its board.
The guy in "Dodd-Frank Act'

Posted by: Weird Al at March 13, 2023 09:05 AM (RHGPo)

276 VIX +35%.

We live in interesting times, AGAIN. Let's see if Biden can look as hapless and dumbstruck as W did in Sep 2008. Maybe Yellen can steal as much from this disaster as Hank Paulson did back then. I bet she can.

Posted by: Throw gp That Whammy at March 13, 2023 09:05 AM (MvF+J)

277 "I wonder if Biden can work gun control into a speech on bank runs?
Posted by: Aetius451AD"

I don't know about guns but I'm pretty sure depositors of color, who have suffered from the history institutional banking racism, have been hardest hist.

Posted by: Ripley at March 13, 2023 09:05 AM (cUYo/)

278 267 If Brandon is speaking about the banking crisis, it's far worse than reported. There's no way the Deep State wants to put that stumbling shell of a human being on national tv to tell us "all is well."
Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:03 AM (2YtOq)

Or they view it as something that'll turn into an easy win. Biden stopped the banking system from collapsing sort of thing, when it wasn't really in serious danger.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:05 AM (eYoxG)

279 That's how capitalism works!

[Unless they're too big to fail.]

Posted by: andycanuck (Vwz3I) at March 13, 2023 09:05 AM (Vwz3I)

280 Brandon looks very pale and very old this AM. More than usual.

Posted by: Gref at March 13, 2023 09:05 AM (AMIL/)

281 Biden -Everything is fine and it's all due to what a fantastic job he is doing.

Posted by: redridinghood at March 13, 2023 09:05 AM (NpAcC)

282 That seems plausible. A crash in public valuations(and this occurred in private valuations though not to the same degree) tends to decrease willingness to invest in tech, but I think this spigot has already been drying up for a year by this point.
Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:02 AM (eYoxG)
++++
The retrenching of VC has already begin. A lot of startups won't be getting their next rounds of funding. A lot more startups will never get the first round.

I strongly suspect that the tech recession is here. I'll want to see more data from established players (most of the major layoff activity in late Q4/early Q1 was correcting massive overextension and hiring binges during the COVID stupids, not major tech decline) first, though.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:06 AM (t0OGg)

283 Even an idiot knows that's no bueno and unsustainable.
Posted by: Marcus T at March 13, 2023 09:04 AM (SAX5G)
---------------

I'm sure the CEO selling her stock in SVB was completely unrelated to her knowing her bank was in trouble.

Do you have a bridge for sale, perchance?

Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:06 AM (2YtOq)

284 Whenever he went to the vet or stayed at the kennel, they always said he was so sweet. I mean, maybe they say that about every one of their clients.

But they always said it.

Posted by: blaster at March 13, 2023 09:02 AM

One vet we had did not say that about Black Dog Three, The last appoint she had before Dr. Eve died from cancer she looked our dog in the eye and said.....I remember you, you tried to bite me the last time you were here.

Posted by: Mister Scott (Formerly GWS) at March 13, 2023 09:06 AM (uNylN)

285 Or they view it as something that'll turn into an easy win. Biden stopped the banking system from collapsing sort of thing, when it wasn't really in serious danger.
Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:05 AM (eYoxG)
--------------

I'd be okay with that. However, the Junta has a track record of trotting out Biden to tell us everything is okay, only to have things get worse.

Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:07 AM (2YtOq)

286 After 5 years (warranty period) my 'new' washer malfunctioned, - level sensors first then door locking system seized up and the control board burned up. Was told with parts and labor it would be cheaper to buy a new one.
Posted by: Dr. Bone at March 13, 2023 09:03 AM (Jg7EG)
*******
Same thing was told to me.
They are all made now to only last 5 yrs.

Posted by: redridinghood at March 13, 2023 09:07 AM (NpAcC)

287 275 Signature Bank has Barney Frank on its board.
The guy in "Dodd-Frank Act'
Posted by: Weird Al at March 13, 2023 09:05 AM (RHGPo)

Dodd-Frank killed new bank formation, which in turn meant that small and medium sized banking died out, which lead to a dramatic increase in the size of the private debt business.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:07 AM (eYoxG)

288 When you let a transitioning Quaker Oats salesman run your Economy, shit happens.

Posted by: garrett at March 13, 2023 09:07 AM (WBbJZ)

289 I wonder if Biden can work gun control into a speech on bank runs?
Posted by: Aetius451AD Work Laptop at March 13, 2023 08:01 AM (zZu0s)
-

"THIS IS A STICKUP!" - Joe Biden.

Posted by: Biden's Dog sniffs a whole lotta malarkey, at March 13, 2023 09:08 AM (Rl3IJ)

290 >> have an appointment this afternoon with my old beagle at the vet. It will be his last appointment.

Condolences, blaster, so hard to lose a beloved pet!

Posted by: Lizzy at March 13, 2023 09:08 AM (mqu1M)

291 281 Biden -Everything is fine and it's all due to what a fantastic job he is doing.

.. except this bank thing .. which is Trump's fault.

Posted by: Weird Al at March 13, 2023 09:09 AM (RHGPo)

292 That's how capitalism works!
[Unless they're too big to fail.]
Posted by: andycanuck (Vwz3I) at March 13, 2023 09:05 AM (Vwz3I)
++++
Everyone has forgotten the genesis of that term. "Too big to fail" is an FDIC term. When the FDIC intervenes and sends a bank into receivership, they "fail" the institution. There were in the 80s some banks that ran into trouble that the FDIC feared were too big for them to "fail" the banks successfully.

"Too big too fail" is "too big to function safely." This is one thing Elizabeth Warren was correct about. The FDIC should have, 35 years ago or more, held firm on insurance limits and not become a de facto bond issuer. But they didn't.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:09 AM (t0OGg)

293 When you let a transitioning Quaker Oats salesman run your Economy, shit happens.
Posted by: garrett at March 13, 2023 09:07 AM (WBbJZ)
-

Let's go, Bran-dumb!

Posted by: Biden's Dog sniffs a whole lotta malarkey, at March 13, 2023 09:09 AM (Rl3IJ)

294 *de facto bond insurer

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:09 AM (t0OGg)

295 Sucks about blaster-beagle. Sorry, my friend.

Posted by: Doof at March 13, 2023 09:09 AM (6uyrZ)

296 Biden -Everything is fine and it's all due to what a fantastic job he is doing.
Posted by: redridinghood at March 13, 2023 09:05 AM (NpAcC)
--
And it's all Trump's fault.

Posted by: "Perfessor" Squirrel at March 13, 2023 09:10 AM (YIVH2)

297 I strongly suspect that the tech recession is here. I'll want to see more data from established players (most of the major layoff activity in late Q4/early Q1 was correcting massive overextension and hiring binges during the COVID stupids, not major tech decline) first, though.
Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:06 AM (t0OGg)

A little over a year ago Federal funds rate was .25%. Now it's almost 5%.

That is going to affect things.

Posted by: blaster at March 13, 2023 09:10 AM (pwExq)

298 Brandon looks very pale and very old this AM. More than usual.
Posted by: Gref at March 13, 2023 09:05 AM (AMIL/)

***

It's tough to get the correct dosage of meth into someone before 10am

Posted by: Truck Monkey Report at March 13, 2023 09:10 AM (flINI)

299 1m ago-
Biden defends stability of US banking system after Silicon Valley Bank’s stunning collapse

https://tinyurl.com/56fkntkj

Posted by: redridinghood at March 13, 2023 09:10 AM (NpAcC)

300
I'd be okay with that. However, the Junta has a track record of trotting out Biden to tell us everything is okay, only to have things get worse.

Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:07 AM (2YtOq)

Brandon said, "We'll do whatever it takes." He left me uncertain what banks or depositors he promises to take care of in the near future. Of course he did.

Posted by: Gref at March 13, 2023 09:10 AM (AMIL/)

301 And with what are we going to bail out banks and depositors? We are $30 trillion on debt and have been bailing out the country from covid student loans, bad mortgages and every other stupidity and bad decision and policy imaginable, not to mention Ukraine and the forever wars. But go ahead an do it, just another straw on the camels back.

Posted by: Ripley at March 13, 2023 09:10 AM (cUYo/)

302 "And it's all Trump's fault."

https://fred.stlouisfed.org/series/M1SL

Posted by: Throw gp That Whammy at March 13, 2023 09:10 AM (MvF+J)

303 The retrenching of VC has already begin. A lot of startups won't be getting their next rounds of funding. A lot more startups will never get the first round.

I strongly suspect that the tech recession is here. I'll want to see more data from established players (most of the major layoff activity in late Q4/early Q1 was correcting massive overextension and hiring binges during the COVID stupids, not major tech decline) first, though.
Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:06 AM (t0OGg)

So far I've tended to argue the tech recession started in the first 2 quarters of last year and we're in the tail end of things. That's when VC funds started having trouble raising money and we had negative gdp. Iirc some of the unemployment stuff tends to lag.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:11 AM (eYoxG)

304 Brain Dead Fed. Who in their right mind thought Yellin was someone you wanted handling your money. She may be more deadly than Fauci.

Posted by: Pudinhead at March 13, 2023 09:11 AM (6uV63)

305 Marcus T. - no one? Jim Kramer. Heh.

Posted by: Tom Servo at March 13, 2023 09:11 AM (r46W7)

306 298 Brandon looks very pale and very old this AM. More than usual.
Posted by: Gref at March 13, 2023 09:05 AM (AMIL/)

***

It's tough to get the correct dosage of meth into someone before 10am

Posted by: Truck Monkey Report at March 13, 2023 09:10 AM (flINI)

Daylight Savings Time is not Drugged-Up Joe's friend.

Posted by: Gref at March 13, 2023 09:11 AM (AMIL/)

307 And the Fed obfuscated the meaning of "systemically important" which has real statutory meaning, to do what they are doing right now.

Posted by: Marcus T at March 13, 2023 09:12 AM (SAX5G)

308 Looks like we are approaching the suddenly phase of the collapse.

Posted by: Thomas Bender at March 13, 2023 09:12 AM (y8+A5)

309 I wonder if Biden can work gun control into a speech on bank runs?

*******

Without breaking a sweat =>

"Speaking of failure, you know what else failed? My son Beau's heart, when he died in a hail of gunfire from assault weapons in Iraq..."

Posted by: Muldoon at March 13, 2023 09:12 AM (ykeLU)

310 >>BWAHAHAHAHAH. All this was known and documented years ago by Peter Schweizer. *crickets*

Saw a short clip of Rep Comer who was apparently on with Maria Shouty yesterday. He's running the Oversight hearing of the Biden crime family.

He claims they have had testimony from 4 former business partners of the Biden's or their lawyers laying out how the money was sent from the CCP including bank records and this week they are getting testimony from the CCP affiliated woman Hunter put in charge of reviewing the documents Joe took illegally during his time in the Senate and White House.

Sounds like the rats are jumping ship and another whacky rightwing conspiracy theory is morphing into fact.

Posted by: JackStraw at March 13, 2023 09:12 AM (ZLI7S)

311 They can print $100B to give to Ukraine so no reason why they can't just cover all the SVB depositors.

And they can just pay for it by taxing all the billionaires.

Posted by: blaster at March 13, 2023 09:12 AM (pwExq)

312 Lose ALL the monies you want. We'll print more!

Posted by: The Fed at March 13, 2023 09:12 AM (WBbJZ)

313 Yellen was giving speeches about abortion and DEI. Meanwhile, the US banking system is burning down.

Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:13 AM (2YtOq)

314 "Marcus T. - no one? Jim Kramer. Heh.
Posted by: Tom Servo at March 13, 2023 09:11 AM (r46W7)"

I met him a few times. He's an idiot I wouldn't trust to feed my goldfish. After his Lehman call people should know better.

Posted by: Marcus T at March 13, 2023 09:13 AM (SAX5G)

315 Sounds like the rats are jumping ship and another whacky rightwing conspiracy theory is morphing into fact.
Posted by: JackStraw at March 13, 2023 09:12 AM (ZLI7S)

With exactly the same amount of accountability, to boot!

Posted by: blaster at March 13, 2023 09:13 AM (pwExq)

316 Good morning everyone. Thank you J.J.

Verse for the Day:

"Who among you is wise and understanding? Let him show his works by a good life in the humility that comes from wisdom."

–James 3:13

Posted by: Tonypete at March 13, 2023 09:13 AM (qoGsy)

317 Wow, did no one at SVB ever think with Goldman Sachs firing 3,000 Investment Bankers that shit in Tech Cartoon World was going to be thin pickings? Best anf Brightest bite America in the ass. I ain't bailing these fucks out. Fuck them and Silicon Valley.

Posted by: Pudinhead at March 13, 2023 09:13 AM (6uV63)

318 zerohedge @zerohedge · 6m
*BIDEN SAYS HE WILL SEEK STRONGER REGULATIONS FOR BANKS

He means for the one remaining bank, JPMega

zerohedge @zerohedge · 8m
*BIDEN SAYS PEOPLE RUNNING TROUBLED BANKS SHOULD BE FIRED

Even the diversity hires?

zerohedge @zerohedge · 10m
Biden: "Our actions should give Americans confidence that the US banking system is safe"

Narrator: They didn't

Posted by: andycanuck (Vwz3I) at March 13, 2023 09:14 AM (Vwz3I)

319 313 Yellen was giving speeches about abortion and DEI. Meanwhile, the US banking system is burning down.
Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:13 AM (2YtOq)

Yes. That's the point of it.

Posted by: blaster at March 13, 2023 09:14 AM (pwExq)

320 Senior management at SVB better get familiar with the term "claw back".

Posted by: Marcus T at March 13, 2023 09:14 AM (SAX5G)

321 “ If there are o dogs in Heaven, I want to be where they are”… Will Rogers. ( I am opting for there ARE dogs in Heaven).

Posted by: tubal at March 13, 2023 09:14 AM (PCK5/)

322 I wonder if Biden can work gun control into a speech on bank runs?
Posted by: Aetius451AD Work Laptop at March 13, 2023 08:01 AM (zZu0s)
-

"THIS IS A STICKUP!" - Joe Biden.
Posted by: Biden's Dog sniffs a whole lotta malarkey, at March 13, 2023 09:08 AM (Rl3IJ)

Joe "Eazy-E" Biden can just recite the lyrics to NOBODY MOVE!

Posted by: Doof at March 13, 2023 09:14 AM (6uyrZ)

323 >>Brain Dead Fed. Who in their right mind thought Yellin was someone you wanted handling your money.

She looks like a lesbian. That seems to be her number one credential.

Posted by: garrett at March 13, 2023 09:14 AM (WBbJZ)

324 Yellen was giving speeches about abortion and DEI. Meanwhile, the US banking system is burning down.
Posted by: blake - semi lurker in marginal standing(2YtOq) at March 13, 2023 09:13 AM (2YtOq)

And biden just was on TV bragging about the economy and lying his senile ass off with that phoney stats

Posted by: Nevergiveup at March 13, 2023 09:14 AM (dO/0d)

325 Bond markets took such a hit because interest rates keep rising.

I've lost a lot of money.

FU Biden

Posted by: redridinghood at March 13, 2023 09:14 AM (NpAcC)

326 They can print $100B to give to Ukraine so no reason why they can't just cover all the SVB depositors.

And they can just pay for it by taxing all the billionaires.
Posted by: blaster at March 13, 2023 09:12 AM (pwExq)
-

I posted this in the ONT comments:

https://tinyurl.com/262fnfv5

(Nitter)

Posted by: Biden's Dog sniffs a whole lotta malarkey, at March 13, 2023 09:15 AM (Rl3IJ)

327 Sorry about Blaster Beagle. I like dogs a hell of a lot more than I like people so I know how tough it is to lose them. Not every dog is well behaved though. I've been kindly asked not to send one of my Newfies back to the groomer because she was such a pain in the ass.

Posted by: Truck Monkey Report at March 13, 2023 09:15 AM (flINI)

328 It absolutely does matter. Unless the upper ranks of an entity are staffed with similar minded activists who are on a mission, the bureaucracy succumbs to inertia and sclerosis. Few have the authority to make big decisions, and don't want to be hung out to dry when a big decision goes wrong (eg East Palestine).

I have heard many times in the industries that I work in that they want to get the ear of "The Secretary" or chief administrator of such-n-such agency.
Posted by: Reuben Hick at March 13, 2023 09:00 AM (YXHzG)

Reuben, and what you listed is why i said if he was a competent and good manger able to put the correct people in the correct positions then i wouldn't have an issue with not knowing the minutia.

but 1. federal appointment; b. biden appointment; III. diversity reward appointment; so I'm 100% sure your scenario is the most likely in the extreme to happen.

Posted by: SturmToddler at March 13, 2023 09:15 AM (Mkvkw)

329 I'm looking forward to KJP explain the technical details and the regimes response to the SVP collapse. That is going to be comedy gold.

Posted by: Ripley at March 13, 2023 09:15 AM (cUYo/)

330 Biden said that it will all be paid for out of the FDIC deposit insurance fund -- no taxpayer money.

But SVB wasn't paying insurance premiums on 97% of its deposits. In effect, other banks are getting taxed here and I don't understand how the FDIC can do this legally.

Posted by: Ignoramus at March 13, 2023 09:16 AM (RqMSv)

331 The Robinhood kids could have struck a far deadlier blow by causing a cash run on a bank.

Posted by: People's Hippo Voice at March 13, 2023 09:16 AM (XuB58)

332 A little over a year ago Federal funds rate was .25%. Now it's almost 5%.

That is going to affect things.
Posted by: blaster at March 13, 2023 09:10 AM (pwExq)
+++
Oh yes, and will do so across the economy. A lot of zombie firms in lots of industries cannot survive without the interest rate ratchet moving down consistently. Huge numbers of firms are toast.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:16 AM (t0OGg)

333 If you want to go after the left, the one place to do it is where they are terrified you'll go. And that is Operation Fast and Furious. Why are they terrified? Its an easy to prove case that has a death penalty for everyone involved. F and F was not a 'sting' gone bad, it was an illegal gun control operation that resulted in the death of a federal agent, felony murder for everyone involved.

What is the proof it wasn't a sting? For something to be a sting, the bad guys can't know its a sting. Real Chicom full auto AK-47s are available to the Cartels for about $75, and come in with no risk over the drug smuggling lines. The Cartels aren't going to buy semi-auto AKs here for $300 - $500. The money for the F and F guns came from the US Gov. The reason I say the left is worried about F and F, is that like 1930's gangsters, they found a fall guy to blame every thing on: Assistant AG Lanny Breuer, who was doubtless amazed to learn the whole thing was his idea.

Posted by: An Observation sez China Joe not my president at March 13, 2023 09:16 AM (CecP5)

334 1. Depositors money is safe. I'll just turn on this here printing machine.

2. The economy is strong. I'll just turn on this here printing machine.

3. It's all Trump's fault. I'll just turn on this here printing machine.

Things Joey-Sponge-Shits-Pants will say.

Posted by: Archer at March 13, 2023 09:17 AM (gmo/4)

335 Do you know why they call it Daylight Savings Time?

Because Transfer of One Hour of Daylight from the Beginning of the Day to the End of the Day by Manipulating the Clocks Twice a Year Without Actually Changing the Amount of Daylight Time was too wordy.

Posted by: Muldoon at March 13, 2023 09:17 AM (ykeLU)

336 Best anf Brightest bite America in the ass. I ain't bailing these fucks out. Fuck them and Silicon Valley.
Posted by: Pudinhead

Well see, that's the thing. We don't get to choose whom we bail out. It's all decided for us.

And usually the folks chosen to receive the largess are those whom we would never bail out.

Funny it works out that way, innit?

Posted by: Tonypete at March 13, 2023 09:17 AM (qoGsy)

337 The short version is SVB loaded up their securities portfolio with HTM that we're losing money. So They categorized those loses as "unrealized". Simultaneously their sources of cash were decreasing. Not a single regulator called them on it. Not one. Let that sink in because most people on the street knew it.

Posted by: Marcus T at March 13, 2023 09:17 AM (SAX5G)

338 The Feds pumped trillions of dollars into the economy from 08-20 with almost no interest. Then Joey spends another couple of trillion. All this money sloshing around is bound to cause lax regulation and compliance (SVB) as well as our and out fraud (SBX) . More and more of these implosions are going to occur all for slightly different reasons, but with the same roots

Posted by: Smell the Glove at March 13, 2023 09:18 AM (ZPsfc)

339 NYC ICE office ‘fully booked’ for migrant appointments through late 2032:

https://tinyurl.com/3xkms48p

Posted by: redridinghood at March 13, 2023 09:18 AM (NpAcC)

340 >>"West Virginia leads the nation in the amount of transgender teens they have per capita, according to a 2017 study by The Williams Institute."

How is it ranked for fentanyl deaths?

Posted by: Lizzy at March 13, 2023 09:18 AM (mqu1M)

341 So far I've tended to argue the tech recession started in the first 2 quarters of last year and we're in the tail end of things. That's when VC funds started having trouble raising money and we had negative gdp. Iirc some of the unemployment stuff tends to lag.
Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:11 AM (eYoxG)
++++
It's bifurcated. Startup activity (where VCs are involved) set the stage for 3-7 years down the road. That is already declining. The established players, though, keep on keeping on and often see growth - and therefore the sector as a whole can grow - even during declines among new firms.

I agree that Tech Startup is already in a recession. I am not sure the tech sector as a whole is, yet. I think it is probably going to happen, though. We'll see as the Q1 results come in and take a look at employment in its wake.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:18 AM (t0OGg)

342 NYC ICE office ‘fully booked’ for migrant appointments through late 2032:

https://tinyurl.com/3xkms48p
Posted by: redridinghood at March 13, 2023 09:18 AM (NpAcC)
-

That's a lotta free phones!

Posted by: Biden's Dog sniffs a whole lotta malarkey, at March 13, 2023 09:19 AM (Rl3IJ)

343 She looks like a lesbian. That seems to be her number one credential.
Posted by: garrett

In this administration, that's enough to be hired.

Posted by: Tonypete at March 13, 2023 09:19 AM (qoGsy)

344 Volcker raised interest rates in response to inflation under Reagan. Heroes!

Yellen raised interest rates in response to inflation under Biden. Idiots!

Posted by: Throw gp That Whammy at March 13, 2023 09:20 AM (MvF+J)

345 No matter what the explanations for these failures are the one thing that will happen is that media will overhype it all to raise their ratings and blame Republicans. They will make the banking unease much, much worse than it is like they do daily with very minor happenings. I don't know how bad these failures are and neither do they. I do know they won't help to ease people's fears and concerns.

Posted by: neverenoughcaffeine at March 13, 2023 09:20 AM (2NHgQ)

346 If you see a CA license plate in your state, run them off the road, make their filth stay in the place that just got bailed out again. Don't let them spread.

Posted by: UwU_Power at March 13, 2023 09:20 AM (6oBTu)

347 The short version is SVB loaded up their securities portfolio with HTM that we're losing money. So They categorized those loses as "unrealized". Simultaneously their sources of cash were decreasing. Not a single regulator called them on it. Not one. Let that sink in because most people on the street knew it.
Posted by: Marcus T

Hence the censoring on social media.

Posted by: Mr Aspirin Factory at March 13, 2023 09:21 AM (y/a4v)

348 Straining Credulity, Dr. Fauci Asserts Covid Lab Leak Could Still be Considered a ‘Natural Occurrence’

Posted by: Weird Al at March 13, 2023 09:21 AM (RHGPo)

349 She looks like a lesbian. That seems to be her number one credential.
Posted by: garrett

In this administration, that's enough to be hired.
Posted by: Tonypete at March 13, 2023 09:19 AM (qoGsy)

***

well they do lick the right box...

Posted by: Truck Monkey Report at March 13, 2023 09:21 AM (flINI)

350 The one question I have is the $20B in Treasuries that SVB was carrying is were these forced on SVB when Biden grew the money supply on Day 1 of his administration. Exploding the money supply while doubling the cost of energy is where this shit started.

Posted by: Pudinhead at March 13, 2023 09:21 AM (6uV63)

351 >>Volcker raised interest rates in response to inflation under Reagan. Heroes!

>>Yellen raised interest rates in response to inflation under Biden. Idiots!

Too bad interest rates don't exist in a vacuum. Otherwise, this might be a cogent sentiment.

Posted by: garrett at March 13, 2023 09:22 AM (WBbJZ)

352 Biden said that it will all be paid for out of the FDIC deposit insurance fund -- no taxpayer money.

But SVB wasn't paying insurance premiums on 97% of its deposits. In effect, other banks are getting taxed here and I don't understand how the FDIC can do this legally.

Posted by: Ignoramus at March 13, 2023 09:16 AM (RqMSv)

-----------

It's a post - post - post - post - post - post - post - post - post - post -~~modern~~ - legal society.

Posted by: ShainS -- The Abolition of The West is from Men Without Chests at March 13, 2023 09:22 AM (wsx8x)

353 The short version is SVB loaded up their securities portfolio with HTM that we're losing money. So They categorized those loses as "unrealized". Simultaneously their sources of cash were decreasing. Not a single regulator called them on it. Not one. Let that sink in because most people on the street knew it.
Posted by: Marcus T at March 13, 2023 09:17 AM (SAX5G)
++++
As usual, the FDIC - the chief regulator - played "hear no evil, see no evil, speak no evil" games. They do this all the time, and have been doing so for decades.

In the wake of the ongoing S&L crisis, this was identified as a tremendous problem and major risk and so the FDIC was reformed to pivot to "Prompt Corrective Action." PCA was supposed to result in closer monitoring and faster intervention when bank balance sheets started going pear-shaped to prevent large deposit losses and chaotic collapses. It is actually a decent regulatory framework, but the FDIC doesn't use it. FDIC is not as bad as it was in the early-mid Aughts, but it isn't doing a bang-up job.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:23 AM (t0OGg)

354 This may impact Gavin Newsom's presidential aspirations.

Posted by: Pudinhead at March 13, 2023 09:23 AM (6uV63)

355 It's bifurcated. Startup activity (where VCs are involved) set the stage for 3-7 years down the road. That is already declining. The established players, though, keep on keeping on and often see growth - and therefore the sector as a whole can grow - even during declines among new firms.

I agree that Tech Startup is already in a recession. I am not sure the tech sector as a whole is, yet. I think it is probably going to happen, though. We'll see as the Q1 results come in and take a look at employment in its wake.
Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:18 AM (t0OGg)

The real big players in tech tend not to be terribly fussed by economic downturns, it's not like people stop using Microsoft Office. They might trim some useless staff but the core business is fine.

My view is that a tech recession, like the dot com bubble bursting, it when all these faddish but low economic value companies collapse due to lack of additional funding. Which in this case is partially due to high interest rates making them look like worse of a bet than they already were.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:23 AM (eYoxG)

356 344 Volcker raised interest rates in response to inflation under Reagan. Heroes!

Yellen raised interest rates in response to inflation under Biden. Idiots!
Posted by: Throw gp That Whammy at March 13, 2023 09:20 AM (MvF+J)

I seem to recall a massive economic boom between 1983 and 1992.

Even bigger boom between 2017 and 2019.

And inflation in both periods was nowhere near what it is today. Something's different. Hmm...

Posted by: J.J. Sefton at March 13, 2023 09:23 AM (x0n13)

357 On this day in history, March 13, 1942, US Army K-9 Corps begins training dogs to fight in World War II

https://tinyurl.com/26rw35tc

Posted by: redridinghood at March 13, 2023 09:24 AM (NpAcC)

358 Volcker raised interest rates in response to inflation under Reagan. Heroes!

Yellen raised interest rates in response to inflation under Biden. Idiots!
Posted by: Throw gp That Whammy at March 13, 2023 09:20 AM (MvF+J)
++++
Not exactly. Volcker was derided at the time, and so was Reagan. The "Reagan Recession" was real and very painful and a lot of people lost their shirts in the process of correcting the inflation problem. He didn't become "Tall Paul" until later, in retrospect.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:24 AM (t0OGg)

359 >>Biden said that it will all be paid for out of the FDIC deposit insurance fund -- no taxpayer money.

I guess the banks will just get the extra money they use to fund the FDIC insurance fund from their money trees.

Posted by: JackStraw at March 13, 2023 09:24 AM (ZLI7S)

360 "West Virginia leads the nation in the amount of transgender teens they have per capita

********

Which do you want, a dead son or a coal miner's daughter?

/W.Va. Psychiatric Society

Posted by: Muldoon at March 13, 2023 09:24 AM (ykeLU)

361 I strongly suspect that the tech recession is here. I'll want to see more data from established players (most of the major layoff activity in late Q4/early Q1 was correcting massive overextension and hiring binges during the COVID stupids, not major tech decline) first, though.
Posted by: Joe Mannix

---

(looks at tech stocks that have been down for two years and counting, with all of them combined worth what one fairly small position was worth when Trump was in office)

Posted by: Were building codes changed after WTC7 collapsed into itself from burning office furniture? Why not at March 13, 2023 09:25 AM (9UP7H)

362 348 Straining Credulity, Dr. Fauci Asserts Covid Lab Leak Could Still be Considered a ‘Natural Occurrence’
Posted by: Weird Al at March 13, 2023 09:21 AM (RHGPo)

Evil is a natural occurrence as well, I guess.

Posted by: J.J. Sefton at March 13, 2023 09:25 AM (x0n13)

363 Do you mean Powell??

Posted by: andycanuck (Vwz3I) at March 13, 2023 09:25 AM (Vwz3I)

364 Straining Credulity, Dr. Fauci Asserts Covid Lab Leak Could Still be Considered a ‘Natural Occurrence’

Posted by: Weird Al at March 13, 2023 09:21 AM (RHGPo))

--------

LOL. I hyperbolically predicted this would be the next goalposts-moving-position phase last week in response to a Bitter Clinger comment.

I wonder if the Babylon Bee is hiring?

Posted by: ShainS -- The Abolition of The West is from Men Without Chests at March 13, 2023 09:26 AM (wsx8x)

365 "Too bad interest rates don't exist in a vacuum."

Yes, the first day of economics class, the prof yelled "ceteris paribus," letting us all know that nobody can draw valid conclusions from anything that actually happens.

Meanwhile, here it is again, guys. The quadrupling of the M1 money supply in 2020, when DJT was in charge:

https://fred.stlouisfed.org/series/M1SL

Keep ignoring that fucking chart.

Posted by: Throw gp That Whammy at March 13, 2023 09:26 AM (MvF+J)

366 361 (looks at tech stocks that have been down for two years and counting, with all of them combined worth what one fairly small position was worth when Trump was in office)
Posted by: Were building codes changed after WTC7 collapsed into itself from burning office furniture? Why not at March 13, 2023 09:25 AM (9UP7H)

=========

"Worth it."
-The C-suite class

Posted by: TheJamesMadison, watching some more Best Pictures at March 13, 2023 09:26 AM (LvTSG)

367 358 Volcker raised interest rates in response to inflation under Reagan. Heroes!

Yellen raised interest rates in response to inflation under Biden. Idiots!
Posted by: Throw gp That Whammy at March 13, 2023 09:20 AM (MvF+J)
++++
Not exactly. Volcker was derided at the time, and so was Reagan. The "Reagan Recession" was real and very painful and a lot of people lost their shirts in the process of correcting the inflation problem. He didn't become "Tall Paul" until later, in retrospect.
Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:24 AM (t0OGg)

The pain from these higher rates was predictable and predicted, but rates do need to go up. Low rates were creating massive distortions in the economy with many low return projects being taken and leveraged up.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:26 AM (eYoxG)

368 My view is that a tech recession, like the dot com bubble bursting, it when all these faddish but low economic value companies collapse due to lack of additional funding. Which in this case is partially due to high interest rates making them look like worse of a bet than they already were.
Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:23 AM (eYoxG)
++++
That's a fair view. The sector is not dominated by startups, so I tend to look a bit higher in the stack. And Big Tech will get smaller (big layoffs, less R&D investment) but it's Middle Tech and Small Tech that will get skull-fucked when a tech recession hits in a big way. Tiny Tech - the startups - are already getting blown out as VC money dries up.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:26 AM (t0OGg)

369 "West Virginia leads the nation in the amount of transgender teens they have per capita

********

Which do you want, a dead son or a coal miner's daughter?

/W.Va. Psychiatric Society
Posted by: Muldoon at March 13, 2023 09:24 AM (ykeLU)

well, can she sing pretty?

Posted by: SturmToddler at March 13, 2023 09:26 AM (Mkvkw)

370 Even worse. The portfolio of securities held by financial institutions should be carefully watched by examiners. That's because you have to maintain a good balance/type for various statutory ratios and regulatory compliance. Depending on your overall balance sheet activity you are also forced to hold certain types of securities, especially UST. That is, this is 101 in predicting solvency and health of an FI. This is inexcusable incompetence.

Posted by: Marcus T at March 13, 2023 09:26 AM (SAX5G)

371 365
Keep ignoring that fucking chart.
Posted by: Throw gp That Whammy at March 13, 2023 09:26 AM (MvF+J)

QE1, 2 and 3 happened prior to 2017.

Posted by: J.J. Sefton at March 13, 2023 09:27 AM (x0n13)

372 "West Virginia leads the nation in the amount of transgender teens they have per capita"

********
That should be number, not amount.

Yes, I'm being pedantic, but this drives me nuts.

Posted by: Zombie Robbo the Llama Butcher at March 13, 2023 09:27 AM (BTgKJ)

373 Oh yes, and will do so across the economy. A lot of zombie firms in lots of industries cannot survive without the interest rate ratchet moving down consistently. Huge numbers of firms are toast.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:16 AM

Tons of people thought the free money of QE to infinity and beyond, coupled with zero interest rates were going to last forever because they bought into the modern monetary theory and were convinced they found a way to not have to actually pay for everything. Turns out they were wrong. Sucks to be us.

Posted by: Mister Scott (Formerly GWS) at March 13, 2023 09:27 AM (uNylN)

374 Over the past few weeks, more reports from US government sources indicate the source of the novel coronavirus that is responsible for the covid pandemic is a laboratory from China’s Wuhan Institute of Virology.

I recently noted that Dr. Anthony Fauci, the now-retired coronavirus advisor to the White House, commissioned and had final approval on a scientific paper written in February 2020 designed to disprove this theory.

Evidence that he now realizes this plan has wholly gone awry comes in the form of an interview with CNN’s Jim Acosta, during which Fauci argued the pandemic could be considered a “natural occurrence” if the definition of lab leak meant that someone was infected in the wild and went “into a lab,” was studied in a lab, and then “came out of the lab.”

Posted by: Weird Al at March 13, 2023 09:27 AM (RHGPo)

375 Reposting this as it explains the mess at SVB and indicates this will be resolved with just the investors losing money.

https://youtu.be/LOTFAXaFrvc

Posted by: Notsothoreau at March 13, 2023 09:27 AM (6lj/r)

376 365 Keep ignoring that fucking chart.
Posted by: Throw gp That Whammy at March 13, 2023 09:26 AM (MvF+J)

==========

Trump had his hand in this.

However, the Fed is "independent", and Biden signed onto much more spending once he was in office. This inflation problem is much, much bigger than Trump bending to political reality and signing checks to Americans in the middle of every state in the union (save one) shutting down their economies.

Posted by: TheJamesMadison, watching some more Best Pictures at March 13, 2023 09:27 AM (LvTSG)

377

Art is up.

Posted by: J.J. Sefton at March 13, 2023 09:28 AM (x0n13)

378 The pain from these higher rates was predictable and predicted, but rates do need to go up. Low rates were creating massive distortions in the economy with many low return projects being taken and leveraged up.
Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:26 AM (eYoxG)
++++
Oh yes. I did not intend to indicate otherwise. I've been calling for higher interest rates for *years.* The Fed's interest rate repression since 9/11 and especially since the financial crisis has been devastating and now they're losing control of it. Rates have to keep climbing.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:28 AM (t0OGg)

379 "Not exactly. Volcker was derided at the time, and so was Reagan."

So Yellen and Biden are destined eventually to be seen as hero inflation fighters?

Posted by: Throw gp That Whammy at March 13, 2023 09:29 AM (MvF+J)

380 365 "Too bad interest rates don't exist in a vacuum."

Yes, the first day of economics class, the prof yelled "ceteris paribus," letting us all know that nobody can draw valid conclusions from anything that actually happens.

Meanwhile, here it is again, guys. The quadrupling of the M1 money supply in 2020, when DJT was in charge:

https://fred.stlouisfed.org/series/M1SL

Keep ignoring that fucking chart.
Posted by: Throw gp That Whammy at March 13, 2023 09:26 AM (MvF+J)

Mostly we use M2 as the practical money supply increase wasn't that large.

Sure the chart is interesting from an academic perspective, but no monetary pressure didn't change that much.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:29 AM (eYoxG)

381 Evidence that he now realizes this plan has wholly gone awry comes in the form of an interview with CNN’s Jim Acosta, during which Fauci argued the pandemic could be considered a “natural occurrence” if the definition of lab leak meant that someone was infected in the wild and went “into a lab,” was studied in a lab, and then “came out of the lab.”
Posted by: Weird Al

CALL THE POLICE!!
Someone beat the fuck outta that definition.

Posted by: rickb223 at March 13, 2023 09:29 AM (G8h7g)

382 "QE1, 2 and 3 happened prior to 2017."

Keep on keeping on ignoring that fucking chart.

Posted by: Throw gp That Whammy at March 13, 2023 09:30 AM (MvF+J)

383 Evidence that he now realizes this plan has wholly gone awry comes in the form of an interview with CNN’s Jim Acosta, during which Fauci argued the pandemic could be considered a “natural occurrence” if the definition of lab leak meant that someone was infected in the wild and went “into a lab,” was studied in a lab, and then “came out of the lab.”
Posted by: Weird Al at March 13, 2023 09:27 AM (RHGPo)

good lord that hurts my head just trying to figure it out. i mean, anyone getting themselves into THAT much of a pretzel to cover their ass should be hung just on general principle...

Posted by: SturmToddler at March 13, 2023 09:30 AM (Mkvkw)

384 "they're all super libs in my family SUPER LIBS

they suddenly all care a LOT about the Oscars, about baseball (?!?!) about Ukraine etc etc. people who never took a gym class in their lives! all about baseball suddenly

annoying

Posted by: BlackOrchid at March 13, 2023 08:05 AM (w0NJk) "

well, I give 'em credit for understanding that those things (such as they are, lol) are the underpinnings of their world, and trying to support them.

Posted by: sock_rat_eez - we are being gaslighted 24/365 at March 13, 2023 09:30 AM (VohFI)

385 This may impact Gavin Newsom's presidential aspirations.

Posted by: Pudinhead at March 13, 2023 09:23 AM (6uV63)

----------

Disaster and failure are always resume enhancers for Dems.

Posted by: ShainS -- The Abolition of The West is from Men Without Chests at March 13, 2023 09:30 AM (wsx8x)

386 >>Art is up.

Van de Lay Industries has always been a decent hedge against the Bond Market.

Posted by: garrett at March 13, 2023 09:30 AM (WBbJZ)

387 So Yellen and Biden are destined eventually to be seen as hero inflation fighters?
Posted by: Throw gp That Whammy at March 13, 2023 09:29 AM (MvF+J)
++++
Maybe (Powell, not Yellen). I doubt it, though. Volcker went hard and fast, taking the pain upfront and allowing us to come out of it fairly quickly.

Powell is being very, very slow about things and trying to avoid doing what needs to be done.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:30 AM (t0OGg)

388 >>So Yellen and Biden are destined eventually to be seen as hero inflation fighters?

In a world where your takes are anything but 'hot'...sure. Let's go with that.

Posted by: garrett at March 13, 2023 09:32 AM (WBbJZ)

389 382 "QE1, 2 and 3 happened prior to 2017."

Keep on keeping on ignoring that fucking chart.
Posted by: Throw gp That Whammy at March 13, 2023 09:30 AM (MvF+J)

Spendable balance is M2, not M1. What's in your bank account is M2, not necessarily physical paper.

Posted by: Red Turban Someguy - The Republic is already dead! at March 13, 2023 09:32 AM (eYoxG)

390 What happens when the rest of - or just some significant portion of the rest of us - starts behaving like the Federal Government, or really just government in general? What happens to this carefully crafted and delicately balanced world when underlaying communal assumptions about civility are set aside for more practical considerations? The first Great Depression indicates that most people will simply suffer through it, and that poverty, war and famine will be the price paid by the many for the perfidy of the few; the few who will go unpunished, their reputations only enhanced by their unhinged criminality.

Posted by: Erik In Texas at March 13, 2023 09:32 AM (aGGj6)

391 It will be his last appointment.

Posted by: blaster

Sorry to hear that. Went through the same thing a few years ago.

Posted by: Thomas Paine at March 13, 2023 09:33 AM (lTGtQ)

392 I have news for Naomi Wolf.
She has never been a Jew.
Her beliefs she was inculcated into are a poisonous mix of Sufi Islam and Shamanism.
She is just now realizing maybe she should get right with her actual God before Israel is wiped off the map.
I admit I am unsympathetic but here we are.

Posted by: LenNeal at March 13, 2023 09:35 AM (UKCk3)

393 Powell is being very, very slow about things and trying to avoid doing what needs to be done.
Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:30 AM (t0OGg)

My take is that the Dims are trying to hold out till some lame ass Republican like Pence gets in as Preezy in 2024, and then the Reps can be blamed for all the issues higher interest rates will cause.

Even though they need to be done.

Spoiler: The Dims are running out of time. The election is too far away and they've done too much damage to the economy.

Posted by: naturalfake at March 13, 2023 09:35 AM (L1tQx)

394 Thanks to a British journalist it just become open season on the breed in Ukraine.

The Sun's defense editor has joined the Ukrainian military.

Now who said journalists were smart? Foolish probably. Smart I do not think so.

Posted by: Anna Puma at March 13, 2023 09:36 AM (ELtLg)

395 Straining Credulity, Dr. Fauci Asserts Covid Lab Leak Could Still be Considered a ‘Natural Occurrence’

Hey, when people got infected with Covid-19, it would be a 'Natural Occurrence’ for some of them to die.

Fauci can explain anything.

Posted by: An Observation sez China Joe not my president at March 13, 2023 09:37 AM (CecP5)

396 Good morning, everyone, and thanks, J.J.

Part of the plan. On top of the billionaires shafting us, we got millionaires galore, i.e, the Patriotic Millionaires, including PA's Scott Wallace & his Wallace Global Fund. See The Washington Free Beacon article by Joe Schoffstall, Nov 2017: Liberal Millionaires Group Seeks to 'Fundamentally Reset' America's Ideology and Economy.

Their 2022 newsletter, The National New Deal Preservation Society (NNDPA) says in part, "The lead article points to the critical way descendants of New Dealers have come forward to describe the lessons learned by their relatives and the ways New Deal objectives can be brought into current public policy."

There's also the 'NewDEAL Leaders' with their Democracy Playbook with steps elected officials should take ahead of the 2024 presidential election.

Social Security; Federal Deposit Insurance Corporation; Federal Crop Insurance Corporation; Federal National Mortgage Association (Fannie Mae); NLRB; Securities & Exchange Com; Tennessee Valley Authority, and Soil Conservation Service are all currently operational programs created under FDR's New Deal.

Posted by: Lola at March 13, 2023 09:37 AM (GshMh)

397 "If you see a CA license plate in your state, run them off the road, make their filth stay in the place that just got bailed out again. Don't let them spread."

Good luck w that. Some of us are armed.

Posted by: gourmand du jour at March 13, 2023 09:38 AM (jTmQV)

398 JJ

So the venture vultures are yelling, "turn that ATM back on! We need a drag queen story hour meeting!"

Am I understanding things?

Posted by: Anna Puma at March 13, 2023 09:38 AM (ELtLg)

399 The Bidet Administration is making Mel Brook's governor character in Blazing Saddles look competent.

Posted by: Anna Puma at March 13, 2023 09:41 AM (ELtLg)

400 (6oBTu)

Who's this retard?

Posted by: Anna Puma at March 13, 2023 09:43 AM (ELtLg)

401 The Fed is a collection of twelve regional banks that have a magical property. The liability side of their balance sheets are dollar bills they issue that have no interest cost. So they can always "make money" except if the world melts down.

But they can go "balance sheet" broke if the value of their assets is less than the value of those dollar liabilities. If the Fed raises rates enough, it will go "balance sheet" broke. So I've seen this as a cap on what the Fed can do.

IMO, the Fed didn't raise rates enough over a long time period. They did a half-assed catch-up and have hit the limit of what they can do with an already ballooned balance sheet.

Posted by: Ignoramus at March 13, 2023 09:44 AM (RqMSv)

402 so sorry to hear that, blaster

Posted by: sock_rat_eez - we are being gaslighted 24/365 at March 13, 2023 09:52 AM (VohFI)

403 ... IMO, the Fed didn't raise rates enough over a long time period. They did a half-assed catch-up and have hit the limit of what they can do with an already ballooned balance sheet.
Posted by: Ignoramus at March 13, 2023 09:44 AM (RqMSv)
++++
They are not immune to the consequences and inflation is one of those consequences. They are probably in the position where they can't extract the amount of money they need to from the money supply. They can't seize dollars from the public market, they have to sell something to get them or raise the price of dollars. Rising interest rates do the latter, but it is a slow way to extract 15+ years of pumping the money supply, with the pump running at redline during 2020/21. They have to sell assets to pull more money out of the system, and most of their assets are probably underwater.

Not to mention that large-scale sales by an asset owner that big will also push prices down anyway. The balance sheet needs to be unwound. They can't pull out all they pumped in, but they can get a lot of it. The trick is trying to do that without causing a massive crash.

Posted by: Joe Mannix (Not a cop!) at March 13, 2023 09:53 AM (t0OGg)

404 Any good novels on this corrupt government crap story? Other than Atlas Shrugged. I kinda want to know what to expect.

"The Mandilbles" works for financial collapse

Posted by: JM in Florida at March 13, 2023 09:54 AM (hJX3m)

405 Also read on twitter somewhere that the SVB funded many of the area's solar companies.

Hopefully the bank's destruction will cause destruction of this industry too.

Posted by: PJ at March 13, 2023 10:20 AM (G1dq6)

406 "I'm just numb at this point."

Me too after two fucking years of our Globalist state of the republican party who purposely pushed Trump out after the greatest three years of my 53 years.

And now the Globalist republican party is funding Ron DeSantis to the tune o $500M to continue this nonsense; at least economically.

Posted by: Danimal28 at March 13, 2023 10:22 AM (klw0w)

407 Signature Bank had an interesting director: https://tinyurl.com/82rxr8vk

Posted by: jeff at March 13, 2023 10:57 AM (pvt9V)

408 Jon Corzine still walks free.

Posted by: free tibet at March 13, 2023 11:24 AM (iNp3L)

409 So what you're saying is that for a BLACK man to lead the FAA the BLACK man should know something about aviation? That's some racist shit right there.

Posted by: Milesdei at March 13, 2023 11:38 AM (tKatl)

410 Someone wrote "This is a bailout of VC-backed companies who don't understand cash management. Companies with [experienced management and] real treasurers understand spreading out deposits to avoid risk."
....Agree with the second sentence. But respectfully, the VC masters of the universe never worried about that, because they knew they didn't have to. Specifically, they had enough bribe power to get the biden regime to repay all their losses, well over $10 million per depositor, far over the $250K "rule" that bound the rest of us peasants. And sure enough, the Treasury has said no depositor will lose a dime, even though the KNEW the limit going in.
....Two sets of laws, peasant. One for you that's harsh and inflexible, and a much more lenient, infinitely flexible one for the elites.

Posted by: sf44 at March 13, 2023 05:52 PM (YC43X)

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