mspart

Biden giveth and Biden taketh away. I'm happy that he giveth but like the article said, likely the opened Willow area will be subject to numerous lawsuits. mspart

I got more. mspart

Scourge, Thank you for providing the link. I wonder why I hadn't heard of this? This did not make general news here did it? I don't remember any of this. Those from Azerbaijan that did this are monsters and need to be inflicted with international law or national law. I did not see that these guys are heroes for this, but that does not speak well of the country in general. Blood thirsty animals. mspart

Austin DeSanto was on the Honor Roll. Not saying what field of study that was!! mspart

Well, that's why they do the wrestling and see where it all comes out. mspart

Not knowing better, I will agree with you on the customers. I agree with the $100M too, except they have pros taking care of their money so it can be done. Might not be worth the fees vs the bank fees but I don't know. SVB was 89% beyond insurance. This meaning that 89% of the money in SVB was beyond the $250k/account threashold. I'm not sure I would call those folks standard banking customers. I certainly wouldn't qualify as a standard bank customer at SVB. I can't find how many accounts were fully FDIC insured there. That might be interesting to know. How many accounts total, and how many fully insured. That info might support your position, or not, depending on the makeup of the account depositers. mspart

I think it would be good for DF to get a win here, but overall I agree with CB. mspart

WKN - You know nothing!!! Very good description. Why is this all happening now? I heard today that SVB went 8 months last year without a Risk Officer, someone watching the stuff you describe. I hope for all of our sakes that this is isolated but the article I presented shows a larger effect. Hopefully that calms down. Now for another question: FDIC insures each account for $250k. So if I had 1 million in SVB in one account, should I be able to demand all of that or just the $250k? FDIC made a decision on this, and it seems like we are making exceptions here. It seems it would have been smarter for me to have 4 accounts with $250k in each or possibly 5 with $200k in each. Then I would be covered right? Or is it per depositer? I also heard that when you did something with SVB you had to keep your money and accounts with them. It does make it easier by not having to go to several different banks to take care of your needs, but that seems like a local bank rule that may need to be looked at. No doubt the bank officers and shareholders should lose out. That's how it works. I hope they do not get bailed out or that will create a bigger threat to the economy I think. But I think the gov et al reimbursing 100% is not proper, legal, or good financial business. mspart

https://finance.yahoo.com/news/stock-market-news-today-live-updates-march-13-2023-114351107.html The moves came after stocks got smoked on Friday, rounding out their worst week so far this year. Federal regulators closed tech-focused lender Silicon Valley Bank in the biggest U.S. bank failure since the 2008 financial crisis. President Joe Biden addressed the nation Monday morning regarding the turmoil in the financial sector. Biden said that “no losses will be borne by the taxpayers” and he assured customers that they would be protected. The president also vowed to ask Congress and regulators to strengthen rules for banks. His remarks came after regulators took extraordinary action Sunday to stem the fallout in the baking sector. Treasury Secretary Janet Yellen, Fed Chair Jerome Powell and FDIC Chairman Martin J. Gruenberg announced that depositors of the failed Silicon Valley Bank would be able to access all their money starting Monday. The saga of Silicon Valley Bank has had a rippling effect on a second bank: Signature Bank (SBNY) was closed Sunday, the second bank failure in three days. Among the measures, the Fed said depositors would be made whole. It created a new “Bank Term Funding Program” (BTFP) facility that enables other banks to obtain quick cash in exchange for collateral. Meanwhile, the sour bank sentiment spread across regional banks Monday, as the KBW Bank index (^BKX) fell nearly 12%, while index members including Bank of America (BAC), JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C) all traded down. JPMorgan analysts led by Marko Kolanovic said in a note to clients that the stock plunge for larger banks was "overdone," but they did point to "emerging cracks" dating back to banks' fourth-quarter earnings that painted a daunting picture in the nearer term. "While we do not believe there is a banking crisis in the making and the SVB situation is somewhat unique, we do expect increased investor scrutiny of banks," the analysts said. Other regional bank stocks including First Republic Bank (FRC) plummeted more than 60% after JP Morgan lent the bank a hand. The California-based bank secured funding from the Wall Street giant that gives it more than $70 billion in unused liquidity. PacWest Bancorp (PACW), Zions Bancorporation (ZION), Regions Financial (RF), and Western Alliance Bancorporation (WAL) stocks were halted Monday morning, triggered by volatility. The stocks ended the day down 20%, 26%, 7%, and 47%, respectively. SVB is having an affect on the financial system. Stocks generally were down today after being up on Biden's optimism. There is more to this article but 10 banks got hit hard today as named above. mspart

All I remember from that movie was Large Marge. mspart

Yes, he turned it around at Iowa, but it was not all roses. There was one incident where they had to pull him off the mat. I think there was a serious discussion after that about how much he wanted to wrestle at Iowa or anywhere. Since then most of his aberrant behavior calmed down. Hopefully he is now in full control of himself. He's been to two international competitions and seemed to handle himself well. I don't think he had the self control to be champ. But if he started there earlier, maybe his adjustment would have happened earlier. Another interesting question is how did Lee handle him in practice? You know they had to spar each other from time to time. Who got the better? mspart

The Serbian National that killed the arch duke and started WWI is considered a national hero in Serbia. Perhaps Serbia should give up its aspirations of Olympic-hood. I found this out while speaking with a few Serbs a year or so before the Balkans War. It was still Yugoslavia at the time. They were hating on Croatians at the time for being war mongering during WWII. I asked if it wasn't a Serbian that killed the arch duke starting WWI? They heralded the guy, he was a national hero and stuff. I couldn't believe it, they were applauding the guy that started WWI. These were just average guys there in Belgrade. Wrongly or Rightly, I assumed this was the thought of most Serbs. mspart

I missed the news on this event. Can someone please recap for me? Time, place, rapists, victim etc. mspart

That is really pretty wild. Has that ever happened before, that the returning finalists not seeded to AA the next year. mspart

I'm telling you Roman will fall. mspart

Warner was #6 last year and made it to the finals. Only slightly tougher this year at #14. I think he can do it. Murin may surprise too. Or maybe both won't. mspart

It hurt Terry Brands that Tom got a gold Oly and Terry only got a Bronze. He stated that he just must not be as good as Tom. mspart

Interesting, PSU is saying the same thing! mspart

It would make it interesting and might, after the zap, create more offense for the other guy while the zapped guy is concentrating on something else. mspart

Mike, in your first sentence you essentially say these were all isolated events, having nothing much to do with each other. It only took you 4 sentences to say that due to COVID and its effect on the financial sector, now the skeletons are exposed. I'd say that statement pretty much agrees with what I said. SVB going down affects a huge number of other entities. This will reverberate throughout the economy. Hopefully these recent events are isolated and we can all go about our business. But with First Republic now in trouble, I don't see much of an isolated event. But in 2008, it was all isolated until it wasn't. I think your last sentence points to that. It would seem not much was learned form 2008 except new ways to skin the cat. mspart

I realize there are few wrestling teams in the PAC-12, but I am not aware of the PAC-6 ever being a thing . mspart

With the Signature bank failure as well as SVB, and First Republic stock price losing 73%, can we honestly say all is well. And let's not forget the utter tanking of FTX. Everyone figured that was an isolated incident. But now there seems to be a wave brewing. This seems eerily similar to what I was hearing in 2008. Market is up today but I am not so sure it will be for long. The recession may be here sooner than everyone thought. mspart

Does anyone expect that a member of this committee know what they are talking about? Or do we expect they are spoonfed their info by their staffers? I would hope that staffers say the video is very damaging to Trump etc and the congressperson would say, let me see that. I expect the committee person speak from knowledge rather than hearsay. Alas my expectation is dashed to pieces. mspart

He's not as old a timer as me. I would have said Pac-8! mspart

I thought you were going somewhere else with this. First Zap is a warning, the next is injurious, and the next is..... mspart