mixdup

19 ms·

451.
by mixdup 4y ago
Apparently this is a regular thing that happens all the time? https://twitter.com/tedtalksmacro/status/1576109944289792001
452.
by mixdup 4y ago
I feel like if you have millions of dollars you should be sophisticated enough to understand FDIC insurance limits. Piling literal billions of dollars into one small bank is a calculated risk, too
453.
by mixdup 4y ago
The one thing that mandatory FDIC insurance gives you over purchasing private insurance is a) the US Government is guaranteed to not go bust (and if it does, we're all living off canned goods anyway) and b) you avoid the situation wher
454.
by mixdup 4y ago
Assuming the insurance company is solvent
455.
by mixdup 4y ago
They typically (at least where there's been documentation of the deal) where they limit their losses--one instance they sold the bank and guaranteed 20% of the assets. No way for them to misjudge that, they know the maximum they'r
456.
by mixdup 4y ago
Sure, the "known" portion may not be getting more toxic, but an acquirer has to take the whole thing. The "known" and the "unknown" part you're talking about. As it goes on, people are going to increasingl
457.
by mixdup 4y ago
>what a waste of time and energy There are services that do this for you. And, maybe it's a risk you're willing to take. Startups are inherently very risky ventures, so out of all the other risks being taken your bank failing i
458.
by mixdup 4y ago
No, this collapse is pretty rare. Typically they seize the bank after it closes on a Friday, have a buyer lined up in a secret auction conducted before the seizure, and on Monday the bank re-opens as a branch of the acquiring bank. It usual
459.
by mixdup 4y ago
The FDIC doesn't go above the $250k in that case--the assets cover it. I don't think the FDIC has ever paid above and beyond the insured amount to make people whole A lot of times their takeovers end up with people being made whol
460.
by mixdup 4y ago
Exactly. The rules here are well known. If you can't take the hit of your bank failing, no matter how rare you think it may be, you should protect yourself against it Every single CFO and company treasurer knows what the FDIC is and wh
461.
by mixdup 4y ago
Wonder what Bill Ackman's stance is on student loan forgiveness
462.
by mixdup 4y ago
I don't think that's likely. Other stats I've seen indicate over the past decade or two, uninsured depositors have been paid something like 75 cents on the dollar on their uninsured accounts. This would indicate the FDIC, if
463.
by mixdup 4y ago
I'm happy for them, I guess. Of course I could be wrong, but given the evidence I don't think I will be. More power to the VCs and everyone else if they get their money back. But, if they were going to find a buyer they probably w
464.
by mixdup 4y ago
Fair, I should've clarified that DINB does not have every penny that SIVB had. However, the point still stands: The tellers at the window on Monday will be working for DINB (which is owned by the FDIC) not SIVB Even beyond that point,
465.
by mixdup 4y ago
>Why would it be a problem to split payroll between multiple accounts? Not sure why it was posed as being mandatory. The only "problem" is that it's more overhead and something to manage. It's a problem in that it wil
466.
by mixdup 4y ago
This explains why the FDIC couldn't find a buyer of the distressed assets and also seized the bank in the middle of the day. They always wait until after the close of business on Friday (or, at the very least end of business of whate
467.
by mixdup 4y ago
Usually the FDIC has another bank buy the failed bank, and the employees would become employees of the purchasing bank In this instance, the FDIC wasn't able to find a buyer so all these people work for the FDIC until final disposition
468.
by mixdup 4y ago
No, the bank they worked for is no longer in business. The FDIC created a new bank, the Deposit Insurance National Bank of Santa Clara, and transferred all of SIVB's deposits to the DINB. On Monday, all of the physical branches of SIVB
469.
by mixdup 4y ago
Friday, they became FDIC employees. How long they remain FDIC employees is probably an open question, depending on role and the ultimate disposition of the bank
470.
by mixdup 4y ago
During 2008 crisis it worked exactly as described. Most failures resulted in the failing bank’s acquisition being decided before the seizure happened. The way this happened is very rare
471.
by mixdup 4y ago
Typically the FDIC finds another institution to buy the distressed bank, and backstops losses on bad assets. They were not able to do that in this case I suspect many depositors will be taking losses in this failure
472.
by mixdup 4y ago
No, FDIC means you get paid up to $250,000 per insured account immediately Any amount over that you are not guaranteed to be able to withdraw. These people are a long way from regardless
473.
by mixdup 4y ago
Exactly. The fact they didn't have a bank lined up points very heavily to the fact that they are not going to be made completely whole. In the past, the FDIC has found a buyer and as part of that process guarantees some amount of the l
474.
by mixdup 4y ago
Yeah, there are a lot of situations where NAT is actually preferable. Not everyone is going to need inbound ports, and the stability you get by having internal addresses is a feature, not a bug Tie all your network config to your IP space p
475.
by mixdup 4y ago
They still sell the game on the Mac, and by all accounts don't really miss out on the revenue from not being in the Mac App Store (this isn't the only app they've chosen not to distribute there)
476.
by mixdup 4y ago
that thread is amazing. Google's stance makes me want to deploy DHCPv6 simply to spite them. I guarantee in 10 years when some Fortune 500 company or top 20 research university IT department, who has no idea about that thread, goes liv
477.
by mixdup 4y ago
For sure they are lumping in a bunch of closings together that are not necessarily related. The original link mentioned other closings Walmart announced in February and most of those are due to Walmart giving up on a specific format that th
478.
by mixdup 4y ago
what city in the US has a competitive water distribution system?
479.
by mixdup 4y ago
NYC, NJ, and Dallas haven't passed laws around it, so maybe it's not an issue there. Maybe, like I said, it's a particular issue in Seattle and not as much elsewhere
480.
by mixdup 4y ago
Do you live in Seattle? Literally the top comment from the linked thread is by someone in Seattle who says it's a big problem Maybe it's only a problem in Seattle and not other cities in the US. Might be why Seattle is the first&#

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