American Banking Industry is about to collapse

[brainbomb]

SVB is only the beginning. Just like in 2008 the entire American financial system is about to collapse and banks will start falling like dominoes.

[Octavious]

SVB is only the beginning. Just like in 2008 the entire American financial system is about to collapse and banks will start falling like dominoes.

It's nothing like 2008.

Prior to the collapse in 2008 the global economy was in decent health

[orathaic]

The state will bail these banks out to keep the economy running? And then cut back on public programmes to 'pay back' the losses of these bankers? Is that what will be just like 2008?

@Oct. What is decent health measured by? Was the 2008 gdp not based on over estimates of the value of certain assets, whereas today things may even be undervalued...

[Chaqa]

There's no reason other banks should fail. This is just Silicon Valley being stupid.

[brainbomb]

this is the end
empty your accounts
sell all stonks
wait for total collapse

[orathaic]

But IS treasury bonds. Why would you still hold stocks?

[orathaic]

*buy US even not IS, i doubt the Islamic State treasurey is particularly secure...

[brainbomb]

the fact that the Biden administration is taking emergency measures to prevent a banking collapse should tell you it is definitely not just SVB

[Jamiet99uk]

the fact that the Biden administration is taking emergency measures to prevent a banking collapse should tell you it is definitely not just SVB

Well it's at least two, Signature Bank collapsed as well.

[brainbomb]

Emergency overnight meetings between congress and treasury department to ensure there is not a run on all the banks causing a financial collapse.

maybe at this point its our civic duty as americans to all withdraw our money on the same day and make all these banks collapse so the crappy business practices finally end

[Fluminator]

My bitcoin investment skyrocketed last night. Nice

[orathaic]

Not up to prepandemic level yet?

[Randomizer]

Biden will keep the banks from failing to avoid a panic run in the system. The Repubicans will default on increasing the debt limit and create an even bigger panic.