So... did the tech bros who were borrowing money and re-depositing it at SVB get their loans disappeared when the bank collapsed, but then have their deposits guaranteed?
btw they recently auctioned off Signature Bank's assets. other banks bought ~10bn of the real estate loans at a 20% discount. the rest of the real estate loans were deemed "toxic waste": https://twitter.com/AureliusValue/status/1638189704850857984
Fantastic read as always
Gee, all the credit rating guys all saying everything is just hunky-dory. I’ve never ever ever heard that before…
Or have I? I don’t know.
What are your thoughts on MCB?
So... did the tech bros who were borrowing money and re-depositing it at SVB get their loans disappeared when the bank collapsed, but then have their deposits guaranteed?
btw they recently auctioned off Signature Bank's assets. other banks bought ~10bn of the real estate loans at a 20% discount. the rest of the real estate loans were deemed "toxic waste": https://twitter.com/AureliusValue/status/1638189704850857984
as for those "fund banking" loans? lol
the loans haven't disappeared.... yet.
in other words: you get it