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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (15523)	3/13/2023 1:23:47 AM
From: Kirk ©	Respond to of 26720

Yes, the larger banks have to pass stress tests with the Fed before they are allowed to increase dividends and/or buy back stock. This is after they have the mandated reserves for "too big to fail." I've found this past year their "earnings" are dominated from money moving in and out of reserves... ie they can make half as much as they could except they move money into "loss reserves" so it looks like they ALREADY lost that money. If things turn out well, that money moves back into profits on their balance sheets. It seems SIVB was run by incompetents or crooks. I think my last post made a good case incompetence is high on the list given they had a single person in charge or risk doing other "HR" type jobs. OBVIOUSLY, she was a failure at her job title duty... it doesn't matter how well she did at LGBTQ+ diversity and inclusion jobs as her failure at risk management means everyone probably suffers be they straight or rainbow.

To: Rarebird who wrote (15523)	3/14/2023 8:57:35 AM
From: Kirk ©	1 Recommendation Recommended By Sr K Respond to of 26720

Looks like the story was wrong. I sure wish "newspapers" with large followings would get these things correct before publishing. In their defense, maybe SVB was too busy trying to stay afloat to comment... "Update: After publication, SVB UK responded that, since August 2022, the SVB UK has been a separate “ring fenced” entity from the US SVB bank that collapsed last week, and that Jay Ersapah reported to the Chief Risk Officer for the UK and would not have been involved with risk assessment for the US bank. " nypost.com