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| Government Corruption |
| 'The government has 48 hours': Billionaire investor Bill Ackman calls on Biden to bail out SVB by Monday MORNING or face catastrophic market meltdown and loss of tens of thousands of jobs |
| 2023-03-12 |
| [MAIL] Billionaire hedge fund manager Bill Ackman is forecasting 'economic meltdown' within hours of the banks opening up on Monday morning following the failure of Silicon Valley Bank. Ackman is urging for the U.S. government to finally step in and protect all of the bank's depositors, warning inaction could lead to a ripple effect across other smaller banks within the industry. The worry is that customers will rush to withdraw cash from their accounts fearing instability across the banking system with the very real possibility of a domino effect. Ackman is urging the government to take action and fix a 'a-soon-to-be-irreversible mistake' by Monday morning, to prevent such a bleak scenario from occurring. His ominous warning came hours after Greg Becker, the chief executive of SVB Financial Group, sent a video message to employees of the bank acknowledging the 'incredibly difficult' 48 hours leading up to its collapse on Friday. |
| Posted by:Besoeker |
| #11 So this is why the Fed jacked the interest rate. |
| Posted by: Skidmark 2023-03-12 23:38 |
| #10 It's like this, Bill: the depositors are covered, the market is already queasy, and the layoffs are well underway. The taxpayers are already tired of covering losses. Sorry if you got money invested, pretty sure you did. Suck it up, buttercup, that's why it's called gambling. |
| Posted by: ed in texas 2023-03-12 19:52 |
| #9 /\ One of the scariest phrases to an aggressive investor: Margin Call |
| Posted by: magpie 2023-03-12 15:36 |
| #8 They don't need bailed out. They have a lot of assets that need to be liquidated to cover the loss and the FDIC is working on that. They just didn't have enough liquid capital on hand to support a bank run, which is what happened. |
| Posted by: DarthVader 2023-03-12 15:18 |
| #7 We’re out of bailout money. Check with Zelensky. |
| Posted by: Super Hose 2023-03-12 14:29 |
| #6 "I felt a great disturbance in the Force, as if |
| Posted by: magpie 2023-03-12 13:46 |
| #5 @#2 - Yeah, it must be tough to sell an asset when there's nobody even on the bid, lol. |
| Posted by: DooDahMan 2023-03-12 11:27 |
| #4 |
| Posted by: M. Murcek 2023-03-12 10:35 |
| #3 Israeli start-ups are in for a rough ride after SVB collapse, experts warn |
| Posted by: Skidmark 2023-03-12 10:17 |
| #2 'incredibly difficult' 48 hours You have any idea incredibly how hard it is to sell our interests?? |
| Posted by: CrazyFool in Texas 2023-03-12 09:44 |
| #1 Does Billionaire Ackman happen to have HAD more $$$$ than is FDIC covered,in the bank, by chance? Just asking.... |
| Posted by: NN2N1 2023-03-12 08:22 |