Noticias de dinero

Links 03/13/2023 | naked capitalism

Posted on by admin

Cool moose chewing forest floor EOS

Investors cut Fed rates on rate hikes due to fallout from Silicon Valley bank collapse FT

Climate

Money, cars, chemicals (and corn) phenomenal world

banks

Be sure to read Yves post here.

* * *

Joint Statement by Treasury, Federal Reserve and FDIC Board of Governors of the Federal Reserve System. Correct schedule?

In the event of a sharp reversal, regulators will cover Silicon Valley Bank, Signature uninsured deposits American banker. Of course, this is the salvation:

As anyone can see::

First Republic receives additional funding from the Fed and JPMorgan WSJ

20 banks that are suffering huge potential losses on securities – as it was SVB MarketWatch

* * *

The demise of the Silicon Valley bank Net interest. About SBV’s problematic customer base:

The Silicon Valley bank’s problem is exacerbated by its relatively concentrated customer base. In their niche, all customers know each other. And there are not so many of them in Silicon Valley Bank. As of the end of 2022, it had 37,466 depository clients, each holding more than $250,000 in the account. Great for making recommendations when business is booming, this concentration can reinforce the feedback loop when conditions change.

IOW, in-group. Club:

And a club you don’t belong to. One with a lot of symbolic capital when their economic capital was compromised:

SIVB: Posthumous Administration Where to invest? Risk? What is the risk?

So when I read the proxies for 2023 and see that the Risk Committee 1) met 18 times in 2022 vs 18 times. their typical 5-7 times a year, 2) a new committee chair is appointed and 3) there was no chief risk officer for most of the year, this is a pretty strong set of signals that the company could know they had a serious problem with that they talked

Silicon Valley Bank profit cut due to tech downturn attracts bear sellers Financial Times. Pay attention to the date: February 22. Bury? Bury? Bury? burry—

SVB collapse: ‘Big short’ Berry accuses regulators of encouraging ‘greed’ Street. This is hardly fair. There is also a mention of “arrogance”. In fact, Berry mentions this before he mentions greed. Oddly enough, “arrogance is good” was not Gordon Gekko’s catchphrase….

* * *

Regulators face urgent task to stop proliferation from Silicon Valley bank WSJ

Barney Frank: Increase business deposit insurance limit WSJ. Frank is on Board of Signature Bank.

SVB lobby groups oppose proposal to strengthen deposit insurance Lever arm

Michelle W. Bowman: Future Central Bank Design Challenges (PDF) Bank for International Settlements. “The key issue that central banks should consider is how to clearly distinguish asset purchases from central bank actions in monetary policy… It is also important for central banks and other agencies to ensure that market regulation and supervision promote prudent behavior by financial institutions and sustainability in major financial markets.” March, 3rd

* * *

Billions worth of crypto transactions are at risk due to US bank closures Straits Times. It’s a damn shame.

Crypto entrance bumped right into a brick wall SVB VaPo

* * *

Fragile Capitalists rational walk

Central Banks Plans for Digital Currency Cause Public Backlash FT

#COVID-19

How the Cochrane review went wrong. Reporting that COVID masks exploded demands an apology Toronto Star

Covid Experts Today: Eat Out, Wear Less Mask, Even Book Cruises VaPo. “They were careless people, Tom and Daisy…”

China?

Silicon Valley bank collapse shakes China’s tech start-ups and venture capital industry Asia Channel News

How It Was: Lessons from Chinese Premier Li Qiang’s ‘Two Sessions’ at a 2023 Press Conference South China Morning Post

Xi Jinping vows to turn Chinese military into ‘great wall of steel’ amid growing tensions with the West FT

India

In the hunt for fraud, red flags start with the auditor institutional investor. Adam

Modi government grants Adani special privileges to develop coal business: report The wire

Seasonal viruses now attack in swarms, increasing disease severity: Kolkata doctors Times of India. Immune dysregulation?

in Syracuse

Saudi Arabia: Deal with Iran does not mean solution of all issues Andalu Agency

European disconnect

Thousands take part in new protest in Greece over fatal train derailment France24

New York Times: Hungary-US Nuclear Deal? What will Putin say? Hungary Daily News

Dear old Blighty

HSBC buys UK arm of Silicon Valley Bank for £1 in bailout deal FT

Why did 250,000 Britons die earlier than expected? Economist. Rule #2.

Gulnara Karimova: How Uzbekistan’s president’s daughter built a £200m real estate empire BBC (Resilc). I’m shocked that the money was laundered through London (real estate), but I’m also sure the abuse was limited to Stans’ outliers.

Britain’s grim entanglement in Papua’s independence conflict Globe_

New not-so-cold war

Zelensky has no choice but to ask his fighters to keep Bakhmut – for now political

Shift of the front line in the battle of Russia and Ukraine for Bakhmut, analysts say New York Times

Ukraine lies about casualty rates to justify keeping Bakhmut Moon of Alabama

Chris Hedges: death of Ukraine by proxy Chris Hedges, Sherpost

* * *

“Little cracks”: the military unity of the United States and Ukraine is slowly bursting at the seams political

Russia will take Ukraine, Donald Trump says firmly. Then explains the “deal” Hindustan Times

* * *

Moldova says it thwarted Russia-linked plot ahead of anti-government protests political

Georgian PM urges Ukrainian politicians to mind their own business Al Mayadeen

* * *

‘Hard’ exposure of Maidan massacre is hushed up by leading academic journal Keith Clarenberg, The Gray Zone. A 2021 Paper by Ivan Kachanovsky associated with in NC 02/27/2023.

Biden administration

Biden indefinitely blocks millions of acres of land and water from future oil drilling FOX. Unlike Willow.

Technology

Thanks to generative AI, catching the science of fraud will be much harder Register

Supply chain

Recent Developments in the Greek Code of Private Maritime Law Hellenic Shipping News

healthcare

“Planned PR Campaign”: How Skinny Shot Drug Company Tried to Influence the Obesity Debate Guardian A comment: “That’s why we can’t have nice things like initial solutions to global problems. Because all the money is in Band-Aids downstream and our systems are corrupt. Big business is using you for profit in more ways than you can imagine.” But innovation! Crash! This Bandaid has an app!

A leading antibiotic expert almost died after a cut in the garden sparked a life-threatening drug-resistant bacterial infection. insider

zeitgeist watch

Influential Parents and Kids Whose Childhood Turned into Content Teenage fashion

Imperial crumbling clock

Europe arms imports on the rise, US dominance of exports growing, think tank says Reuters (RK).

class war

Why Poverty Persists in America New York Times. “The main reason for our stalled progress in poverty reduction is due to the fact that we have not experienced the ruthless exploitation of the poor in labor, housing and financial markets.” But travel broadens the mind:

Or, from some point of view, very correct?

Curiosity Problem Pedestrian observations. Un-invented-here in the US transportation investments such as they are.

Antidote for the dayvia WLDavies):

Bonus Antidote:

See yesterday’s links and Antidote du Jour Here.

Printable, PDF and Email