RETURN OF THE LETTUCE
IT IS
RETURN OF THE LETTUCE
COME ON
RETURN OF THE LETTUCE
OH MY GAWD
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Looks like the swiss central bank has stepped in to provide liquidity.
IIRC the issue with Credit Suisse is essentially the same as other financial institutions with large numbers of bonds or other instruments which decrease in value if interest rates are raised so, I’m not entirely sure how simply providing liquidity helps but 
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CS top shareholder says panic is “unwarranted” 
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My “The bank is absolutely fine” t-shirt is prompting a lot of questions that are already answered by the t-shirt.
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Kind of tied into this issue, is the problem highlighted by this article:
In short, you have to hope that there is not an interest rate hike in the year or two before you retire.
This is really bad. Part of the problem is that careers in wealth / pension management are quite short, intense and overpaid, so the lessons from previous long term macro trends tend to be forgotten.
i think it’s probably worth remembering that bank failures are constant, absolutely not uncommon, and part of the ebb and flow of finance
I guess it’s more the size of the balance sheet that makes SVB quite unusual as far as bank failures go. A bank like Ericson, to look at one example of a bank that failed during the 2009-2023 period, had around 100 million in assets nearish the time it was taken over, SVB’s were over 200 billion, a substantial amount of which were customer deposits, which is considerably more rare.
Oh absolutely. My oldest friend is an MD in risk management area at HSBC and has been heavily involved in the SVB buyout, and she tells me it’s vastly more complex to deal with something like this than with smaller banks, but I’m also loathe to start feeling the flutters of panic that the world is economically about to tank when I know that this will happen again, repeatedly, every year.
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