Knuckledraggin My Life Away : FDIC seizes Silicon Valley Bank's assets

Friday, March 10, 2023

FDIC seizes Silicon Valley Bank's assets

The Federal Deposit Insurance Corporation (FDIC) seized SVB's assets today as depositors - mostly tech workers and start-up firms - began withdrawing their money following the shock announcement of a $1.8bn loss. The bank took a hammering in pre-market with its price plunging 66 percent before trading was halted.

FROM HERE

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And in other (probably unrelated) financial news, the price of gold jumped $31.59 today to $1871.47 an ounce - so far.

https://www.jmbullion.com/charts/gold-price/

Inspirations

"The Spartans do not inquire how many the enemy are, but where they are." AGIS II 427 B.C.

"No, no, I've got 'em right where I want 'em - surrounded from the inside." -- Mad Dog Shriver when told to break up his recon team and evade, that he was about to be overrun by North Vietnamese Regulars.

“The duty of a patriot is to protect his country from its government.” - Thomas Paine

"The policy of the American government is to leave their citizens free, neither restraining nor aiding them in their pursuits." - Thomas Jefferson

"The world don't owe you a living, Boy." - Pops

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Friday, March 10, 2023

FDIC seizes Silicon Valley Bank's assets