They gave banks the ability to borrow from the Fed with treasury collateral valued at its face value instead of current market value, which basically solved the problem.Oh no! The government has to do something to stop Powell!
They gave banks the ability to borrow from the Fed with treasury collateral valued at its face value instead of current market value, which basically solved the problem.
Moody's is downgrading the credit ratings of 10 small- to mid-sized banks, citing growing financial risks and strains that could erode their profitability. The credit ratings agency also warned it is watching some of the nation's biggest lenders for potential downgrades.
The actions come after a banking crisis that started in March with the sudden collapse of Silicon Valley Bank, once the nation's 16th largest bank, when depositors grew fearful of the bank's solvency and made a classic bank run. Signature Bank and First Republic Bank soon followed, leading to more concerns about the banking industry's stability
Well, one of the causes for 2008 was mark to market pricing laws, forcing companies to value themselves based on current market prices and Not on future guarantees. This allows banks today to borrow against guaranteed values of their financial assets instead of the temporary or fire sale market prices, so in this regard it’s the opposite. But what thing were you thinking of?Wasn't that one of the really bad ideas that caused the 2008 crash?
So if one is too big to fail they borrow against the US's credit, and now that's getting downgraded. The teets must be getting chapped.
I bought £5000 of Schwab @$56. Was up a few hundred, now down a few hundred. Hopefully i'll be up 20-30% in a years time...
Currently 13% down on my SCHW bet.
I am back "up" 12%.
I'll stick with Apple. ~$190 last Friday. I bought it at $111.
The S&P 500 index is now at 4700+ up from 42-4300 lows earlier this year. I'd be quite happy if it hangs out around 4600 for a while.Looking at most of the big movers the whole market has risen considerably.