'Bloomberg Technology: SVB Fallout Special' (03/10/2023)

"Bloomberg Technology" is our daily news program focused exclusively on technology, innovation and the future of business hosted by Caroline Hyde in New York and Ed Ludlow from San Francisco.
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[@tomdallas3690]

Silicon Valley Bank CEO was on the board of directors of the San Fransico Federal Reserve......just got kicked out today.....lol.

[@chrisbluebird5037]

Very well articulated; I wish I had more time for trial and error, but I'll be 56 in July and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have a portfolio of at least $900k at the age of 60.

[@joshspring7686]

There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts

[@mesutserim1595]

@@joshspring7686 Yes, I've used such expert, an investment adviser at that, and she really worked magic on my portfolio, initially I was always in and out of the market, selling at a complete loss but for the past 2years I've been mostly in the green, earning steady profit irrespective of market movement thus gaining over $850k+ in the past 2years.

[@miawhitlock9140]

@@mesutserim1595 how'd you go about getting a proper investment-adviser like that, I've had plans to touch base with one, I'm just not sure how to go about it, I don't mind looking up this one that guides you

[@mesutserim1595]

The advisor I use is Wendy Helene Bennett, she's verifiable , so you could just search her.

[@HuxMan909]

Fake comments, fake likes 🖕🏻

[@originalgangsta794]

In tired of watching taxpayers paying for banking system collapse. This is complete inexcusable

[@MegaLivingIt]

Be specific about this bank being run by woke idiots.

[@virgoblue1392]

All while the CEO's of those banks remain wealthy.

[@Pain-wg1qn]

SVB bought $117B in bonds before the Fed began increasing rates. The value of most of those bonds SVB purchased has fallen of a cliff due to the fact that bond values decrease as interest rates increase resulting in huge investment losses. Their clients reacted to the investment losses by taking their money and banking somewhere else. SVB failed because those in charge made extremely bad investments. The free market is working as intended.

[@josephlisack4537]

Yes..this is the real story...but main street media won't cover. Terrible terrible management decisions. Mismatched assets and liabilities. Gets u every time

[@luap2551]

The Crypto space is crap and Ponzi - Decentralized Bitcoin on blockchain is the only survivor long run - Bitcoin also has problems but it is a hard asset long term

[@davidpeng9196]

Can I ask a very basic, but surprisingly nobody mentioned question, why so many VCs choose SVB and FRB, not choose bigger national banks (such as Chase, BOA, Citi, etc), or smaller banks (such as credit unions), what kind of service are so unique and attractive, can not understand at this moment.

[@morten3465]

It's probably the other way around: banks offering terms based on their preference and understanding of clients businesses. Lots of banks don't like anything without perceived assured returns. Hence all the low interest bonds that are now down double digits in selling value because the Fed interest rate is up.

[@Aeye424]

Is everyone on speed and adderral on this channel 😂AARON DOES NOT BLINK HE IS BLAZED

[@brendansmith7842]

Uppers are very popular in finance and some say it increases their productivity too as well as ability to focus, maybe especially so on a day like yesterday, but usually few use very hard drugs like meth/cocaine as that makes most people less productive especially over time and has potential for much worse addiction. I know ppl in the business, it's kept quiet but is well known!

[@ZondaFeek]

Love Bloomberg, hate many of their hosts tone of voice! They seriously managed to have the most annoying voices in the industry 🤷🏽‍♂️

[@corneliajennins5714]

Every day we have a new problems. It's the new normal. At first we thought it was the bank collapse secondly its crypto dying off , now we know it's a new normal where can we safely invest our money . this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $780,000 savings to turn to dust

[@anthonymilner1088]

I'm tired of the system too we must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, 'Corinne Cecilia Heaney"", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.

[@Robertgriffinne]

please how do i find the lady you just mentioned?

[@aigajenkinson2495]

Corinne really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her

[@Mishk]

“Quite contained” lols. Yeah if you believe that people and businesses losing all their money has no knock on effects then I don’t know what to say

[@mjb9176]

It's almost like Bloomberg was prepped and ready to cover this breaking news. Never let a financial disaster go to waste, coverage gets views gets eyes gets advertizers.

[@bytemuncher1]

Thanks for letting us know they're a financial news organization.

[@cjmillington]

@@bytemuncher1 Right? These conspiracy theory narrative obsessed wackos are so boring at this point.

[@jayk127]

Retards

[@Otter-Destruction]

Crazy right? A news organization reporting news. The horror.

[@luap2551]

Have been Shorting SVB since Jan - Three other short positions on similar type banks - Take a look at the balance sheets - Raising interest rates at the fastest rates in History is going to hit many of these banks - Money to be made

[@jbravo300]

Which other banks have you shorted? I saw earlier Bank of America was second in line in unrealized losses (SVB was first).

[@crankin77]

Why do you say rising interest rates hurt banks? They actually benefit their margins. SVB was a terrible bonds investment.

[@t4d7]

@@crankin77 from what i've heard, if they are holding low interest bonds the drastic raise of rates lowers the value on those bonds a lot, and if they need to mark to market those bonds the losses are enough to put them out of business. that's my basic understanding of what happened here, i'm no expert so i might be a bit inaccurate in how i described that

[@raygordonteacheschess5501]

How do you close a short position?

[@raygordonteacheschess5501]

Odds are it's already been made. I'm long.

[@larrymiller5253]

The American banking system is really safe and well capitalized,” she said. “It’s resilient.” explains Janet Yelen... The exact same sentence was said for the radios as we collapsed into a depression. Seems like a good time for someone to explain exactly what is going on and how it came to this, WITHOUT worrying about offending one group over another. Pfffft, who am I kidding. This'll go over like COVID and Fauci. At least we know what a woman is

[@tomdallas3690]

No buyer, no bailout. Time to take losses, suckers.

[@rod2508]

Not your keys not your crypto. Never store your assets on an exchange. Much like never keep all your money in a bank (always keep physical cash/valuables).

[@battlescorn]

Considering who the leadership team at SVB was/is, it's a pathetically hilarious representation of the U.S. banking culture. #svb #LehmanBros #DeutscheBank

[@marvelcomiks8078]

Every single senior Bank Executive hired by SVB should be made to cough out their bonuses and salaries they have taken over the last 5 years.

[@Nighthawk-8050]

And should go to prison

[@iconcarifur]

I think government bond gives you more than savings account. I took my money from savings account. All bank might collapse.

[@iconcarifur]

Chase Bank also has unrealized losses just like silicone bank. If everyone withdraw money from chase Bank then Financial market might collapse.

[@morten3465]

Is it just me or is there a domino effect from FTX and crypto shocks (loads of deposits leaving crypto exchanges) to Silvergate bank (which held a lot of the crypto exchange deposits and put them in treasuries) and now SVB? So a run on crypto exchanges forcing a run on a bank for the crypto exchanges (both to get back actual dollars), scaring the shit out of SVB depositors? Yeah, I might keep staying out of Crypto.

[@joannabakas6475]

2:32 - did she actually shay 'and then there is this SECOND issue about the customers...'

[@lindabrown1576]

Beauty fades stupid Is forever. All in podcast for understandable info and a new puppy

[@millermc74]

"A lot of companies are suffering" I think this is the intention of the FED, the hikes are having their intended effect for better or worse.

[@yvesderrick4348]

Certainly, the wise companies that still want to remain relevant and in business have resorted to private experts and Professionals in the field to take advantage of the hikes and stay consistently profitable.

[@jacquelinecorrig4594]

@@yvesderrick4348 from a personal angle I'm aware continuing to invest in periods of higher volatility is a Smart way to build wealth. so it's a rather smart move.

[@bernardsegouin6773]

@@yvesderrick4348 We read news in the media that doom and gloom is coming and we just accept it. Doom and gloom doesn't always have to be coming. I've read numerous success stories of people that are pulling off tremendous gains of up to $120k within weeks in this crazy market and if private experts are the solution for these companies and even individuals, I welcome it.

[@benjamineprg4249]

We read news in the media that doom and gloom is coming and we just accept it. Doom and gloom doesn't always have to be coming. I've read numerous success stories of people that are pulling off tremendous gains of up to $120k within weeks in this crazy market.

[@Deitricklaverne]

@@yvesderrick4348 And there really isn't a lot of them out there and it takes some getting used to. That's why I too rather leverage aid like these companies, and so far it has been a great ride, just had my 6th profitable month investing with the aid and analysis of a regulated pro trader. Got into the market with $40k and I just hit $370k today.

[@joachimlindback]

Hold FOMC accountable. Global pensionfunds are affected.

[@trevortrevor6720]

ahhhh. so it begins. the classic human reaction. find someone to point the finger at! lol.. the irony is, when the good times were rolling in, no one had a problem with the FOMC then, everyone was drinking the coolaid. people will never learn, and thats the problem

[@netbisco2566]

Blaming on someone else, just not yourself. Svb doesn’t diversify their investment…

[@Burevestnik9M730]

this is THE sexiest woman alive.

[@patricklennon1080]

With everything going on right now, we'll have regrets for things we did not participate in...Investment should always be on any creative man's heart for success in life.

[@roberternest4641]

you're right investing/trading is surely a lucrative way to invest whether you want growth, leverage, stable income or something in between.

[@arktom7335]

I have loss severally trying to trade on my own. Can someone tell me the best way to win instead of losing more?

[@adokadanla1407]

trading with an expert is the best strategy and also profitable, Newbies who are not aware of how crypto truly works and wish to make profits from it, I would advise to invest with a professional like Fergus waylen, It helps secure and minimize the possibilities of losses.

[@Richardson238]

he's really a professional. For this past months, I keep earning $11,800 weekly profit having invested $4,200 and working with him

[@damiansokratis6928]

Oh I remember him, Mr Waylen, a brilliant market enthusiast with new strategies. I signed up on his platform some months back, it has been productive for me

[@mehditaba6303]

They don't talk about the reasons.

[@JR-eq6jz]

It’s not contained people. Don’t fall for this BS.

[@andre-le-bone-aparte]

Cathie Wood is punching the air right now, LOL - Roku having half-a-billion in cash with SVB - *poof*

[@petermerelis]

relax, the the bank already has enough assets to repay something like 80% of the deposits. the rest will come from a buyer or the government. questions about corporate governance remain though.

[@TokyoOlympics2020]

Lol Arjun is a scardy cat

[@tombox2759]

lol not contained at all you will find out Monday morning...

[@tombrown8443]

LOL Biggest 6 banks are safe. Umm... where did I hear that before..??. Oh yeah 2008. BTW Stephanie go look at BAC books before u open ur mouth.

[@tomlavelle8340]

We’ll all be eating grass in a week.

[@virgoblue1392]

Lemon grass is good for you

[@michaelswami]

The founders took risk, this is one of them. Try again. Learn from this.

[@hussienalsafi1149]

🥲🥲🥲🥲🥲😊😊😊😎😎😎😎

[@nativeadvisors]

NO BAILOUT FOR SVB. The American banking system seems like it is teetering badly. NOTE: It is time for a new financial ecosystem to emerge for investors and the banking public. Decentralized financial services and backing by a tribal government - with complete and real insurance levels - is needed now. American Indian tribes could offer this within weeks. Where are the banking and investment innovators? #investment #like #banking #insurance #venturecapital #investing #financialservices

[@PhilChavanne]

Bloke with the British accent: « So much of this is about psychology… » 😂😂😂 This has zero to do with psychology, but everything to do with balance sheet, quality of assets, risk measurement and controls. Rotten assets and over-leveraging.

[@Willfully_Ignorant]

Oh but wait. Hasn’t THIS channel been talking about how great our economy is recovering over the las few month? Remember, almost definite soft landing and maybe no landing? JFC, you clowns should just go ahead and hire Jim Cramer and make him your lead financial adviser.

[@redmed10]

Nobody saw this coming? That's how it is for big business in USA Remove regulations, expect them to regulate themselves. Exactly the opposite.

[@keithhowson7836]

It's the pension funds who are going to suffer as they are now sitting on trillions of dollars in bonds, which are falling in value by the hour and as they start to unload them its like a merry go round, they get worse as they do it, but they have to do it, to try and save some money. Who will suffer, as always the working man and woman. The Fed will bail out the banks, but average man and woman will see the value of their pension shrink massively. Remember it was the Fed who encouraged the pension funds to buy bonds in the first place and now the Fed look the other way to their friends on wall street and bail them out, yet again. They will print more dollars and inflation will add to the loss in value to what the average man and woman has to spend as things get more expensive. We are stuck with people in the Government and Fed who you would let run a corner shop. The Dollar is close to losing its world domination as China, Russia, India, Brazil, Iran and the Gulf oil states are looking to put another world currency together that is not beholden to America, and they won't be subject to any sanctioning of Banks or trade. This administration has take America down a rabbit hole and there's no getting out of it. The Western democracy's are about to see a new world order arriving.

[@prateeksarin3555]

in theory some of small banks will fail because each bank has investments skewed towards a certain sector and sectors are up/dpwn in an economic cycle

[@rhoopai136]

Where are we heading a new financial system reassess banking structure and government regulations. 😮 Debt base system to a asset back system of banking.

[@markwriter2698]

The officers either took too much risk, or the officers don’t understand their business. The Fed gave ample warning of a rate hike.

[@8088I]

Amazing all the concern about Banks but nowhere near a similar concern for Economic Contagion from Student Debt implosion.

[@jayg6434]

We must stop making war on other nations and look after our own people. This is what happens when we shell out our tax dollars for wasteful foreign interventions.

[@8088I]

@@jayg6434 Wrong! Because, they never have a problem bailing out Wall Street, regardless.

[@Sapantaa]

Banks are an infinitely bigger deal if Universities and Collages where actually good this conversation on student debt wouldn't exist.

[@8088I]

@@Sapantaa You could say, if Bankers were actually good, these problems wouldn't exist.

[@harukuhitoki2991]

Maybe students should go to schools they can afford....its like when you get your first job and you buy a BMW or Porsche.

[@chadsmith976]

This guy's job... NOTHING TO SEE HERE... MOVE ALONG!!!

[@tomdallas3690]

Contained my arse.

[@curtgomes]

I not worried! Grandma Yellen inspires confidence! She says this is all transitory.

[@millermc74]

Was Aaron Klein on cocaine or is that his normal disposition?

[@saffderhussain5772]

Yes he made lot of money shorting silicon Bank

[@larrysmith4887]

We should give more money to Ukraine that will fix it!!!

[@serenity_now1999]

Arjun is so hot 🥵

[@PatrickBatefan]

No need to bailout, you pay price for acting smart

[@allanwilmath8226]

Banks shouldn't fail and banks should make huge amounts of money.

[@TheToledoTrumpton]

Actually this has a Government connection. The problem is that SVP assets are in long term low interest Treasury Bonds. If they have to liquidate them they will take a beating. The next problem comes on the 15th when the government has to sell new bonds, while everyone is ditching Treasury bonds. What interest rates are they going to have to put on them to attract buyers? And if they are higher that just makes the problem worse.

[@johnrusselman1364]

Clearly this issue is do to uninsured assets of businesses being underinsured to 250,000.00 per client. Why not appoint 25 banks with a 5 million dollar backstop each that cater to these startups?

[@jaym9846]

Why not give all depositors an equal percentage haircut based on their balance over the insured amount before the bank run leading to its demise? This make those in bad banks think twice before running. It will also make depositors think twice before putting money in such banks.

[@naidol]

This is a classic case of everyone living off other peoples money, with little added value-add. When interest rates change, these lazy people are left exposed.

[@chriswaters3442]

Skip this and listen to another one bites the dust.

[@kmensa5301]

A Brooking institute expert will defend anything stupid by gvt officials who think like them

[@aziggy252]

If the hit companies held at least some of their capital in #Bitcoin, they would increase their chance of survival significantly.

[@Samoasoa]

No one dared to call out the boomerang effect of Chip Act. The smart money knew this is coming as VC had stopped all their deposits.

[@Coroy2008]

Pretty much the ONLY, time I will like anything posted by CTV

[@Balthazar1963]

A whole lot of fast talking going on!

[@bromanceme]

Yet another bank run, cue Brookings bubble head with his pro bank bs.

[@richditlevsen4225]

Everyone I know cleared most of their money out of the banks.

[@harveypost1841]

I didn't feel that one coming but I knew to evil to b true...WAC

[@andresvalenzuela3817]

trust takes years to earn and lost in a day. people will act accordingly.

[@gijoe9703]

That's a lot of money

[@tombox2759]

Janet Felon lol

[@tomdallas3690]

Lol.

[@TokyoOlympics2020]

😂

[@sapien6230]

8:25 LMAO =D

[@anepartners9603]

Sonali is the best.

[@steeltormentors]

12:55 takes the cake "Cash deposhits"

[@mjdntn]

Watch for bailouts next week. The whole idea of the deposit insurance limit will be at stake.

[@nibiru3645]

bailouts or bailins...we will have to watch and see.

[@trendcatalysttraders8364]

thank you

[@winterheat]

41:35 imagine having a software engineering interview with sound quality that is even worse than this for an hour

[@thomasucc]

Get the taxpayers to pay

[@boukm3n]

*Aaron said* 😳😳😳😳😳

[@bharatichaudhari]

Nice

[@vicheakeng6894]

All of that....

[@sumanreddy9240]

Be safe to all the Arjuns out there. Be safe to all the Arjuns out there...Be brave in name and safe...Great interview.

[@CryptoCrunchOfficial]

This Aaron guy is unbelievable, he made it sound as if a bank failure is good without thinking of the investors who put their money there. I wish that the banks he invested in go bust too so he knows what it feels like losing money

[@nov1cegamer5]

If he has under 250k, he don't have to worry

[@adelinared1]

Yea it's not his money

[@fleischwolf82]

He is right. BTW, the ones mostly exposed are tech companies and indirectly the VCs. It the sector that benefited alot from free cash of the last years... Anyone is responsible to manage their risk... Use multiple banks, put some in state bonds etc

[@MajorPayne175]

15:12 ???🤔🤔🤔

[@funnyshish6305]

Taco Bell making its way out

[@sumanreddy9240]

Did you all know that the name Liam means strong willed warrior and protector and the Irish name Saoirse means freedom and liberty...

[@buckeye200175]

Bank accounts insured to 250 k which covers 95% percent of depositors

[@carpenter3069]

Under federal law, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be eligible for insurance by the Federal Deposit Insurance Corporation up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership. Course if you have loans through SVB, then you no longer need to pay.

[@rolandvencel4256]

Only 10% of accounts had 250k or under 😂

[@PS-ic4bp]

Dont be absurd - you still have to pay back your loans.

[@carpenter3069]

@@PS-ic4bp Who do you pay back to if the Bank is no longer there numbskull?

[@Unamatrix01]

Fantastic show, looking forward to the relaunch in the new 12:00pm time slot.

[@marvelcomiks8078]

Every single senior Bank Executive hired by SVB should be made to cough out their bonuses and salaries they have taken over the last 5 years.

[@jouleSansLoi]

Let it all burn! Mahahha!! More banks need to fail! Teach them that greed will be the death of them. Mahaha!!!

[@originalgangsta794]

Anyone who sold stocks and bonds in the past 3 months should be accountable for the assets and gains made. The stock's have been a huge part of the corruption that causes these epic failures

[@j2simpso]

Why? People buy and sell stocks all the time, it's called a market! So you're saying 70 year old retirees who are cashing out their IRA should be thrown in jail for doing so? An adult short on cash during these tough economic times who sells some stocks they own should be thrown in jail too? Gimme a break! If there is an issue it's the people who did the run on the banks insisting they withdraw their money. Where was the Fed to step in and back stop the bank run? Once you restore depositors trust in the institution the run goes away!

[@xraytech200]

It's not isolated incident. Fed required banks to own government bonds. They all in same boat.

[@SabbathSOG]

Where were the regulators?