sandy beach Posted April 28, 2023 Report Share Posted April 28, 2023 Housing in Austin 20% off! "When you see clickbait headlines Well the Austin market has crashed... it kind of has!" Link to comment Share on other sites More sharing options...
sandy beach Posted April 28, 2023 Report Share Posted April 28, 2023 Perfectly normal: FDIC to place First Republic under receivership https://www.reuters.com/business/finance/first-republic-shares-gain-hopes-rescue-deal-2023-04-28/ Link to comment Share on other sites More sharing options...
fxfox Posted April 29, 2023 Report Share Posted April 29, 2023 8 hours ago, sandy beach said: Perfectly normal: FDIC to place First Republic under receivership https://www.reuters.com/business/finance/first-republic-shares-gain-hopes-rescue-deal-2023-04-28/ Bullish. 1 Link to comment Share on other sites More sharing options...
fxfox Posted April 29, 2023 Report Share Posted April 29, 2023 Link to comment Share on other sites More sharing options...
sandy beach Posted April 29, 2023 Report Share Posted April 29, 2023 6 hours ago, fxfox said: This is going to get super-expensive for the banks to cover. They probably need a new financial transaction tax to fund the FDIC. Tax overnight repos? It will be "interesting" to see the downstream effects of this resolution. Link to comment Share on other sites More sharing options...
DrStool Posted April 29, 2023 Author Report Share Posted April 29, 2023 7 hours ago, fxfox said: Quote Every FDIC seizure of a bank of the scale of FRC is equivalent to an immediate $100-150Bn QE on Fed's balance sheet within a day or two (via special loans) Stealth QE5 via monthly bank failure. And my face is blue. It's not the same as QE. Not even remotely. Enjoy the Market Mirage Now Because We’re Really In a Desert April 24, 2023 The Fed’s Circle Jerk… Is ‘Twerking? LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS APRIL 18, 2023 1 Link to comment Share on other sites More sharing options...
sandy beach Posted April 29, 2023 Report Share Posted April 29, 2023 2 hours ago, DrStool said: And my face is blue. It's not the same as QE. Not even remotely. Enjoy the Market Mirage Now Because We’re Really In a Desert April 24, 2023 The Fed’s Circle Jerk… Is ‘Twerking? LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS APRIL 18, 2023 Spot on! Link to comment Share on other sites More sharing options...
sandy beach Posted April 29, 2023 Report Share Posted April 29, 2023 Taiwan sinks into recession, economy contracts by 3% in the first quarter - worse than expected. Link to comment Share on other sites More sharing options...
sandy beach Posted April 29, 2023 Report Share Posted April 29, 2023 Stress Builds as Office Building Owners and Lenders Haggle Over Debt The health of banks and cities and the nation’s economy could hinge on high-stakes negotiations over commercial real estate loans. https://www.nytimes.com/2023/04/27/business/economy/office-buildings-banks-economy.html?smid=nytcore-ios-share&referringSource=articleShare Link to comment Share on other sites More sharing options...
sandy beach Posted April 29, 2023 Report Share Posted April 29, 2023 Perfectly normal: Link to comment Share on other sites More sharing options...
fxfox Posted April 30, 2023 Report Share Posted April 30, 2023 Yes right. I remember that part of the press conference very well. Poopwell lied, 100% sure. 1 Link to comment Share on other sites More sharing options...
sandy beach Posted April 30, 2023 Report Share Posted April 30, 2023 April 27 – Wall Street Journal (Peter Grant and Jim Carlton): “Before the pandemic, San Francisco’s California Street was home to some of the world’s most valuable commercial real estate. The corridor runs through the heart of the city’s financial district and is lined with offices for banks and other companies that help fuel the global tech economy. One building, a 22-story glass and stone tower at 350 California Street, was worth around $300 million in 2019, according to office broker estimates. That building now is for sale, with bids due soon. They are expected to come in at about $60 million… That’s an 80% decline in value in just four years. This is how dire things have become in San Francisco, an extreme form of a challenge nationwide.” Link to comment Share on other sites More sharing options...
sandy beach Posted April 30, 2023 Report Share Posted April 30, 2023 April 26 – Financial Times (Eric Platt, Sujeet Indap and Harriet Clarfelt): “When a debt-laden company gets into financial distress, the fights between creditors are often ugly, but investors in leveraged loans could usually watch from the sidelines while more junior claimants haggled over what they would be repaid. Not any more. A recent court decision threatens to escalate creditor-on-creditor violence in a normally sedate $1.4tn corner of the financial markets that is critical to funding big private equity deals and the operations of lowly-rated businesses. The ruling, in the Texas bankruptcy case of Serta Simmons, blessed a controversial 2020 debt swap that only a slim majority of the mattress maker’s senior lenders had approved. Other holders of the company’s loans… were pushed further back in the queue to be repaid and the value of the loans they held crashed when Serta ultimately went bust.” Link to comment Share on other sites More sharing options...
sandy beach Posted April 30, 2023 Report Share Posted April 30, 2023 April 28 – Reuters (David Milliken): “The Bank of England estimated… its quantitative easing programme would rack up a total financial loss of around 100 billion pounds ($125bn) by 2033, which will need to be funded by the government. In the short term, the BoE expects the government will need to pay it almost 30 billion pounds a year…” Link to comment Share on other sites More sharing options...
Jimbo Posted April 30, 2023 Report Share Posted April 30, 2023 THE COUNTRYWIDE RULE First republic. Why did the big boys refuse to bite...... They remembered the Countrywide rule: The rule is: Don't buy a busted bank buy its good assets and leave the FDIC with the bad ones. They saw what happened to BoA when the bought Countrywide Sued into the ground....fined into to the ground. That was their reward for rescuing Countrywide.... Total cost of buying Countrywide....$90 Billion. Busted banks arn't cheap. In fact they are the most overvalued banks in America. 1 Link to comment Share on other sites More sharing options...
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