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SVTPerformance's Chain of Restaurants
Road Side Pub
SVB is Now In the Hands of the FDIC
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<blockquote data-quote="Klaus" data-source="post: 16889550" data-attributes="member: 190070"><p>To the point about bank run. This is happening even if you do not see depositors line up in the street. </p><p></p><p>I have had call after call talking with groups that we finance about cash balances. When we fund, it goes into an account that our borrowers then use to disburse funds to their borrowers. </p><p></p><p>In normal times I did not care about this. Now I am having conversation after conversation requesting balance amounts, where it resides, when they will sweep it, what are triggers to return cash to us, etc etc </p><p></p><p> Seen Goodfellas? Remember the "**** You, Pay Me" line? This is the tone of my discussions. </p><p></p><p> "I think your balance is too high. **** you, pay me." </p><p></p><p>"I think your balance is outstanding for too long. **** you, pay me." </p><p></p><p>"I don't like the bank that you use. **** you, pay me." </p><p></p><p>etc. </p><p></p><p>This has the effect of sucking capital out of banks and into treasuries and money markets. </p><p></p><p>Everyone in my position is doing this as we speak.</p></blockquote><p></p>
[QUOTE="Klaus, post: 16889550, member: 190070"] To the point about bank run. This is happening even if you do not see depositors line up in the street. I have had call after call talking with groups that we finance about cash balances. When we fund, it goes into an account that our borrowers then use to disburse funds to their borrowers. In normal times I did not care about this. Now I am having conversation after conversation requesting balance amounts, where it resides, when they will sweep it, what are triggers to return cash to us, etc etc Seen Goodfellas? Remember the "**** You, Pay Me" line? This is the tone of my discussions. "I think your balance is too high. **** you, pay me." "I think your balance is outstanding for too long. **** you, pay me." "I don't like the bank that you use. **** you, pay me." etc. This has the effect of sucking capital out of banks and into treasuries and money markets. Everyone in my position is doing this as we speak. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
SVB is Now In the Hands of the FDIC
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