Becker has also caught the attention of the authorities after he sold shares in SVB worth nearly $30 million over the past two years—with deals going through in the days before the bank disclosed a $1.8 billion loss on a portfolio sold to Goldman Sachs. Becker’s sale of $3.6 million worth of shares went through on Feb. 27 according to figures from Smart Insider, selling at prices ranging from $287 a share to $598 a share.
He’s not the only one—reports from CNBC claim execs at the business sold shares worth a total of $84 million in the past 24 months. The company’s CFO Daniel Beck offloaded around a third of his stake in the business on the same day Becker’s sale filtered through—a total of around $575,000 worth of shares.
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Bank runs still going on. Yellen and JPow can’t go on with these half ass measures. Need to do unlimited guarantee for all banks.
Highly speculative, but no financial crisis ends without Buffett making banks.
https://twitter.com/fuzzypandashort/status/1636786948949016576?s=46&t=e2DAkaxaGRhpAWcndjTw-g
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More like they flew there begging for money.
Financials’ charts look really horrible.
Metlife broke a long term support line that’s been active since 2021:
Citi is near its Covid low? What’s going on?
A financial crisis is still brewing.
All financial crisis will eventually break the banks and this feels just like the beginning.
Yeah next time SVB management will do their risk management discussions and decisions around water coolers. Result will be very different. 
Zoom calls must have brought Lehman and Bear Sterns down last time.
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Gold was up almost $70 today. Could be triple witching but usually when it makes a move like that someone or several someone’s know something bad is coming. Gold rocketed up in 2007 long before the full details of the subprime mess were public.
Awesome. I’m sure it’ll make a huge difference. They’ll be trying to create sound bites that appeal to their base instead of doing anything useful.
Keep hiking JPow.
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Depending on what do you think Knox is implying.
a. Insurance companies could face liquidity crisis. Respond: No because no bank runs. Possible liquidity crisis only for exceptionally high claims due to Black Swan events that even re-insurance can’t cover. Btw, AIG is in re-insurance business.
b. Insurance companies might have negative equity: Respond: Probably. Rising high interest rate environment always create such situation for banks and insurance companies.
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JPow won’t change his plan. Hike 25% and pause, probably start reducing rate end of the year/ early next year. He has broadcasted this plan (hidden in plain sight) moons ago. So far, for many months, no change in plan. Doubt he would cringe for this last one. So far, his plan works splendidly. Inflation coming down, RE prices are declining and those undesirable (reckless) behaviors are reversing (punished).
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Correct.
That’s next-level stubbornness and ignorance. It just shows how academic and divorced from reality the fed members are.
For the banks to publish the letter publicly implies Yellen and JPow have said no in private. Not looking good.
Next shoe to drop? Office vacancy rate is thru the roof because of work from home. Will there be a wave of bad CRE loans?
What did people think would happen with this pace of rate increases? I think this is the biggest driver of yield curve inversion. It’s way too risky to own long-dated bonds right now, since no one knows the terminal rate. People are selling them like crazy and buying short-dated bonds. That’ll invert the yield curve.