The First Floor View

Jaydan Morse I'm short. I write. I watch people. Sometimes I even think. I can't reach my things when my tall asshole friends put them in trees :(

[json-derulo]

Just gonna go ahead and put this here since I have a feeling some folks are gonna need the reminder

[afloweroutofstone]

I know no one on Tumblr follows finance stuff but there are some very funny things happening in bank world today

[afloweroutofstone]

Silicon Valley Bank (SVB) was a bank founded in 1983 that in recent years has specialized in banking for the tech industry, crypto scams, and VC/PE finance bros. They had accumulated more than $200 billion in assets and established branches in 10 countries. Customers included tons of different crypto projects; tech companies like Roblox, Vimeo, and Roku; and major financial institutions like Bain Capital.

In 2018, congress passed the EGRRCPA, a law which loosened regulations on banks like SVB.

On March 6, 2023, Forbes Magazine listed them as one of the best banks in the US. Three days later, investors launched a bank run on SVB due to news of a downgrade in their credit rating, and the bank collapsed almost instantly. They've now been put into receivership by a government regulator, which is basically when a large company has fucked up so bad that it's put into the possession of a third party while they figure out what to do with it.

Now there's a bunch of rich fucks from Silicon Valley going crazy that they're almost certain to lose money from this whole thing, so they're putting in overtime right now trying to build a narrative for a government bailout. A lot of the most insufferable business bros are pulling their hair out on Twitter right now.

Here's multi-millionaire David Sacks talking about US aid to Ukraine last October

And here he is late last night

It's especially funny to watch all of the investors who said that loose monetary policy was destroying the US come to realize that they were the ones benefiting most directly from loose monetary policy now that interest rates are rising and a lot of tech/crypto scams are falling apart.

[mibbs-jk]

has there ever been another major bank run that has affected such a high concentration of wealthy people without really affecting the average person?

[too-short-to-see]

Wait but there really are some Wonky Things Happening In Finance Lately.

[wolfythewitch]

sing, o muse, of the rage of achilles

[moonlitswims-deactivated2024010]

by Holly Warburton

[elioli-art]

Instagram: https://www.instagram.com/elioliart/

Twitter: https://twitter.com/ELIOLIart

[thereisnone]

[salamispots]

Starry Seas for Redbubble

[r0sebuddy]

Ocean of Fire by Inga Nielsen

[lisaminnci]

Whisper of the Heart 耳をすませば 1995 | dir. Yoshifumi Kondō

[elioli-art]

Nothing too exciting here ! Just playing around with clouds . ☁️

[theartofanimation]

Jungsuk Lee  -  https://endmion1.blog.me  -  https://www.redbubble.com/es/people/endmion1  -  https://www.youtube.com/channel/UCd82OmbzDm-R0q3xz3wc-rQ/featured  -  https://grafolio.naver.com/endmion1  -  https://www.instagram.com/endmion1  -  https://www.facebook.com/endmion  -  https://twitter.com/endmion5

[juliaon]

[the-eternal-moonshine]

[elioli-art]

A personal idea!

[nirvanah]

Erin Hanson "Radiant Light" 2019

[nelsgon]

[bakwaaas]

Matt Rockefeller / Georges Beuville / Andrea Serio / Oamul Lu / Kim Hyerim (Rimdraw)