Member Info for nomlungu

Mind-blowing how many banks are suspended

https://www.nasdaqtrader.com/trader.aspx?id=tradehalts

Another meltdown steam

https://www.youtube.com/watch?v=BugZ-zo8nB8

I used to listen to John Peel...

After receiving a recommendation from the boards of the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, Treasury Secretary Yellen, after consultation with the President, approved actions to enable the FDIC to complete its resolution of Silicon Valley Bank in a manner that fully protects all depositors, both insured and uninsured. These actions will reduce stress across the financial system, support financial stability and minimize any impact on businesses, households, taxpayers, and the broader economy.

100% bailout in US

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm

Not long until Asian markets open...

Steve Lookner doing a stream on SVB

https://www.youtube.com/watch?v=S9PSm41XdIM

Funny how they like cancel culture when it suits them...

Bloomberg 'live' blog

https://www.bloomberg.com/news/live-blog/2023-03-12/svb-fallout-spreads?srnd=premium-europe

He would probably do a better job than most we have had recently; Starmer 4 Attorney General; the Naked Scientists as Health Minister...

Going to be interesting later tonight / tomorrow morning and then when the US Markets settle down.

https://www.dailymail.co.uk/news/article-11849813/Billionaire-investor-Bill-Ackman-warns-banks-collapse-tens-thousands-jobs-lost.html

If there is no buyer announced tonight after the FDIC auction then Eastern Markets are going to start a wave of panic.

https://www.bloomberg.com/news/articles/2023-03-12/fdic-auction-for-svb-said-to-be-underway-final-bids-due-sunday

Will the Chancellor have announcements to make before the UK Markets open?

He may have paid for the upgrade but he is benefitting from the price cap - why are the public subsidising the cost of heating pools, stables or garages for the rich?

https://www.theguardian.com/politics/2023/mar/12/rishi-sunak-has-electricity-grid-upgraded-to-heat-his-private-pool

If you ever needed a 'bigger' example of why over reliance on NPK fertilisers is a 'growing' problem then this is it at 5000 miles accross.

"A giant seaweed bloom that can be seen from space threatens beaches in Florida and Mexico. Seasonal sargassum blooms have exploded in the tropical Atlantic over the past decade and more. This year's is already staggeringly large."

https://www.nbcnews.com/science/environment/sargassum-seaweed-threatens-beaches-florida-mexico-rcna73862

5000 miles - London to Cairo and back with plenty spare.

The end of year trading update should have told us most of what we need already... But the July mid-year update [or any other trading update for the current financial year] will be interesting.

Jon Sopel

https://twitter.com/jonsopel/status/1634553134654652419

'This is so interesting. And just shows the absurd inconsistencies. Just read final sentence in this adjudication, and ask is audience not able to do same with Gary Lineker?'

Trek,

It was on "Hacker News" which is a news board run by Y-Combinator

https://news.ycombinator.com/

Y-Combinator are a start-up investor who have invested in around 4000 businesses who now have a combined value of $0.5 trillion. Any registered user can post a link and other users upvote them. The first page of links [30 in total] is part of my daily reading list; there are often some interesting links / discussions about the links. The archive of links is also searchable.

Highly recommended - it is not all geek computer stuff.

SVB Financial: Blow Up Risk

https://seekingalpha.com/article/4565388-svb-financial-blow-up-risk

Written last year...

lti,

'Some people just like endless moaning - what a miserable existence .'

Some say that it is more miserable to moan about other people moaning?

As long as you do not source your truth from Truth Social...

https://news.sky.com/story/bank-of-london-weighs-rescue-bid-for-uk-arm-of-silicon-valley-bank-12830933

https://thebankoflondon.com/

New to me as well - my eyes read London and my brain misunderstood BoE.