Everything posted by DalTxHornFan
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2023 bank failures
I've been talking to lots of people in the last 24 hours, so I apologize if I am repeating myself, but to the SVB Asset/Liability Committee, I ask:
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2023 bank failures
Understood. But HTM classification is inherently subjective. That much difference between book and fair value relative to their reported equity is pretty squishy IMHO. You have to evaluate the ability of the company to actually achieve the HTM. I would love to see their plan for that.
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2023 bank failures
Per page 15, their HTM securities were on their books at $91.321 Billion, Fair Value was reported as $76.169 Billion. That is a delta of $15.152 Billion. Does anybody think that the current interest rate environment is "transitory"? I think that there are lots of bankers, lawyers and accountants working this weekend. Monday will likely be a bloodbath.
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2023 bank failures
Don't have it handy, but I do believe it was part of a planned/scheduled series of sales.
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2023 bank failures
Even "hotdog or not" startups can/do hire virtual CFOs that are aware of risk issues. This is pretty basic stuff.
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2023 bank failures
SVB is saying there that they have an embedded $15B loss!
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2023 bank failures
I've been out of this game for a while, but I used to have an insurance industry client that had an arrangement to spread it's 100's of millions of $ all around the country in CD's at the insured limit. Another client had a requirement for collateral against their uninsured deposit balances. I assume those options are still available, but way too complicated for the VC/Tech guys?
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2023 bank failures
I have it on reliable authority that many VC funds and start-ups are making capital calls this weekend due to the SVB situation.
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2023 bank failures
I don't disagree with the take that FDIC/OCC was asleep at the switch, but so was bank management. Bond portfolios were bound to be severely impacted by this rapid increase in interests rates. Perhaps they listened too much to those that said it was "transitory" -- but that many basis points just cannot be transitory.
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Your unpopular music opinions
- Top Chef - London
Can you imagine? Then to be followed by Top Chef: Vic Mackey's?- Texas BBQ
OK, now let's talk about the pickles and the tortillas. Maybe the beans? P.S. I do like the bread there and whatever beer I bring there!- Markets still falling like whoa
And they thought that your IOLTA trust account wasn't in SVB, as well?- 2021 - Is inflation finally back in the conversation?
Nice. Do you think that they just made up that data? Ad hominem attacks are always so persuasive! Thanks.- “Perfect” songs
And even played at the correct tempo!- Texas BBQ
All good, just keep your expectations in check and you'll have a fun time there.- 2021 - Is inflation finally back in the conversation?
Weird. I would have expected a $200 Billion bank to have an active ALCO committee. Apparently not.- 2021 - Is inflation finally back in the conversation?
This is a pretty good analysis of SVB. (Of whom, KPMG issued a clean opinion on their financial statements the Friday before last.) https://www.zerohedge.com/markets/300-billion-reasons-why-svb-contagion-spreading-broader-banking-system- Downtown Projects
Bouldin Creek Neighborhood Association exploding in 3,2,1... Hotel Rezoning Could Bring New Height to Austin’s South Central Waterfront https://austin.towers.net/hotel-rezoning-could-bring-new-height-to-the-south-central-waterfront/?pro=caitlyn@towers.net- 88th Texas Legislature
I was born in Port Arthur, but thankfully not raised there! Carry on.- Ben Kweller's kid died
Sad story. This was the obit that ran in the newspaper: Our son Dorian Zev Kweller died in a freak car accident on Monday, February 27th, 2023. He was 16 years old. He was going the speed limit, phone in its holder, seatbelt on, doing everything right. He was freestyle rapping to his favorite instrumental playlist when an oncoming truck drifted towards him. Dorian swerved into the shoulder to avoid the oncoming truck. While in the shoulder, a downed broken tree branch from the recent freeze came through the window and hit him on the right side of his head. He died instantly. The airbags didn't go off, the car wasn't overly damaged. He would've walked away from this had it not been for that one branch. When Dorian was born, our main wish for him was to have a zest for life. That wish came true times a hundred. Our baby was riding high until his final minute on earth. https://www.statesman.com/obituaries/paco0441480- Could You Move to a Small Town
I've had deer leases in McCulloch, Menard, and Schleicher counties continually for the last 25+ years or so. Good people out that way. I had a fuel pump issue en-route in Llano and a battery issue en-route in Brownwood. The folks that I encountered those days could not have been nicer or more helpful. "Three dudes get out, all there are bow-legged, and wearing real deal worn spurs" The cowboy life ain't for sissies!- Could You Move to a Small Town
Even the real shit hole towns in Texas are blessed with something of an economy. There are lots of places in the Midwest/Appalachia/Northeast that really have nothing going on at all. Ghost towns in the making.- Texas BBQ
Just drove through Luling last week. There is definitely a billboard war going on down there about BBQ! Terry Black's had a full parking lot.- New Orleans Food and Drink Thread
The last time I was at Commander's for Friday lunch (pre-pandemic), I would guess that about half of the judges in New Orleans were in attendance. The rest were lawyers. Not much justice happens on Friday afternoons in New Orleans, apparently! - Top Chef - London
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