Great insight. The wealthy elite depositors in Silicon Valley were bailed out beyond the $250k insured level. Spin that however you want to make you feel better about the party of the poor and disadvantaged.
Sweet peaceful Idaho
- Thread starter Loyal Coug1
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You mean to tell me for example a Republican builder who opened his account 10 years ago and had 450k on deposit because he ran his biz thru there and it is right down the street from his office is one of the elite depositors .
Or someone who needed funds to make payroll ? You know they are all wealthy liberals . Amazing insight .
I'm not a Republican, so nice try Ed.
Are you going to play dumb (again) that an overwhelming majority of these wealthy tech Silicon Valley were the depositors who were bailed out? Hmmm....
Dumb? Not really . I have a friend who works for a start up . A lot of non rich liberal and conservative folks used svb bank for their banking needs. My friend while made a good living hasn’t been paid in 14 months . Having svb bank going down only makes it worse for a lot of people including liberal and conservative
Didn’t think of them. I am thinking if they have tons of money those Dad’s would have enough upstairs to hire a good attorney . But we can add them to the groups I am thinking about .
The FDIC deposit limit of $250K is woefully below what it should be. The last time it was raised was in 2008.
Relatively normal small to mid-market businesses require that kind of cash deposits just to operate and meet ongoing payroll and supplier obligations.
Its not just wealthy elite depositers who got 'bailed out'. Am currently involved with an SVB customer who raised seed money from various investors. The company had no debt or derivative exposure or otherwise 'risky' relationship with SVB - just a basic vanilla checking account and about a $400K balance from their remaining seed money.
It was a tense few days as things got sorted out. Otherwise, their 4 employees would have been out of jobs.
The FDIC did the right thing here.
Agree - The 250k needs to go way up.
If they didn’t protect the depositors there would have been a mass exodus from regional banks to the big 4 banks still left. BofA etc.
That would not be a good thing for this country.
My smartass comment was actually just a fishing effort to find out what groups you were talking about since I had no idea what groups you were referring to.
Divorced Dads don't need a good lawyer in Washington, a no fault state. 50/50 split on net assets, child support is determined from a chart based on income. It's just math.
I should know, I've been through 2 of them and it is pretty simple. I didn't waste money on an attorney either time. First one cost $300 for that ex, which we split. 2nd ex wasted several thousand on a leach that tried to complicate things, when I/we had the split all figured out. F-ing lawyers.
Not how my wife’s went. But it didn’t help her douchebag ex’s cause when he refused to show up…and didn’t pay his lawyer.
Had two friends get divorced in WA. First one went similar to what you say yours did. They sat down and agreed to who got what, and all the values of accounts and possessions, and then filed the necessary paperwork like rational human beings.
Other friend got screwed in the butt six ways from Sunday. She got alimony, child support, the house, a majority portion of his 401k, the better vehicle, plus all of her asshole of an attorney's fees paid. Her attorney kept filing things with the court that forced his attorney to respond, she and her piranha contested EVERTHING! At the end of it he paid enough in attorney fees to fully fund college for at least one of the two kids college, maybe both. Not sure how that all equates to 50/50 because of no fault divorce laws.
WTF? Unless they changed the law, there is no alimony in Washington. Child support is a given, and the wife gets custody 99% of the time. The 1% being if she's a crack whore.
Sorry for your buddy. F-ing lawyers. Yeah, it's 50/50. How he managed to get F-ed is beyond me. My 2nd ex got the house, lake cabin, better truck, etc. The retirement account and bank cash split was just math The only thing I should have fought more for is a couple of my guns. And probably an adjustment for all the furniture that was in the house. I did get the truck camper.
But, it was my fault so I did what was right. The one thing I kind of regret is that since she had a fancy job and basically made twice as much as me for all those years she wanted 2/3 instead of 50/50. Again, it was my fault (you can guess why) so I agreed to it. Cost me $400,000 but it was the right thing to do.
