IP: SVB caretaker urges depositors to come back
The head of Silicon Valley Bridge Bank, created by US regulators to succeed Silicon Valley Bank after it collapsed, on Tuesday urged fleeing depositors to return with their money, as large banks see an influx of funds.
Silicon Valley Bank — a key lender to startups across the United States since the 1980s — collapsed after a sudden run on deposits, prompting regulators to seize control Friday.
“The number one thing you can do to support the future of this institution is to help us rebuild our deposit base,” chief executive Tim Mayopoulos said in a statement, “both by leaving deposits with Silicon Valley Bridge Bank and transferring back deposits that left over the last several days.
He added: “We are doing everything we can to rebuild, win back your confidence, and continue supporting the innovation economy.”
The Federal Deposit Insurance Corporation has said it will cover all SVB depositors, including beyond the usual cap of $250,000 for FDIC protection.
“We are making new loans and fully honoring existing credit facilities,” Mayopoulos said. more
I’m sure they will get right on it.
I’m thinking for no other reason than just the hassle of transferring funds but also the uncertain times we live in, it ain’t going to happen.
youtu.be/Hn-enjcgV1o
🙂
Gee, nothing about changing their business model, their hiring practices, or their loan structure to avert an instant reply of the last time
Where are the banks that cater to normal country-loving folks ,”Welcome to Patriot Bank, where we treat your money as if it was our own, where we hire based on merit and not some dopey diversity chart. No CRT training here. We want people motivated by good service and good business principles and not by grievance politics. Our commitment is not to the environment or equity but to the customer who demands a judiciary that has his best interests at heart. You want woke up, go someplace else. We like white people, we like all people. We measure a man by his beliefs and his accomplishments, not by his skin color or his gender perversions. New depositors get an American Flag and a pocket copy of the Cosntitution, revere them both”.
Old Glory Bank
Founded by John Rich, Larry Elder and Ben Carson
About Tim Mayopoulos… Whitewater, dismissed from his job, affair… I’d trust him with my money…NOT!
After law school, Mayopoulos clerked for the Honorable William C. Conner of the U.S. District Court for the Southern District of New York (1984-1986).[15] He then worked for the law firm Davis Polk & Wardell (1986-1994), before serving on the Whitewater investigation as part of the Office of the Independent Counsel (1994-1996).
From 1996-2000, Mayopoulos was managing director and associate general counsel at Donaldson, Lufkin, & Jenrette, Inc. He served as managing director and senior deputy general counsel at Americas of Credit Suisse First Boston (2000-2001) and as managing director and general counsel for Americas of Deutsche Bank AG’s Corporate and Investment Bank (2002-2004). He became executive vice president and general counsel of Bank of America in 2004.[16] In 2009, Mayopoulos was dismissed from his job as general counsel at Bank of America.[17][18]
Fannie Mae
Mayopoulos joined Fannie Mae in 2009 as executive vice president, general counsel, and corporate secretary. In 2010, he became chief administrative officer for Fannie Mae. He was named president and chief executive officer of Fannie Mae in 2012.[19] Mayopoulos worked to move Fannie Mae’s long-time headquarters to the Midtown Center in Washington, D.C.[20]
In July 2016, Fifth Third Bancorp, Ohio’s largest bank, dismissed its general counsel Heather Russell, because she was having a romantic relationship with Mayopoulos, who was separated from his wife at the time. The company stated that it believed this represented a conflict of interest.[21][13] Fannie Mae’s Board of Directors and Fannie Mae’s regulator and conservator, the Federal Housing Finance Agency, concluded that the relationship was not a conflict of interest. During his tenure at Fannie Mae, the company was profitable on an annual basis and delivered more than $167 billion in dividends to taxpayers.[22]
In June 2018, Fannie Mae has announced that by the end of the year, CEO Timothy Mayopoulos would step down from his post. The company has said that Mayopoulos would remain in his position until he leaves the business. The board of Fannie Mae said that it would continue the hunt for its replacement.[23]
In December of 2022 Fox News Dana Perino and the Gaspers was pushing Bitcoins, Digital Currency, Roblox Bux and certain Charities. Remember? It was documented for the Record.
Yesterday, with our own eyes, the Gaspers have a NEW VENTURE.
Visual Assistent APPS. (**for the Blind. Uh Huh) PS: Her husband does FREE MEDICAL CRUISES for NGO supposed Charity Trips that get her a Free VIP Cabin, All the Food They Can Eat, Travel to and from and everywhere, and top it off with a cut of all the glasses and pills and exams administered on the Charitable, Doctors without Borders, Africon Cruises run every year during peak vacation season in the Hamptons and Beyond.
So what is the purpose of this new APP?
A CAPTCHA CREW.
They need eyeballs to generate captcha answers, for a fee.
Thats how Gaspers and Money Grubbers at FOX NEWS Roll.
FOX Money Graspers will even run Go Fund Me’s for a cut.
“The number one thing you can do to support the future of this institution…. ”
What a dumbfuck! It’s YOUR ‘thing’ to support your institution. FORMER customers of the bank have no reason to give a rat’s ass about your institution.
Just market we will always get bailed out no matter what we do with our woke policies and support of the globalists who are our main customers.
“We promise we’ll use lube when we fuck you next time”
Used to get a toaster, at least!