Nervous on banks?

[rickyb]

arrest the wall street CEOs!

we will not forget your devastating fraud!!!

 

[bacha29]

I believe NYCB bought Signature Bank last year.

You're correct . It was Signature Bank in Silicon Valley. It's my understanding that as long as the total assets they held stayed under a certain level which I believe and don't quote me 50 million the formula under Dodd Frank which determined how much in cash reserves they had to maintain was fairly easy to maintain. But when their assets exceeded 50 million which came about to a certain degree by it's acquisitions an entirely different formula was in play in order to establish cash reserves that was much more stringent than it is for sub 50 million banks.

 

[bacha29]

Three private equity groups have stepped up with 1 billion of equity to stabilize the bank. One of the firms his headed by Steve Mnuchin. The bid is around $2.50 per share.

Steve Mnuchin...Why am I not surprised? Rest assured he's not doing this to help out existing shareholders.

 

[Over70irregs]

arrest the wall street CEOs!

we will not forget your devastating fraud!!!

We always forget. Shame