"No REALLY, we're doing fine" ~ every bank right nowSubmitted by JPowsSecretlover t3_127ifsn in wallstreetbets
computermademedoit t1_jefb8hp wrote
the big banks are unironically fine
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yes some took some losses on the same bullshit that SVB was doing - buying long term bonds bc they were greedy and the returns were better than short term bonds
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but the big boys like BAC arent as regarded as SVB. They took some losses, but not catastrophic.
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the deposit runs will probably actually help them. BC where are you taking that money? under your mattress?
no what you likely are doing is going and buying a CD at 5% or putting it in some 3.5% - 4% savings account at a big bank
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overall the banking system is basically fine.
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this guys got some great videos on it, as always -
https://www.youtube.com/@PBoyle/videos
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Personally i bought BAC at around 26.5.
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I mean look at this BAC chart, this shit goes back all the way to 2008. just a fucking escalator up and trading within that range for 15 years. If you arent buying it here, at the bottom of that range, personally I think you're a moron populist who just wants to see the banks fail bc that plays into your doomer philosophy. And you're dumb doomer shit is costing you opportunity. but thats just my take.
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