Saint86 Posted 14 March, 2023 Share Posted 14 March, 2023 Heard a few things over the last week or so regarding strain on certain American banks - generally those used by the tech and crypto sectors. The recent run on SVB has obviously made it into the news this week: https://www.bbc.co.uk/news/world-us-canada-64935170 Is this the wheels slowly turning on a new financial crash? Seems to be significant for cryptocurrencies, but even extends to medium tech firms such as Roku. Link to comment Share on other sites More sharing options...
Turkish Posted 14 March, 2023 Share Posted 14 March, 2023 (edited) I remember when Lehman Brothers went bust in 2008. Luckily they weren't my customer but they had ordered about a couple of millions of dollars worth of networking hardware which was sitting in a supplier warehouse when the news broke. cant remember if it was before or after but Northern Rock went that year as well, they were the go to bank IIRC if you had crap credit, i think they even let you self certify your earnings. Incredible really the lack of governance. Isnt part of saints sponsorship deal to be paid in Crypto? Edited 14 March, 2023 by Turkish 1 Link to comment Share on other sites More sharing options...
LGTL Posted 14 March, 2023 Share Posted 14 March, 2023 Northern Rock were giving 110% mortgages to people with just about zero checks. Incredible that it was only 15 years ago, feels like a different world. 1 Link to comment Share on other sites More sharing options...
Turkish Posted 14 March, 2023 Share Posted 14 March, 2023 1 hour ago, LGTL said: Northern Rock were giving 110% mortgages to people with just about zero checks. Incredible that it was only 15 years ago, feels like a different world. That’s right they were I forgot about that, had a relative who was with them, they had a mortgage with Northern Rock for over 10 years and it took them that long to get down to owing what they bought the house for, insane. Link to comment Share on other sites More sharing options...
Saint86 Posted 15 March, 2023 Author Share Posted 15 March, 2023 BBC News - Credit Suisse shares plunge as bank fear widens https://www.bbc.co.uk/news/business-64964881 Link to comment Share on other sites More sharing options...
Saint86 Posted 24 March, 2023 Author Share Posted 24 March, 2023 (edited) This is continuing to rumble along in the background. Feels like it has shades of the 2007/08 crash where a few things were going on just under the radar before Lehman and black rock eventually went. https://www.theguardian.com/business/live/2023/mar/24/bank-of-england-chief-warns-further-rate-hikes-firms-raise-prices-council-tax-retail-sales-business-live Edited 24 March, 2023 by Saint86 Link to comment Share on other sites More sharing options...
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