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Talk:2023 United States banking crisis

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This is an old revision of this page, as edited by 41.234.25.236 (talk) at 21:40, 13 March 2023 (→Discuss: new section). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Cryptocurrency

@Red-tailed hawk: I feel like the article puts too much emphasis on the crypto exposure. SVB is mostly a startup-oriented bank, which while include crypto companies does not mean they invest in bitcoin. Same with Signature, though Silver Lake indeed is notorious for it. Still, SL is the smallest of the three collapses. Juxlos (talk) 04:24, 13 March 2023 (UTC)[reply]

This is still very much a work in progress. I can slap the {{under construction}} tag back on to indicate this. — Red-tailed hawk (nest) 04:35, 13 March 2023 (UTC)[reply]

@Red-tailed hawk: I agree. Here https://themacrocompass.substack.com/p/banking-crisis is a nice article talking about the mechanics of why SVB failed and it has nothing to do with cryptocurrency or investments in tech start-ups. Please DYR as the current version doesn't really hit close to the reality of the issues. "Yellen described rising interest rates, which have been increased by the Federal Reserve to combat inflation, as the core problem for Silicon Valley Bank. Many of its assets, such as bonds or mortgage-backed securities, lost market value as rates climbed." https://www.afr.com/companies/financial-services/yellen-pledges-help-for-svb-depositors-but-says-no-to-bailout-20230313-p5crih This also aligns with what the first link from macrocompass talks about. — Preceding unsigned comment added by 220.244.247.224 (talk) 07:19, 13 March 2023 (UTC)[reply]

Did you know nomination

The following is an archived discussion of the DYK nomination of the article below. Please do not modify this page. Subsequent comments should be made on the appropriate discussion page (such as this nomination's talk page, the article's talk page or Wikipedia talk:Did you know), unless there is consensus to re-open the discussion at this page. No further edits should be made to this page.

The result was: rejected by BorgQueen (talk) 14:24, 18 March 2023 (UTC)[reply]

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Created by Red-tailed hawk (talk). Self-nominated at 18:32, 13 March 2023 (UTC). Post-promotion hook changes for this nom will be logged at Template talk:Did you know nominations/March 2023 United States bank failures; consider watching this nomination, if it is successful, until the hook appears on the Main Page.[reply]

  • Hi Red-tailed hawk (talk), article started 12 March and exceeds minimum length; cited inline throughout to what look to be reliable sources; I didn't notice any overly close paraphrasing in a spotcheck on sources, Earwig looks to be down for me at the moment but happy to AGF on this article by a trusted user (and WP:COPYCLERK!); hook fact is interesting, mentioned in the article and checks out to Reuters article cited; a QPQ has been carried out. Looks good to me, a fine article on a current event - Dumelow (talk) 11:28, 15 March 2023 (UTC)[reply]
Thank you for the article. My concern here is the stability of the article, but I do not see any edit wars. Bruxton (talk) 14:10, 15 March 2023 (UTC)[reply]
@Bruxton: What caused the unpromotion? — Red-tailed hawk (nest) 20:05, 17 March 2023 (UTC)[reply]
@Red-tailed hawk: WP:DYKCRIT 1c - can't be both ITN and DYK. Juxlos (talk) 04:53, 20 March 2023 (UTC)[reply]


Silvergate has not failed or closed

A bank fails when its regulator orders the seizure of its business, and it closes when it stops serving clients. Neither of these has happened to Silvergate. It has shut down some business lines but is continuing to conduct business in others as it moves toward liquidation. 67.180.143.89 (talk) 19:45, 13 March 2023 (UTC)[reply]

It is a liquidation caused by massive losses on such a substantial level that the company had to enter liquidation. Merely because the bank was not seized by regulators does not imply that a wholesale liquidation is something other than a failure (or a collapse), which is how RS describe this situation. — Red-tailed hawk (nest) 20:11, 13 March 2023 (UTC)[reply]
It's necessary to be precise on this point, even when the press might not be, considering what could happen if Wikipedia carelessly identifies a bank here as having failed when it has not exactly. Cite the regulators, not just news reports. 67.180.143.89 (talk) 20:54, 13 March 2023 (UTC)[reply]
Fair enough. — Red-tailed hawk (nest) 21:11, 13 March 2023 (UTC)[reply]

Fails verification tag added

I've moved some content from the background section to the section on Silvergate's collapse. I don't doubt that the bank gained additional scrutiny, but I'm not seeing it named at all in the Joint Statement on Crypto-Asset Risks to Banking Organizations cited source. I'm posting here in case there exist citations that can be provided for this, but I'm not easily able to find them. — Red-tailed hawk (nest) 20:21, 13 March 2023 (UTC)[reply]

Warren op-ed

Elizabeth Warren, who has generally advocated stonger regulation of banks and has been involved with the issue for quite a while, has a relevant op-ed in the NY Times today. She is quite critical of Jerome Powell. Perhaps some of her comments can be incorporated into this article. Her views are usually considered controversial, so balancing viewpoints would probably need to be included. Robert.Allen (talk) 20:35, 13 March 2023 (UTC)[reply]

It might warrant mention in the Federal Response section, but I would want to wait to see legislative proposals before incorporating it there. — Red-tailed hawk (nest) 20:41, 13 March 2023 (UTC)[reply]

Discuss

Neutral point of view 41.234.25.236 (talk) 21:40, 13 March 2023 (UTC)[reply]

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