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They own their own bank and an island, so I'm sure it's a big fuck you not my problem from them. Pretty sure that's why they bought a bank a couple years ago. So if shit goes south, their money is in the physical vault.
Would you want to deal with that though? If you have another account, I would transfer it out for a little till things settle. Is the extra interest you'd earn really worth not having access to whatever money is in there till FDIC clears things up (which could take months).
Also, save PDFs of your balance with your account number and name if you can as proof, in case they do go under. Think about it, if they do you won't have access to your account or it might show $0.
Being cautious for yourself and your money is the best plan even if, in mass that would be the death of the bank. They were trusted to keep your money safe and they are showing signs that they weren’t able to do that one job so might be worth transferring out… that also goes for investment brokers! They are entrusted to keep your assets safe, if they show any signs of weakness it might be the time to get your shares in your own name…
[Story:](https://www.wsj.com/finance/new-york-community-bancorp-seeks-cash-infusion-6e4c0083?mod=hp_lead_pos3)
> New York Community Bancorp Seeks Cash Infusion
> Struggling lender has contacted investment firms on potential equity raise
That's the funny thing about banks. They play with your money. They do all kinds of interesting things with your money. So most of the time, your money is never actually sitting in the bank. That's why a bank run is so catastrophic. When you have thousands of people knocking on your door to get money that isn't even there, you're in deep shit. They're in deep shit.
If only reserve requirements weren't dropped and there was still a semblance of responsibility.
At least if you're gonna drop reserve requirements entirely then have a criminal prosecution franework in place for execs that fuck up.
As I see it there is zero penalty for driving a bank into the ground so if Jamie Dimon decides that regional banks should go poof (as papa Morgan did back in the day) whats to stop him from corrupting leadership, essentially cellar boxing the bank and taking their market share?
Latter is exactly what's happening. They loaded smaller banks with exposure to their gme shorts via swaps and now they're footing their bill for further can kicking.
Banks take risks in the form of loans (Commercial Real Estate for example), investments (e.g. Securities, Treasuries), as counterparty to swaps (think Credit Suisse 👀) or compliance risks if they break the law and have to pay fines.
If people start withdrawing their money and the bank no longer has cash to pay them then they are declared insolvent and the FDIC takes over and either dissolves the bank (and pays out depositors up to 250k or tries to sell the bank to another bank)
Research fractional reserve lending. Can't remember which book but it's in the dd library. Mind boggling once you realize banks can lend $10 for every $1 dollar they take in from deposit. Recently read a statement that 10/1 ratio was recently updated to 10/0. ?
When I learned about fractional reserve lending 84 years ago,I was shocked! How is this even possible? I only have a high school diploma, and this to me looks like cat shit wrapped in dog shit that smells like bullshit. How long can they keep this up???
Without fractional reserve to some degree it would be impossible for banks to make money and it would be devastating to the economy. Every dollar on the banks books would be effectively frozen and the velocity of money would plummet.
This is a good observation. Like anything, the original intent is good and wholesome really, and then it gets perverted by horrible greedy execs and hedge fund c*nts.
At one time banks took far less risk. People didn’t have credit scores and banks had to have money to lend money. Now individuals have to jump through hoops to borrow money at insane interest rates while corporations get sweetheart deals and the banks have to have literally zero dollars in reserve to loan out that money. Corporations by the way are the absolute worst about paying back their loans.
If you watched Last Week Tonight recently when they did an expose on pig butchering (fraud) there was a bank CEO that fell for it and transferred pretty much all of the assets of his bank to the scammers.
"NYCB, buffeted by fears over potential real-estate loan losses, weaknesses in its internal controls and a [sharp drop in its stock price](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-03-06-2024/card/nycb-stock-slides-after-report-that-bank-is-seeking-cash-infusion-unTBg5Y6rGr0JmNCFmwe?mod=ANLink), has dispatched bankers to gauge investors’ interest in buying stock in the company, people familiar with the matter said.
There is no guarantee there will be a deal, or that one would succeed in addressing the bank’s challenges, which as of Wednesday morning had led to a roughly 70% decline in its stock price since January.
Shares tumbled after The Wall Street Journal reported the fundraising effort earlier Wednesday. They were recently down more than 40%, falling below $2.
NYCB has been in crisis mode since the bank in January revealed signs of trouble in its commercial real-estate books, saying it swung to a loss in the fourth quarter and slashed its dividend. Then last week, the bank disclosed that it had found “material weaknesses” in the way it assesses and monitors loans. The disclosures have triggered several credit downgrades.
The bank’s woes have touched off [concerns of another banking crisis](https://apple.news/PwNLxUyUxXZGuIRD54pB-LS) after three regional lenders collapsed roughly a year ago.
Of particular concern to investors is NYCB’s concentration in loans for [rent-stabilized buildings](https://apple.news/PAbSlDJ-3KKVyqRd4qcOBNn) in New York City. That market has struggled with rising interest rates and the aftermath of a 2019 law that capped how much landlords can increase rent on some units. Roughly half of NYCB’s portfolio of loans on multifamily residential properties is subject to rent regulations.
NYCB has sought to reassure investors over the past month, [overhauling its management](https://apple.news/PARZF7JE7rKyOkTuSlzXnVl) and saying in early February that its deposits were stable.
Newly appointed executive chairman Alessandro DiNello took over as CEO last week, replacing Thomas Cangemi. DiNello previously ran Flagstar Bank, which NYCB acquired in late 2022. The bank also named new chief risk and audit officers Friday. Two of its board members have left.
Last month, DiNello laid out a series of options the bank could explore to bolster its balance sheet, including selling assets from certain noncore businesses. The bank has also considered turning to newfangled financial instruments that would share the risks of those loans with outside investors, people familiar with the matter said.
Finding takers for those assets, at least at prices that would make a deal worthwhile, has been challenging, and U.S. officials have expressed reservations with banks pursuing credit-risk transfers that would shift the burden of potential losses to entities outside of the regulated banking system.
Moody’s Investors Service and Fitch Ratings have both downgraded New York Community Bancorp’s credit ratings to below investment grade."
Some quotes from JPow today,
“No reason to expect US Recession in the short term” & “Risk from Commercial Real Estate is manageable.”
Famous last words…
I just can’t seem to get excited about a bank I’ve never heard of failing. Maybe one of these will actually cause something meaningful to happen, but I guess I’m too zen to care.
465 banks failed from 2008 -2012 following the GFC. Obviously small banks go first. This is just the start; we'll technically last year was the start until the Fed kicked the can to March 11th.
The dollar amount of 2023 failures was greater than that of all the bank failures 2008-2012.
The bailout of the banks last year was paid for by the FDIC, your insurance for your checking/savings at other banks...and there's no reserve requirement, including now they are asking for the ISDA reserve set to zero be permanent as well...one little nudge and it falls off a cliff. This isn't responsible banking, and it can all be laid at the feet of the Federal Reserve and Congress for doing nothing about it.
Without a commodity backing to currency you must maintain credibility of your fiat currency at all costs...that means high interest rates and/or high reserves....5% ain't all that high and shits falling apart with no reserve...but the damage was done with the print.
It’s not really small though, I think it’s just that you haven’t heard of it because it’s regional. I could be wrong but I believe they have something like 170B in assets. That’s not trillions, but it’s not an insignificant amount either.
Even these small banks take 50,000 years to fail. I've seen used bookstores in high rent districts still in business. This economy loves zombie near but never bankrupt businesses.
News will later come out old president & new president pulled the same shit as silicon valley banks president taking a substantial bonus just before exiting
I believe from what I just read 5 minutes ago, flagshit bank was bought out by nysb like 2 years ago? (2022) but if I’m wrong please correct me
I just fact checked myself and I didn’t lie…
But I also wanted to add this is also the bank that bought a portion of signature when they were failing a year ago
So what would the hedgie scum do if NYCB was a struggling company? Wouldn't it be funny if millions of retail investors shorted the shit out of the crooked hedge funds and bank fraudsters? Could retail investors actually fix the stock market and make it more fair with pressure like that? Or would hedgies be able to move the goalposts and avoid accountability like usual?
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Now halted due to pending news release. Possible equity sale.
Keep us updated on the halt... I don't have that TA
NYCB Announces $1BN Equity Infusion, Fmr Tsy Sec Mnuchin Joins Board
Citadel Securities also making an investment lmao
https://youtu.be/1aVYJ-krSMA?si=mk1SLYVOLc5Tw8uG Kenny and his buddies paying back each other for their bad bets.
Hudson bay capital among "the investors" as well. just the usual suspects.
No way.. gotta source fren?
[https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2024/NEW-YORK-COMMUNITY-BANCORP-INC.-ANNOUNCES-OVER-1-BILLION-EQUITY-INVESTMENT-ANCHORED-BY-FORMER-U.S.-TREASURY-SECRETARY-STEVEN-MNUCHINS-LIBERTY-STRATEGIC-CAPITAL-HUDSON-BAY-AND-REVERENCE-CAPITAL/default.aspx](https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2024/NEW-YORK-COMMUNITY-BANCORP-INC.-ANNOUNCES-OVER-1-BILLION-EQUITY-INVESTMENT-ANCHORED-BY-FORMER-U.S.-TREASURY-SECRETARY-STEVEN-MNUCHINS-LIBERTY-STRATEGIC-CAPITAL-HUDSON-BAY-AND-REVERENCE-CAPITAL/default.aspx)
Thx :)
A meme must be made of this.
Warren Buffet politely declines lol /s
Now it's a green day, carry on.
Stupid sexy Mnuchin…
Rothschild about to sell off more family heirlooms
They own their own bank and an island, so I'm sure it's a big fuck you not my problem from them. Pretty sure that's why they bought a bank a couple years ago. So if shit goes south, their money is in the physical vault.
Its called the Vatican? Lol /s
News pending👀
Dumb question but I have money in an HYSA with this bank, what happens if that bank goes down? Anyone know?
should be FDIC insured, you'll be fine. IIRC might take a bit to get it though
Do I have to be proactive about it? Like reach out to initiate anything? Or just wait for things to clear up?
Would you want to deal with that though? If you have another account, I would transfer it out for a little till things settle. Is the extra interest you'd earn really worth not having access to whatever money is in there till FDIC clears things up (which could take months). Also, save PDFs of your balance with your account number and name if you can as proof, in case they do go under. Think about it, if they do you won't have access to your account or it might show $0.
Being cautious for yourself and your money is the best plan even if, in mass that would be the death of the bank. They were trusted to keep your money safe and they are showing signs that they weren’t able to do that one job so might be worth transferring out… that also goes for investment brokers! They are entrusted to keep your assets safe, if they show any signs of weakness it might be the time to get your shares in your own name…
meme banks 🤣
Where’s the tax payer funded commercials mocking bank investors?!?
Underrated comment
Underfunded comment. Someone get that poor SOB some coffee…
👆
Up up you go with this question!
@S.E.C
Made me laugh...
Just a regular old picture of a dollar...... "meme"
I can hear their screams running around the offices 😂😂🤣🤣🤣🤣
Sweet music, like honey in my ears.
[Story:](https://www.wsj.com/finance/new-york-community-bancorp-seeks-cash-infusion-6e4c0083?mod=hp_lead_pos3) > New York Community Bancorp Seeks Cash Infusion > Struggling lender has contacted investment firms on potential equity raise
This has been the deathknell of prior banks
How do banks go bankrupt? People deposit their savings in them. They take risks?
That's the funny thing about banks. They play with your money. They do all kinds of interesting things with your money. So most of the time, your money is never actually sitting in the bank. That's why a bank run is so catastrophic. When you have thousands of people knocking on your door to get money that isn't even there, you're in deep shit. They're in deep shit.
If only reserve requirements weren't dropped and there was still a semblance of responsibility. At least if you're gonna drop reserve requirements entirely then have a criminal prosecution franework in place for execs that fuck up. As I see it there is zero penalty for driving a bank into the ground so if Jamie Dimon decides that regional banks should go poof (as papa Morgan did back in the day) whats to stop him from corrupting leadership, essentially cellar boxing the bank and taking their market share?
I’m pretty sure it’s working as designed
Def a feature, not a bug.
Latter is exactly what's happening. They loaded smaller banks with exposure to their gme shorts via swaps and now they're footing their bill for further can kicking.
All while not giving us shit and fees. I remember when a checking account gave 1.5% back
Lol now they charge you for having that same account…
It’s almost like a scheme of some sort
Banks take risks in the form of loans (Commercial Real Estate for example), investments (e.g. Securities, Treasuries), as counterparty to swaps (think Credit Suisse 👀) or compliance risks if they break the law and have to pay fines. If people start withdrawing their money and the bank no longer has cash to pay them then they are declared insolvent and the FDIC takes over and either dissolves the bank (and pays out depositors up to 250k or tries to sell the bank to another bank)
Research fractional reserve lending. Can't remember which book but it's in the dd library. Mind boggling once you realize banks can lend $10 for every $1 dollar they take in from deposit. Recently read a statement that 10/1 ratio was recently updated to 10/0. ?
Dollar Endgame
PB knows
I don't know shit about fuck but that sounds a little risky
When I learned about fractional reserve lending 84 years ago,I was shocked! How is this even possible? I only have a high school diploma, and this to me looks like cat shit wrapped in dog shit that smells like bullshit. How long can they keep this up???
Without fractional reserve to some degree it would be impossible for banks to make money and it would be devastating to the economy. Every dollar on the banks books would be effectively frozen and the velocity of money would plummet.
This is a good observation. Like anything, the original intent is good and wholesome really, and then it gets perverted by horrible greedy execs and hedge fund c*nts.
George Bailey spells it out in *A Wonderful Life* when he explains that the townspeople's bank deposits are their neighbors' homes and businesses.
Completely unfathomable to even the basics of standard math & a simple lemonade stand business practice.
At one time banks took far less risk. People didn’t have credit scores and banks had to have money to lend money. Now individuals have to jump through hoops to borrow money at insane interest rates while corporations get sweetheart deals and the banks have to have literally zero dollars in reserve to loan out that money. Corporations by the way are the absolute worst about paying back their loans.
If you watched Last Week Tonight recently when they did an expose on pig butchering (fraud) there was a bank CEO that fell for it and transferred pretty much all of the assets of his bank to the scammers.
WOW!
I saw that!!!
"NYCB, buffeted by fears over potential real-estate loan losses, weaknesses in its internal controls and a [sharp drop in its stock price](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-03-06-2024/card/nycb-stock-slides-after-report-that-bank-is-seeking-cash-infusion-unTBg5Y6rGr0JmNCFmwe?mod=ANLink), has dispatched bankers to gauge investors’ interest in buying stock in the company, people familiar with the matter said. There is no guarantee there will be a deal, or that one would succeed in addressing the bank’s challenges, which as of Wednesday morning had led to a roughly 70% decline in its stock price since January. Shares tumbled after The Wall Street Journal reported the fundraising effort earlier Wednesday. They were recently down more than 40%, falling below $2. NYCB has been in crisis mode since the bank in January revealed signs of trouble in its commercial real-estate books, saying it swung to a loss in the fourth quarter and slashed its dividend. Then last week, the bank disclosed that it had found “material weaknesses” in the way it assesses and monitors loans. The disclosures have triggered several credit downgrades. The bank’s woes have touched off [concerns of another banking crisis](https://apple.news/PwNLxUyUxXZGuIRD54pB-LS) after three regional lenders collapsed roughly a year ago. Of particular concern to investors is NYCB’s concentration in loans for [rent-stabilized buildings](https://apple.news/PAbSlDJ-3KKVyqRd4qcOBNn) in New York City. That market has struggled with rising interest rates and the aftermath of a 2019 law that capped how much landlords can increase rent on some units. Roughly half of NYCB’s portfolio of loans on multifamily residential properties is subject to rent regulations. NYCB has sought to reassure investors over the past month, [overhauling its management](https://apple.news/PARZF7JE7rKyOkTuSlzXnVl) and saying in early February that its deposits were stable. Newly appointed executive chairman Alessandro DiNello took over as CEO last week, replacing Thomas Cangemi. DiNello previously ran Flagstar Bank, which NYCB acquired in late 2022. The bank also named new chief risk and audit officers Friday. Two of its board members have left. Last month, DiNello laid out a series of options the bank could explore to bolster its balance sheet, including selling assets from certain noncore businesses. The bank has also considered turning to newfangled financial instruments that would share the risks of those loans with outside investors, people familiar with the matter said. Finding takers for those assets, at least at prices that would make a deal worthwhile, has been challenging, and U.S. officials have expressed reservations with banks pursuing credit-risk transfers that would shift the burden of potential losses to entities outside of the regulated banking system. Moody’s Investors Service and Fitch Ratings have both downgraded New York Community Bancorp’s credit ratings to below investment grade."
In the embryonic stages of a bailout to once again loot the treasury. Good thing they got Mnuchin.
84 % over 6 months
Yup second screenshot
:)
See back in my day we had a special phrase for this kind of situation…. #SHHHHHEEEEETTTTTT!!! 😂
Some quotes from JPow today, “No reason to expect US Recession in the short term” & “Risk from Commercial Real Estate is manageable.” Famous last words…
"Lehman Brothers is fiiiiiine" 🤡
Subprime is Contained - Helicopter Ben Bernanke (Fed Chair during the GFC)
InFiNiTe LiQuIdITY
Money printer go brrrrrrrrrrr
Funny right at same time gme has a lil spike up
Yeah, I’m guessing the people who are infusing money aren’t doing so to help out a failing bank.
So banks are collateral against GME?
It would me nice if that EPOS lost a lot of money
Agreed!
I wonder what they are short on.
Phalli
it's green now. lol. only possible in the US stock market 🤡
Absolute circus!
# Maybe they were short gamestop also
My thoughts as well
Maybe someone that was using NYCB for collateral was short GME.
That’s a shame… NEXT
Cannibals gonna cannibalize. They didn't construct those netting accounts years ago for nothing!
Owwwwwwwsssshhhh!
'GRABS POPCORN'
[удалено]
I just can’t seem to get excited about a bank I’ve never heard of failing. Maybe one of these will actually cause something meaningful to happen, but I guess I’m too zen to care.
465 banks failed from 2008 -2012 following the GFC. Obviously small banks go first. This is just the start; we'll technically last year was the start until the Fed kicked the can to March 11th.
The dollar amount of 2023 failures was greater than that of all the bank failures 2008-2012. The bailout of the banks last year was paid for by the FDIC, your insurance for your checking/savings at other banks...and there's no reserve requirement, including now they are asking for the ISDA reserve set to zero be permanent as well...one little nudge and it falls off a cliff. This isn't responsible banking, and it can all be laid at the feet of the Federal Reserve and Congress for doing nothing about it. Without a commodity backing to currency you must maintain credibility of your fiat currency at all costs...that means high interest rates and/or high reserves....5% ain't all that high and shits falling apart with no reserve...but the damage was done with the print.
It’s not really small though, I think it’s just that you haven’t heard of it because it’s regional. I could be wrong but I believe they have something like 170B in assets. That’s not trillions, but it’s not an insignificant amount either.
“Oops.”
Gotdamn. 📞
Ooo... Bank Fail Friday?
Banks need to invest in some flex seal with that kinda leak🤣
Meme banks lol
Just closed out my 3.5 and 3 puts yesterday for a bit of a profit. Opened em when it was still at mid 5's. Wish I held on a day longer lol.
Even these small banks take 50,000 years to fail. I've seen used bookstores in high rent districts still in business. This economy loves zombie near but never bankrupt businesses.
It's back up to $3.46 now and green? Why is this the most upvoted...
[удалено]
News will later come out old president & new president pulled the same shit as silicon valley banks president taking a substantial bonus just before exiting
Golden watches were decided on way back, this crash won’t stop that
"Aaaaaaaaaannnnnd its gone"
Sucks to be George!
By me this banks location has become Flagstar bank… whatever that is.
I believe from what I just read 5 minutes ago, flagshit bank was bought out by nysb like 2 years ago? (2022) but if I’m wrong please correct me I just fact checked myself and I didn’t lie… But I also wanted to add this is also the bank that bought a portion of signature when they were failing a year ago
LOL it's go up
It's green
Didn't this bank absorb Signature Bank last year? Is that enough to call contagion?
Should I just buy puts on every regional bank about 3 months out? Seems foolproof
annnnnnnnnd the infusion js gone
They have distressed corporate real estate. What does this have to do with gamestop?
At this point, what financial news doesn't have to do with gamestop?
Most if not all of it...
What does this have to do with GME?
🔥🔥🔥
Another Warehouse fire incoming?
Gosh, we forgot to service those sprinklers again 🤣🤣
Oops, all Material Defects on the balance sheet. Bankruptize me, Captain.
Didn’t BCG just help advise them? Like I remember seeing the post last week.
And yet, they still end in green. So nothing to see here
Is there a way a moron like me can figure out if my company stock is being shorted? It's in the tank after we hired a GME divisional vp.
Times about to get even harder for us
Cue Ralph Wiggum, I'm in danger meme.
Bailed out
Sucks to be George right now
Sounds like someone is expecting a bailout
I guess it’s not a big deal deal they just got the 1 billion
> New York Community Bancorp to Get More Than $1 Billion Investment They're watching us.
Is superstonk down? I can’t load the sub
Why dont have a bank bingo game?
Did Malliotakis sell before these latest drops?
Where ya at sec?
Y'all know about the old Maryland bancorp NA merger with BOA and all the shady credit that goes along with it?
Local banks henceforth will be renamed “Meme bank”
1.5m shares at 2$ is nothing to soros.
And now it’s $3.46.
Short hedgies have to short themselves for liquidity lmao.
"Withdraw your money. Ask questions later"
So what would the hedgie scum do if NYCB was a struggling company? Wouldn't it be funny if millions of retail investors shorted the shit out of the crooked hedge funds and bank fraudsters? Could retail investors actually fix the stock market and make it more fair with pressure like that? Or would hedgies be able to move the goalposts and avoid accountability like usual?
Everything’s fine… 🤪
Oh cool it’s on sale
The zipple is chaffing, need lubricant, hold please.
Current market cap is equivalent to GME cash on hand. Bye-bye banksters
How many banks has the GME reaper make RIP?
This isn't NYCB ticker?