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Fill your Brackets: In which round will your "Woke Bank" fail [1]
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Date: 2023-03-13
The women's NCAA tournament will undergo significant change for the second consecutive season. The field expanded to 68 teams last year. This season, the customary four regional sites have been reduced to two: Seattle and Greenville, South Carolina. The top 16 teams will continue to host the first and second rounds, and the First Four games will again be played at the site of the first-round games to which they feed. Defending champion South Carolina is the heavy favorite, and the Gamecocks seek to become the first repeat champions since UConn in 2015-16. The Final Four is March 31 and April 2 at American Airlines Center in Dallas. (ESPN)
Fill your basketball brackets over the next few days, because some people are worried about how long their regional bank will last amid March Madness.
x 1/
1⃣ Signature Bank had $110B in assets and $88 billion in deposits as of Dec. 31, 2022.
2⃣ Signature Bank would be the third-largest bank in U.S. history to fail, after Silicon Valley Bank and Washington Mutual in 2008, if assets are unchanged & most deposits uninsured. pic.twitter.com/jaSatWoFUC — Coinwire.com (@coinwirehq) March 13, 2023
Similarly, the ranking of banks and their unsecured holdings seems important for the MSM message of bank failures. Apparently wokeness rather than whiteness is important according to the Wall Street Journal. One needs to see things in perspective. Start to worry after 100 banks fail.
The sports betting marketplace has many parallels to the world of finance: both are essentially populated with speculators trying to make money by outsmarting everyone else. Some sportsbook conglomerates have even been run by people with experience on Wall Street. But how do the two compare side by side? [...] Both sports betting and financial investing boil down to finding undervalued assets and getting your money in when you have the best of it. I’m not sure which market is easier to beat, but the upward drift of stocks makes that choice more appealing for the average customer. theathletic.com/… Best matchups to watch Both Friday and Saturday offer treats aplenty in the realm of closely contested games. The must-see game on Friday, if you only pick one — and if you do that, examine your life choices — is in the Greenville 2 region, where seventh-seeded NC State takes on the No. 10 seed, the Princeton Tigers. For those of you who haven’t been immersed in the Ivy League all season, the Tigers are largely the same team who beat Kentucky and lost to Indiana by a point in last year’s NCAA Tournament, minus Abby Meyers (now at Maryland) but with the spectacular freshman Madison St. Rose. NC State was expected to contend for an ACC title, but a combination of underperforming and injuries (particularly to Diamond Johnson) left them at 20-11 this season. Had I been seeding, I’d have flipped these two. fivethirtyeight.com/...
not mine, Indiana might fall to LSU or Villanova
x POLL ALERT: South Carolina caps wire-to-wire run at No. 1 in women's AP Top 25 for second straight year; Indiana, Iowa, Virginia Tech, Stanford round out top five.
Full poll:
https://t.co/ZpzgqczgyX pic.twitter.com/4HR71LfPBB — AP Top 25 (@AP_Top25) March 13, 2023
First Republic, PacWest, Western Alliance, and Charles Schwab are among the major names that cratered on Monday morning as investors grow anxious about banks' ties to the tech industry or which may be sitting on large unrealized losses in their bond portfolios, two factors that catalyzed the fall of SVB. Trading in shares of Western Alliance were halted 20 times since March 10 due to spikes in volatility, according to NYSE data. PacWest trades were halted 11 times, and First Republic was halted 13 times in that timeframe. [...] "Investors in the banks will not be protected. They knowingly took a risk and when the risk didn't pay off, investors lose their money. That's how capitalism works," Biden said. Biden said the US banking system was "safe," but contagion fears contained to sweep through regional banks. First Republic shares fell by as much 78% to $17.53 and were subjected to at least three trading halts due to volatility. Also subjected to trading halts, Western Alliance stock sank 54% during the session and PacWest shares tumbled 29%. Zions Bancorp fell 21% and Bank of Hawaii was pulled back 19%. Shares of Charles Schwab were down as much as 20% and were also halted in Monday's session before paring the loss to about 8%. "We expect regional bank stock volatility to remain challenging in the short run as investors recalibrate the risk/reward and we remain cautious until there is visibility with regards to the end to the Fed rate hiking cycle (or possibly until the timing of rate cuts)," Bank of America said in a Monday note. "The state of the economy by the time the Fed is done also remains a swing factor that will inform investor opinion." markets.businessinsider.com/...
x In an unoriginal regurgitation WSJ column of what everyone else has already said about SVB mess, to drop this kind of nonsense in at the end is heinous and tiresome. But these types never fail to use every chance to play their sad grievance violin, no matter how unrelated. pic.twitter.com/Gk2PHthM4c — Kara Swisher (@karaswisher) March 13, 2023
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