New York Bank Taken Over By Federales.

[i am herdman]

Signature Bank out of New York closed by feds.

Where does this thing stop?

 

[wvkeeper(HN)]

 

[-CarlHungus-]

I have an investment in a feeder fund for a start up pre IPO. The feeder fund banks at Signature Bank.

We’ll see how this plays out.

Addendum:
My investment just funneled through Signature. Money is already probably burned through in fledgling start up. So either way it’s probably up in smoke. But interesting anecdote, I thought I had no relationship with any of these banks.

 

[SamSwimmer]

Ironically, Barney Frank is a board member on Signature Bank

 

[herdfan06]

Ironically, Barney Frank is a board member on Signature Bank

I honestly thought that guy died years ago.

 

[-CarlHungus-]

Signature bank was selected for my start up feeder fund investments due to strong fundamentals. Or at least I was told that. Plus they worked with Assure - another company that does private equity fund administration.

Seeing some sentiment they (Signature) were targeted due to crypto alliances.

I have no clue what to believe.

 

[GeauxHerd]

We should go back to the gold and silver standard.

 

[raleighherdfan]

We should go back to the gold and silver standard.

I thought that for a long time too. Until you read financial history and realize bank runs, failures, panics, and crashes occurred just as frequently.