“Failing Banks” is never a term that you want on the headlines of news. No one wants it.
The one thing I noticed is how the media is reacting to this bailout compared to how big of a deal it was when the government bailed out the banks in 2008.
Last time felt like a way bigger deal… Maybe that’s just me?
After talking with my parents, I have one case study on how they took the news in today’s video.
If your clients are like my parents, I’d say you need to beat the misinformation out there and help these retirees!
Let’s go, Let’s go!
Cory
Here are your Quick Hits:
Collapse of SVB, Signature Bank: What You Need to Know
- I thought this was a good 3rd party article from Yahoo finance explaining what happened with SVB
- “SVB and Signature Bank’s collapses were the second and third largest in history, with Washington Mutual — which fell during the 2008 financial crisis — still No. 1.”
- “On Wednesday, CEO Greg Becker sent a letter to shareholders telling them that SVB had lost $1.8 billion on the sale of U.S. Treasurys and mortgage-backed securities. Becker indicated the bank planned to raise $2.25 billion to bolster its finances. This announcement sparked a panic among its customers, who collectively withdrew $42 billion from their accounts Thursday. By Friday morning, SVB had a negative cash balance of $958 million.”
How to Create Compelling Client Interviews
- “Listening is like a game of catch with a lump of clay… Each person catches it and molds it with their perceptions before tossing it back.”
- “All things being equal, try to be the most authentic, likable, and trustworthy. This is accomplished by better listening and interview skills.”
Tooth Fairy return outpaces S&P 500, beats inflation
- I love off-the-rails ideas like this and this one is fascinating!
- This would be a great and funny topic to talk about on your radio and podcasts coming up.
- “Since 1998, when Delta Dental introduced its tooth fairy index, which tracks the amount the fairy leaves in exchange for a lost tooth, the average windfall per tooth has shot up by 379%, from $1.30 per tooth to $6.23 per tooth.”
Why Your Culture Isn’t Working as Designed
- Culture can be a massive strength or a secret pain in your growth.
- “You can’t not have a culture. Every organization or organized group has a culture. We must ask whether our culture originated by design or by default.”
- “The result of having an intentionally designed culture is that it will guide every member of the organization to know how we are to think, act, and interact with each other.”
The Fed Tries to Thread the Needle on Interest Rates
- “That’s out of step with inflation that remains well above the Fed’s 2% target, and the central bank’s prediction that inflation will fall rapidly this year may be too optimistic given its poor forecasting record.”
- “For now Mr. Powell is hoping he can both calm markets and break inflation. It’s a difficult act, but then the monetary mania followed by inflation and financial panic are problems of the central bank’s creation. That’s why it now has to thread this needle.”
