WEBVTT - Scholars Corner: Biggest Lessons to Learn from SVB & Signature Bank Collapse

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:00:07.720 --> 0:00:11.840
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:00:11.920 --> 0:00:15.840
<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:00:31.760 --> 0:00:34.960
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fined nearly

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<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

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<v Speaker 1>never return. But if you register using our CBP home

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<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

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<v Speaker 1>border and families will be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security.

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<v Speaker 3>The first thing that we have to talk about is

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<v Speaker 3>the biggest thing that has happened last week, Silicon Valley

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<v Speaker 3>Bank collapsed. We'll give some some preference on this, but

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<v Speaker 3>this is the second bank to collapse in a week,

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<v Speaker 3>one of the biggest bank crisises in American history. Yep,

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<v Speaker 3>and this was the biggest bank to fail since two

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<v Speaker 3>thousand and eight. What pretty much caused it, at a

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<v Speaker 3>very high level explanation is they didn't have enough money,

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<v Speaker 3>so they over leveraged themselves. You know, when when the

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<v Speaker 3>Fed raised interest rates, they were invested in bonds and

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<v Speaker 3>mortgage backed securities that didn't work out for them, actually

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<v Speaker 3>lost money, and they announced that they needed two billion

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<v Speaker 3>dollars to remain solvent. When they announced that they needed

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<v Speaker 3>two billion dollars to remain solvent, there was a rush

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<v Speaker 3>on the bank. Obviously, people were scared, like money, my money.

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<v Speaker 3>They didn't have enough, so then the fdi C has

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<v Speaker 3>to step in, and now they're working through that. They

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<v Speaker 3>said that everybody that has was fdi C insured will

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<v Speaker 3>have their money, well had their money today, and then

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<v Speaker 3>everybody else they're working on within the next week. So

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<v Speaker 3>it was a very in this bank. A lot of

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<v Speaker 3>people have not heard of, but it's one of the

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<v Speaker 3>biggest banks in America eight I think it's eighteenth biggest

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<v Speaker 3>bank in America or something like that around that. So

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<v Speaker 3>it was geared towards Silicon Valley, right, it was geared

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<v Speaker 3>towards startup companies and benture capital firms, and these are

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<v Speaker 3>the places where these guys went to borrow money and

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<v Speaker 3>to get capital from. So it's not like a regular

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<v Speaker 3>bank where you just go in like Chase Bank and

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<v Speaker 3>you just put one hundred dollars and open an account.

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<v Speaker 3>But you know, it's it's one of these things that

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<v Speaker 3>that was disturbing and the causes you know, eyebrowns every raised.

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<v Speaker 3>So yes, so all right, so what's the impact on

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<v Speaker 3>this going forward? What's the impact on the stock mar

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<v Speaker 3>because all the bank stocks lost money as a as

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<v Speaker 3>a result of this, so it was like a ripple effect.

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<v Speaker 3>So what's the take on this SVB situation?

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<v Speaker 4>We I talked about it at the live show. But

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<v Speaker 4>risk to reward means everything. So if I came to

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<v Speaker 4>anyone and said, hey, I'm going to loan out money

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<v Speaker 4>to start up companies that have between one hundred one

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<v Speaker 4>to one hundred employees, the net margin is anywhere from

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<v Speaker 4>three percent to fifteen percent, and I'm going to try

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<v Speaker 4>and offset it by investing in bonds and mortgage backed securities.

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<v Speaker 4>Instant fail like this is the worst business plan ever

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<v Speaker 4>and they're over capitalized. We'll talk about it later, but

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<v Speaker 4>I think the ANGEL and VC environment has to change

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<v Speaker 4>dramatically because they're funding all of these companies.

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<v Speaker 5>Think about I mean just want to add to you

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<v Speaker 5>what you're saying for because that's a great point when

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<v Speaker 5>we think about the time period of when these loans

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<v Speaker 5>are taking place.

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<v Speaker 2>Yeah, low interest.

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<v Speaker 5>Rates, right, so hero right, we're talking about the lowest

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<v Speaker 5>interest rates. And if we've watched the market, right, we've

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<v Speaker 5>seen what interest rates being raised has done to tech companies. Right,

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<v Speaker 5>So think about now when you have low interest rates

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<v Speaker 5>and you're giving loans to tech companies, when of those

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<v Speaker 5>interest rates rights, there's going to be an inverse effect.

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<v Speaker 2>I started losing, right.

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<v Speaker 5>So like the pandemic, we saw all these startups, right,

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<v Speaker 5>we saw all these these companies IPO, we saw a

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<v Speaker 5>bunch of SPACs. Pandemic is over in the past. Yeah,

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<v Speaker 5>interest rates have risen. Now it's not you're starting to

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<v Speaker 5>see these these these effects. Obviously we see it from companies,

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<v Speaker 5>but now you see it from a bank. It's like yo,

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<v Speaker 5>here it comes right. These are delayed reactions to some

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<v Speaker 5>of these decisions like the Federick getting raised. It's like, oh,

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<v Speaker 5>it sounds great. Always a quarter point, always, three quarters

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<v Speaker 5>of a point always. I mean it's like after a while,

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<v Speaker 5>it's like, wait, what is the long term effect?

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<v Speaker 2>Chris? We don't see it in the short term.

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<v Speaker 4>I mean, and they're swooping under the rug. I said it,

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<v Speaker 4>but I think it's interesting. They announced this news the

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<v Speaker 4>weekend of the oscars. So now you see Brad Pitt

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<v Speaker 4>hopefully you know nobody gets slapped on stage, right. They're

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<v Speaker 4>going to recover it again on Monday about what happened.

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<v Speaker 4>But so you're kind of swooping it under the rug

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<v Speaker 4>to soften the blow post announcing midweek or Friday morning.

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<v Speaker 4>Then on top of that, yelling ha announced that the

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<v Speaker 4>government is not going to build the bank out. Oh

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<v Speaker 4>so the long term effects is like a lot of

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<v Speaker 4>banks are going to go under any it sets up

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<v Speaker 4>for JP, Morgan, Bank of America, the Big four to

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<v Speaker 4>become even bigger.

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<v Speaker 5>Right, because you think in terms of like, yeah, there's

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<v Speaker 5>money there people who are insured, but you're going about

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<v Speaker 5>to lose all those customers.

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<v Speaker 2>Yes, and so if you're losing customers, they're gonna have

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<v Speaker 2>to go somewhere and you need safety.

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<v Speaker 4>I mean, people was telling me earlier, like it was

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<v Speaker 4>some memes going around about risk mitigation, Like the risk

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<v Speaker 4>management team was like throwing water at a fire that

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<v Speaker 4>sort of thirty third floor and he's throwing water on

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<v Speaker 4>the first floor. It's like all of these companies that

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<v Speaker 4>got funded, most of them weren't even profitable. Like if

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<v Speaker 4>you look even at the acquisition of Slack, and this

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<v Speaker 4>won't affect the tech like Microsoft matter, it won't affect them,

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<v Speaker 4>but like smaller companies that are getting started, it's gonna

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<v Speaker 4>affect them dramatically. But even take Salesforce paying two billion

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<v Speaker 4>for Slack, and then the team of Slack, the management

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<v Speaker 4>team wasn't using Slack teave and communicate on a day

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<v Speaker 4>to day basis. They was using what's happened telegram Like

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<v Speaker 4>it was just insane. And I hate to say it,

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<v Speaker 4>but this is like the leaning of this generation.

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<v Speaker 2>Yeah, and it's tech driven.

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<v Speaker 5>I mean, the unfortunate part is that some many startups

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<v Speaker 5>do employ people, right, and so now if the company,

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<v Speaker 5>if the bank is dissolved, the right thing about the

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<v Speaker 5>payroll of those people who are to make pyroll.

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<v Speaker 2>It's over.

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<v Speaker 4>Hopefully a bridge, loan or something will be given, but no,

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<v Speaker 4>it's going to be over and we have to be

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<v Speaker 4>very honest like when things earners.

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<v Speaker 2>What's up?

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<v Speaker 6>You ever walk into a small business and everything just works,

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<v Speaker 6>like the checkout is fast, the receipts are digital, tipping

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<v Speaker 6>is a breeze, and you're out the door before the

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<v Speaker 6>line even builds odds are they're using Square. We love

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<v Speaker 6>supporting businesses that run on Square because it just feels seamless.

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<v Speaker 6>Whether it's a local coffee shop, a vendor at a

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<v Speaker 6>pop up market, or even one of our merch partners,

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<v Speaker 6>Square makes it easy for them to take payments, manage inventory,

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<v Speaker 6>and run their business with confidence, all from one simple system.

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<v Speaker 6>If you're a business owner or even just thinking about

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<v Speaker 6>launching something soon, Square is hands down one of the

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<v Speaker 6>best tools out there to help you start, run and grow.

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<v Speaker 6>It's not just about payments, it's about giving you time

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<v Speaker 6>back so you can focus on what matters most ready.

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<v Speaker 6>To see how Square can transform your business, visit Square

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<v Speaker 6>dot com backslash, go backslash eyl to learn more that

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<v Speaker 6>Square dot com backslash, go backslash eyl. Don't wait, don't hesitate,

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<v Speaker 6>Let Square handle the back end so you can keep

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<v Speaker 6>pushing your vision forward. This episode is brought to you

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<v Speaker 6>by P and C Bank. A lot of people think

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<v Speaker 6>podcasts about work are boring, and sure, they definitely can be,

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<v Speaker 6>but understanding a professional's routine shows us how they achieve

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<v Speaker 6>their success little by little, day after day. It's like

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<v Speaker 6>banking with P and C Bank. It might seem boring

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<v Speaker 6>to save and make calculated decisions with your bank, but

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<v Speaker 6>keeping your money boring is what helps you live or

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<v Speaker 6>more happily fulfilled life. P and C Bank Brilliantly Boring

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<v Speaker 6>since eighteen sixty five. Brilliantly Boring since eighteen sixty five

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<v Speaker 6>is a service mark of the PNC Financial Service Group, Inc.

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<v Speaker 6>P and C Bank National Association Member FDIC.

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:08:30.680 --> 0:08:34.800
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:08:34.880 --> 0:08:38.760
<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

0:08:42.640 --> 0:08:46.240
<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

0:08:46.240 --> 0:08:51.040
<v Speaker 1>Secretary of Homeland security. Under President Trump, attempted illegal border

0:08:51.080 --> 0:08:54.640
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:08:54.679 --> 0:08:57.920
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:08:58.000 --> 0:09:02.120
<v Speaker 1>are here illegally, you you will be fine nearly one

0:09:02.160 --> 0:09:06.720
<v Speaker 1>thousand dollars a day, imprisoned and deported, you will never return.

0:09:07.040 --> 0:09:10.080
<v Speaker 1>But if you register using our CBP home app and

0:09:10.160 --> 0:09:13.559
<v Speaker 1>leave now, you could be allowed to return legally. Do

0:09:13.640 --> 0:09:18.720
<v Speaker 1>what's right, leave now. Under President Trump, America's laws, border

0:09:18.960 --> 0:09:20.760
<v Speaker 1>and families will be protected.

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<v Speaker 2>Sponsored by the United States Department at Home Mad Security.

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<v Speaker 2>Everything was right, And I said it before.

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<v Speaker 4>They're gonna let us get money in twenty twenty for

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<v Speaker 4>the disaster that's going to come. You have to check

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<v Speaker 4>the financial soligncy score of your bank. That just mean

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<v Speaker 4>is your bank have a high probability of going broke?

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<v Speaker 4>Google it called them up acting with the scores. If

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<v Speaker 4>they won't tell you what the score is, probably should

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<v Speaker 4>take your money out.

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<v Speaker 2>Yeah. Yeah.

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<v Speaker 3>And then also what we talked about on stage yesterday,

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<v Speaker 3>well stage Saturday, about this is that.

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<v Speaker 2>There's a few different lessons here.

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<v Speaker 3>So this was a bank where most institutions had their money,

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<v Speaker 3>not retail investors, but retail investors can still learn from this, right,

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<v Speaker 3>Whereas a lot of people historically, especially in our community,

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<v Speaker 3>they're like, well, I don't trust investments, I don't understand

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<v Speaker 3>investing to I'd rather just put my money in a

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<v Speaker 3>bank because it's safe. And the crazy thing about that

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<v Speaker 3>philosophy is that banks invest your money. Yes, right, So

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<v Speaker 3>this was like I said, the reason why this bank

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<v Speaker 3>failed is that their investments didn't work out for them.

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<v Speaker 3>But the overarching lesson here is that banks invest your money.

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<v Speaker 3>So you putting money in a bank account saying that

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<v Speaker 3>you don't want to invest. It's crazy because the money

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<v Speaker 3>that you're putting in the bank account is actually using.

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<v Speaker 2>Your capital to invest. Right.

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<v Speaker 4>And this is the crazy part that we're using the

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<v Speaker 4>active customer deposits as soon as they came in.

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<v Speaker 2>You're trying to offset the losses. We just fraud. We've

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<v Speaker 2>said this plenty of times.

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<v Speaker 5>Just like you go to the bank and you ask

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<v Speaker 5>for five thousand dollars, we got to call it before

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<v Speaker 5>a tenth, You got to call it before. Most people

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<v Speaker 5>think like, yo, the bank has they should have the money, right.

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<v Speaker 2>But this is the reason.

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<v Speaker 5>Because it's actively being put out to use as a

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<v Speaker 5>tool and.

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<v Speaker 4>Unfortunately, it's gonna be a squeeze on regional banks with

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<v Speaker 4>a smaller bank and Midwest I'm from man, those risk

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<v Speaker 4>controls are going to get tightened. Long parameters are going

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<v Speaker 4>to get tightened. I feel bad for like small business owners,

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<v Speaker 4>like they're not going to be able to loan that

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<v Speaker 4>money as easily. And according to what Dave was saying,

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<v Speaker 4>it's a big crash coming yea, yeah, yeah pretty soon,

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<v Speaker 4>So those regulations are going to get even tighter.

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<v Speaker 5>I was listening to the Fat Joe and he was

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<v Speaker 5>talking about how he shout the fact jo Joey. He

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<v Speaker 5>was talking about how he, you know, he banks with

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<v Speaker 5>a regional bank. You know, if he had three million

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<v Speaker 5>dollars and they only showing two hundred and fifty, what

0:11:33.320 --> 0:11:34.520
<v Speaker 5>they're gonna do with the rest of my money?

0:11:34.520 --> 0:11:35.120
<v Speaker 2>He talked about that.

0:11:35.200 --> 0:11:37.840
<v Speaker 5>As far as this is concerned, yeah, yeah, not saying

0:11:37.880 --> 0:11:40.240
<v Speaker 5>that he was an invested in she's saying he giving

0:11:40.280 --> 0:11:43.080
<v Speaker 5>commentary for commentary on SBB on Instagram.

0:11:43.200 --> 0:11:44.760
<v Speaker 2>Yeah yeah, yeah, he did a live about it. I

0:11:44.800 --> 0:11:46.000
<v Speaker 2>was like, I'm gonna check that out.

0:11:46.160 --> 0:11:48.360
<v Speaker 5>That's that's interesting because I'm like, yo, yo, Joey, like

0:11:48.440 --> 0:11:49.880
<v Speaker 5>he knows like he stopped in.

0:11:49.920 --> 0:11:50.360
<v Speaker 2>He'stopped.

0:11:51.360 --> 0:11:53.480
<v Speaker 3>Sometimes he saw us who a political figure was who

0:11:53.480 --> 0:11:54.319
<v Speaker 3>I didn't even recognize.

0:11:54.360 --> 0:11:57.200
<v Speaker 5>He's like, yo, guys, I'm teaching yat yo, at least

0:11:57.200 --> 0:11:58.719
<v Speaker 5>you should know these things. I'm like, yo, bro, you

0:11:58.800 --> 0:12:01.160
<v Speaker 5>know we tapped in, but he stapped in. So what

0:12:01.240 --> 0:12:03.360
<v Speaker 5>I heard this commentary on, I'm like, yo, that's important

0:12:03.360 --> 0:12:05.440
<v Speaker 5>because even like when we were saying like yeah, and

0:12:05.480 --> 0:12:07.040
<v Speaker 5>I know people like I don't have two hundred and

0:12:07.040 --> 0:12:09.440
<v Speaker 5>fifty thousands, but at some point, like you may start

0:12:09.480 --> 0:12:11.280
<v Speaker 5>a business and it may gross that and if your

0:12:11.320 --> 0:12:14.280
<v Speaker 5>business that amount is insured. But yeah, what happens to

0:12:14.320 --> 0:12:16.520
<v Speaker 5>the rest? Even if you had five thousand. It's not

0:12:16.559 --> 0:12:19.280
<v Speaker 5>a well known bank. Have you ever logged into your

0:12:19.320 --> 0:12:21.240
<v Speaker 5>account and your account was short or over?

0:12:22.480 --> 0:12:24.520
<v Speaker 4>Money is being actively switched, And I know they'll say

0:12:24.559 --> 0:12:26.560
<v Speaker 4>it's a bank in air, but this is happening too much.

0:12:27.040 --> 0:12:30.160
<v Speaker 4>Banks are going through a huge issue of not having

0:12:30.280 --> 0:12:33.800
<v Speaker 4>enough liquidity, and with every market, every market is tied

0:12:33.840 --> 0:12:38.640
<v Speaker 4>together NFT crypto stop market mutual funds. Like even people

0:12:38.679 --> 0:12:42.240
<v Speaker 4>who thought they had mutual funds through SVB called and

0:12:42.480 --> 0:12:45.680
<v Speaker 4>SVB owned a mutual fund, was not in your name,

0:12:46.640 --> 0:12:48.720
<v Speaker 4>not had I did that to y'all. Boy, y'all would

0:12:48.720 --> 0:12:51.120
<v Speaker 4>have my head right. So you have to be careful

0:12:51.120 --> 0:12:55.760
<v Speaker 4>a monitor who you're banking with. And it's the funny part,

0:12:55.760 --> 0:12:58.600
<v Speaker 4>like the guy who ran that bank was involved in

0:12:58.640 --> 0:13:01.920
<v Speaker 4>another bank crash. So going back to the fundamentals of

0:13:02.000 --> 0:13:04.440
<v Speaker 4>like knowing the founder or who's running the company and

0:13:04.520 --> 0:13:07.199
<v Speaker 4>what kind of intemporary they do or don't have, will

0:13:07.200 --> 0:13:09.319
<v Speaker 4>decide what kind of actions that are taking. And I

0:13:09.320 --> 0:13:14.320
<v Speaker 4>won't even mention Wells Fargo and other banks that introduce

0:13:14.360 --> 0:13:16.040
<v Speaker 4>the scamming come on.

0:13:16.679 --> 0:13:18.680
<v Speaker 3>And then also it's important to understand we talked about

0:13:18.679 --> 0:13:21.880
<v Speaker 3>this yesterday too. You got to diversify. You shouldn't put

0:13:21.880 --> 0:13:25.200
<v Speaker 3>all your money in just to think. And this is

0:13:25.200 --> 0:13:29.800
<v Speaker 3>why investing is important, because you should have emergency funds.

0:13:30.080 --> 0:13:33.319
<v Speaker 3>That's important. But at a certain point you got to

0:13:33.360 --> 0:13:36.800
<v Speaker 3>start diversifying. So whether it's in stocks, whether it's in

0:13:36.840 --> 0:13:39.840
<v Speaker 3>real estate, whether it's in you know, private equity, putting

0:13:39.840 --> 0:13:42.959
<v Speaker 3>money into different other businesses. You got to start thinking

0:13:42.960 --> 0:13:45.160
<v Speaker 3>strategically like how where can I put this money?

0:13:45.160 --> 0:13:45.280
<v Speaker 2>Now?

0:13:45.320 --> 0:13:47.000
<v Speaker 3>You just don't want to put money into something that's

0:13:47.040 --> 0:13:50.280
<v Speaker 3>going to lose money because that's not beneficial. But now

0:13:50.320 --> 0:13:53.000
<v Speaker 3>you have to actually start playing the game. It's like Monopoly.

0:13:53.280 --> 0:13:56.000
<v Speaker 3>When you don't win Monopoly by just having the most money.

0:13:56.160 --> 0:13:59.840
<v Speaker 3>You win Monopoly by having the hotels or the houses,

0:14:00.040 --> 0:14:02.040
<v Speaker 3>because then when they land on your hotel, your house,

0:14:02.080 --> 0:14:03.319
<v Speaker 3>then they have to pay you, right, And that's how

0:14:03.320 --> 0:14:06.640
<v Speaker 3>you actually win Monopoly. Because I've won Monopoly two times

0:14:06.640 --> 0:14:11.320
<v Speaker 3>in the last two weeks, and the Monopoly Champions playing well,

0:14:11.360 --> 0:14:13.760
<v Speaker 3>I beat my dad. It was my dad, my niece,

0:14:13.800 --> 0:14:16.440
<v Speaker 3>and my son. And then the other time it was

0:14:16.520 --> 0:14:18.800
<v Speaker 3>it was my niece, my son, and my sister.

0:14:19.040 --> 0:14:19.400
<v Speaker 2>Gotcha.

0:14:20.040 --> 0:14:22.400
<v Speaker 5>I'll give you the first one because your dad is legit,

0:14:23.640 --> 0:14:25.040
<v Speaker 5>you know, disrespect the second one.

0:14:25.040 --> 0:14:28.040
<v Speaker 2>Okay, one question. I got strategy. There's all types of

0:14:28.080 --> 0:14:33.360
<v Speaker 2>different rules you can do. It's all about strategy, all right.

0:14:35.560 --> 0:14:40.800
<v Speaker 6>My graduates from my school being forced back drop drop,

0:14:41.400 --> 0:14:43.320
<v Speaker 6>Mike drop back drop.

0:14:43.600 --> 0:14:57.440
<v Speaker 1>Drop, an illegal alien from Guatemala charged with raping a

0:14:57.520 --> 0:15:01.040
<v Speaker 1>child in Massachusetts and MS thirteen gang member from Al

0:15:01.120 --> 0:15:05.920
<v Speaker 1>Salvador accused of murdering a Texas man of Venezuelan charged

0:15:05.960 --> 0:15:09.880
<v Speaker 1>with filming and selling child pornography in Michigan. These are

0:15:09.920 --> 0:15:13.400
<v Speaker 1>just some of the heinous migrant criminals caught because of

0:15:13.440 --> 0:15:17.160
<v Speaker 1>President Donald J. Trump's leadership. I'm Christy nom the United

0:15:17.200 --> 0:15:21.920
<v Speaker 1>States Secretary of Homeland Security. Under President Trump, attempted illegal

0:15:21.960 --> 0:15:25.640
<v Speaker 1>border crossings are at the lowest levels ever recorded, and

0:15:25.680 --> 0:15:29.040
<v Speaker 1>over one hundred thousand illegal aliens have been arrested. If

0:15:29.040 --> 0:15:32.720
<v Speaker 1>you are here illegally, your next you will be fine

0:15:32.760 --> 0:15:36.880
<v Speaker 1>nearly one thousand dollars a day, imprisoned and deported, you

0:15:36.920 --> 0:15:40.480
<v Speaker 1>will never return. But if you register using our CBP

0:15:40.640 --> 0:15:43.360
<v Speaker 1>home app and leave now, you could be allowed to

0:15:43.440 --> 0:15:48.240
<v Speaker 1>return legally. Do what's right. Leave now. Under President Trump,

0:15:48.400 --> 0:15:52.000
<v Speaker 1>America's laws, border and families will be protected.

0:15:52.080 --> 0:15:54.200
<v Speaker 2>Sponsored by the United States Department of Homeland Security.