Blake Thomas

[Blake Thomas @RealBlakeThomas]

@unusual_whales Shouldn’t all these companies be happy they’re saving the environment?

[Blake Thomas @RealBlakeThomas]

@FOX13News Shore Acres around 8am this morning

[Bill Ackman @BillAckman]

The gov’t has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowing @SVB_Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Absent @jpmorgan @citi or @BankofAmerica acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the gov’t guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured deposits from all but the ‘systemically important banks’ (SIBs). These funds will be transferred to the SIBs, US Treasury (UST) money market funds and short-term UST. There is already pressure to transfer cash to short-term UST and UST money market accounts due to the substantially higher yields available on risk-free UST vs. bank deposits. These withdrawals will drain liquidity from community, regional and other banks and begin the destruction of these important institutions. The increased demand for short-term UST will drive short rates lower complicating the @federalreserve’s efforts to raise rates to slow the economy. Already thousands of the fastest growing, most innovative venture-backed companies in the U.S. will begin to fail to make payroll next week. Had the gov’t stepped in on Friday to guarantee SVB’s deposits (in exchange for penny warrants which would have wiped out the substantial majority of its equity value) this could have been avoided and SVB’s 40-year franchise value could have been preserved and transferred to a new owner in exchange for an equity injection. We would have been open to participating. This approach would have minimized the risk of any gov’t losses, and created the potential for substantial profits from the rescue. Instead, I think it is now unlikely any buyer will emerge to acquire the failed bank. The gov’t’s approach has guaranteed that more risk will be concentrated in the SIBs at the expense of other banks, which itself creates more systemic risk. For those who make the case that depositors be damned as it would create moral hazard to save them, consider the feasibility of a world where each depositor must do their own credit assessment of the bank they choose to bank with. I am a pretty sophisticated financial analyst and I find most banks to be a black box despite the 1,000s of pages of @SECGov filings available on each bank. SVB’s senior management made a basic mistake. They invested short-term deposits in longer-term, fixed-rate assets. Thereafter short-term rates went up and a bank run ensued. Senior management screwed up and they should lose their jobs. The @FDICgov and OCC also screwed up. It is their job to monitor our banking system for risk and SVB should have been high on their watch list with more than $200B of assets and $170B of deposits from business borrowers in effectively the same industry. The FDIC’s and OCC’s failure to do their jobs should not be allowed to cause the destruction of 1,000s of our nation’s highest potential and highest growth businesses (and the resulting losses of 10s of 1,000s of jobs for some of our most talented younger generation) while also permanently impairing our community and regional banks’ access to low-cost deposits. This administration is particularly opposed to concentrations of power. Ironically, its approach to SVB’s failure guarantees duopolistic banking risk concentration in a handful of SIBs. My back-of-the envelope review of SVB’s balance sheet suggests that even in a liquidation, depositors should eventually get back about 98% of their deposits, but eventually is too long when you have payroll to meet next week. So even without assigning any franchise value to SVB, the cost of a gov’t guarantee of SVB deposits would be minimal. On the other hand, the unintended consequences of the gov’t’s failure to guarantee SVB deposits are vast and profound and need to be considered and addressed before Monday. Otherwise, watch out below.

[Tom Brady @TomBrady]

Truly grateful on this day. Thank you 🙏🏻❤️

[Elon Musk @elonmusk]

🐝 all u can🐝

[92.1 The WOLF @921FMtheWOLF]

92.1 The WOLF wants to share the wealth! WIN YOUR SHARE of the record-setting $1.9 BILLION #Powerball Jackpot! Just LIKE and RETWEET this post of our numbers. If any of these numbers win the $1.9 BILLION Jackpot Monday night, you'll win a share of the money!

[10 Tampa Bay News @10TampaBay]

IT'S FALL Y'ALL! Here in Florida, you know what that means...

✨Nothing✨

[CNBC @CNBC]

Why Patagonia's billionaire founder gave away his $3 billion company to fight climate change: 'Earth is now our only shareholder' (via @CNBCMakeIt) https://t.co/9xYpWQU4Vd

[The Bear @TheBearFX]

You might want to hydrate. Episode 7 of #TheBearFX was filmed in one take. Watch it AD-FREE now, only on Hulu.

[Elon Musk @elonmusk]

If I die under mysterious circumstances, it’s been nice knowin ya

[Bitcoin Magazine @BitcoinMagazine]

The heart of Africa has adopted #bitcoin as legal tender.

Only a matter of time until the rest of the continent follows.

[visittampabay @VisitTampaBay]

Today is April 21, 2022 and it's another absolutely beautiful day in Tampa Bay.

[Elon Musk @elonmusk]

i♥️u

[XXL Magazine @XXL]

Kanye West and Jamie Foxx during the recording session for their collab “Slow Jamz”

[Jake Paul @jakepaul]

Screw it… If Rams win the Super Bowl I��m giving one person $10,000 who likes and retweets this Tweet.

Must be following me and @SimplebetHQ so we can DM you if you win. GO.

[Anya @anyatrades]

Don’t forget the stock market is closed today.

Happy holiday, enjoy your day 🌸

[unusual_whales @unusual_whales]

Today in the morning, I exposed numerous politicians who violated either the STOCK act, or posted unusually convenient trading.

Should I do it again?

YES YES YES
👇 👇 👇

[Newegg @Newegg]

Hey #ShibArmy, how we looking on America's largest digital out-of-home billboard? @ShytoshiKusama #Shib

We'll be officially accepting @Shibtoken in by early December via @BitPay
https://t.co/MR2ydiQpq6

[Jake Paul @jakepaul]

Yo @elonmusk if you donate $6 billion to the UN to end world hunger

I’ll also donate $10 million if this gets 690k retweets