Business
PacWest Weighs Strategic Options, Including a Sale
PacWest Bancorp., a regional bank teetering following the collapse of three rival lenders, has been weighing a range of strategic options, including a sale, according to people familiar with the matter. Herman Chan of Bloomberg Intelligence has more.
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DraftKings CEO Jason Robins says the company is positioned to compete in the gambling market regardless of how the Supreme Court rules on prediction markets.
Robins says DraftKings has diversified across sports betting, prediction markets and other products so its business isn’t dependent on a court outcome it can’t control.
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Yardeni Research President Ed Yardeni argues that 10-year Treasuries yielding around 5% offer an attractive real return, driven by expectations that productivity gains will keep inflation contained. While he expects bond coupons to outpace inflation over the next decade, Yardeni maintains that stocks will continue to outperform bonds over the long term.
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Gas prices are up and Trump is out of time to bring them down before midterms. On today’s Big Take podcast, what high energy prices could cost the Republican party.
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Democrats’ warning to “lawyer up” is sending ripples through Washington as the party gears up to launch investigations into President Trump and the people and companies in his orbit.
Bloomberg’s Joshua Green joins Max Chafkin and Stacey Vanek Smith on the Everybody’s Business podcast to discuss what these probes might look like under a Democrat-led Congress.
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@jamese809
January 1, 2024 at 10:35 pm
I was able to close my accounts at Pac West on Friday.
@thomasucc
January 1, 2024 at 10:35 pm
Bailout
@thomasucc
January 1, 2024 at 10:35 pm
Socialism
@mohamedgoldstein5565
January 1, 2024 at 10:35 pm
These morons are always a day late
@jbl6338
January 1, 2024 at 10:35 pm
Biden and his team are doing such a great job managing (damaging) the economy. 4 more years! Biden 2024!
@bluestone9562
January 1, 2024 at 10:35 pm
One of the reasons why the bank stocks drop at the news of unrealized losses is the betting by the sharks that if the fdic takes, the fdic may not reimburse the stockholders at book value. The drop in the feeds more sharks and makes it more likely that the fdic will have to take over. So if the fdic makes a pledge to reimburse at book value the sharks will stop shorting at book value.
@AlgoNudger
January 1, 2024 at 10:35 pm
I bet, even SPDR – SSgA (KRE) will collapse. 🤣
@royed31
January 1, 2024 at 10:35 pm
When you invest in Banks, you are investing in risk and the bank's ability to manage it.
@royed31
January 1, 2024 at 10:35 pm
As the tide goes out this weekend …….
@user-cc1bf2pv4h
January 1, 2024 at 10:35 pm
so is this the next?
@tomhook4819
January 1, 2024 at 10:35 pm
I hope Fed and Powell are not distracted. These banks are just noise, good riddance. The no 1 mission is hiking interest rate as much as we can and as fast as we can
@ksiey98
January 1, 2024 at 10:35 pm
I have said this after the SVB event, get your money out, the government cant save all of them
@leftwing-teachers-r-perverts
January 1, 2024 at 10:35 pm
the selloff in Pacwest is completely misguided, they're in much better shape than feared. 75% of deposits are insured. With the now failed SVB they had 90% uninsured, basically opposite of Pacwest. I'm buying
@brianf7087
January 1, 2024 at 10:35 pm
Democratic controlled sh1t holes city have have all there banks Crashing . There wont be any money left for the Insurance in all the other states. How Convenient
@jackwilliamatkins5602
January 1, 2024 at 10:35 pm
Me Bank will fail
@lenhua1947
January 1, 2024 at 10:35 pm
BAC takeover here , next!
@lenhua1947
January 1, 2024 at 10:35 pm
Strategic Options= $0 per share!
@tomspeed3354
January 1, 2024 at 10:35 pm
unreal how shorts are allowed to take out one bank after another. criminal action
@MeirGilady
January 1, 2024 at 10:35 pm
Probably allegly PACW cook the books for Q1 to cover deposit draw/ and got short term loan from another bank to show a small grow in deposit/ this will not end well
@jmtake85
January 1, 2024 at 10:35 pm
if pacwest and western alliance fail sell all my us share long china.
@2ndgradeuscitizen
January 1, 2024 at 10:35 pm
I am being told CA is too cool because it's 5th largest world's economy. Why can't CA bail out its failing banks? Why should a hard working American from a poor area in a red state pay for wrong decisions made by some rich left-leaning person living in a luxury gated community in CA who is constantly shitting on the country? Is it fair?
@scoria1755
January 1, 2024 at 10:35 pm
You can be a credit union member if you have a family member in that credit union. Move your money there.
@apope06
January 1, 2024 at 10:35 pm
The only thing worse than a Recession is a recession along with high inflation. Fed has to raise rates FAR MORE. The problem is that the big banks have more regulation for money on hand and diversity of clientele. A clear demonstration of how democratic socialism is superior.
@jeffhreid
January 1, 2024 at 10:35 pm
Fractional reserve lending always was a confidence scheme. When confidence is lost inflows turn into outflows and banks fail
@hangender
January 1, 2024 at 10:35 pm
Cuckwest
@jesuschrist8
January 1, 2024 at 10:35 pm
Do banks want to try short squeezing their stocks?
@shadowbanned4days
January 1, 2024 at 10:35 pm
Brrrrrrrrrrrr
@rubenortega6088
January 1, 2024 at 10:35 pm
Herman?
@pauln7029
January 1, 2024 at 10:35 pm
Let's be honest, the FDIC has given ammunition to shorts. Shouldn't have wiped out frc out, should've helped with selling instead of taking it
@meehanasap
January 1, 2024 at 10:35 pm
If depositors still have more than 200k in any bank, why should anyone be bailed out? Couldn't these banks all encourage depositors to spread their risk amongst all these banks?
@xecuter2006
January 1, 2024 at 10:35 pm
Another one bites the dust..
@MrZrryan2
January 1, 2024 at 10:35 pm
JUST the fact that they would publicly admit to weighing their options tells me two things;
1. This bank is run by IDIOTS., and,
2. They have a serious liquidity issue.
Why is every bank in California failing??? How can this be possible???? Surely all those "progressive policies" that California is known for, the ones that give free loans at ridiculously low rates to every minority or marginalized group can't fail, can it? And where is the California governor in all of this??? Why haven't we heard from him at all??
@manuvns
January 1, 2024 at 10:35 pm
Will bank be selling for pennies for the dollar or pesos
@TheSushiandme
January 1, 2024 at 10:35 pm
Lol 😅😂
@jimbojimbo6873
January 1, 2024 at 10:35 pm
Honestly hopefully ALL regional banks disappear. There’s absolutely no reason for regional or smaller banks to exist.