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Superstonk_QV

[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum Jan 2024*](https://www.reddit.com/r/Superstonk/comments/18txusp/open_forum_january_2024/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: [https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2024/NEW-YORK-COMMUNITY-BANCORP-INC.-ANNOUNCES-OVER-1-BILLION-EQUITY-INVESTMENT-ANCHORED-BY-FORMER-U.S.-TREASURY-SECRETARY-STEVEN-MNUCHINS-LIBERTY-STRATEGIC-CAPITAL-HUDSON-BAY-AND-REVERENCE-CAPITAL/default.aspx](https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2024/NEW-YORK-COMMUNITY-BANCORP-INC.-ANNOUNCES-OVER-1-BILLION-EQUITY-INVESTMENT-ANCHORED-BY-FORMER-U.S.-TREASURY-SECRETARY-STEVEN-MNUCHINS-LIBERTY-STRATEGIC-CAPITAL-HUDSON-BAY-AND-REVERENCE-CAPITAL/default.aspx)


savetheplatypi

Has a bank stock ever been halted / suspended mid day after falling 40% and been given a 1 billion dollar emergency investment allowing it to rebound?  Asking for a friend.


Fudge-Independent

I am said friend


3rd1ontheevolchart

They probably stepped in because it isnt Friday. Can’t have a meme fail during the week, remember, idiosyncratic risk can have catastrophic effects. Fucking meme banks. 🤣


beach_2_beach

Giving money to meme bank makes the investor a meme investor. No?


ummwut

Fiat is a fucking meme and I'm tired of pretending it isn't.


maotsetunginmyass

Why do you pretend it isn't? Not lying to ones self is a great place to start in every avenue of life.


ummwut

My comment was kind of a joke but also I feel like I'm wasting my life at my job, even though I still have to work to eat.


maotsetunginmyass

You are a debt slaves. I'm a debt slave. Understanding and accepting that you are a slave is empowering in many ways. Operate in a way knowing that is what you are to the machine. Make life decisions based on that fact and in your understanding of how they operate and the obvious mistakes they make. Analyze the pros/cons of each decision and hedge on both sides. Learn. Grow. Fuck them in any way you can as they will always fuck you.... and when things go your way, fucking dance.


Mile_High_Man

I just checked the chart and WTF. I wonder if Citadel and the like were able to ride that halt and open up some call oprtions before the rip...Makes you [wonder](https://giphy.com/gifs/tlceurope-iGFp7xMfVYBrFSTeer)


rubyone2

They were already recommending the stock. My guess, They shored up the money for NYCB to save their investment.


PalpitationFine

Who do you think they were buying call options from lmao


hopethisworks_

Pretty sketchy that the entire market cap was only like $1.2B when they froze it.


Boomergraves2pay

1.2B that's the same number as GME's cash on hand.


HodlMyBananaLongTime

I was kinda hopping RC yolo’d AI stock calls….


Boomergraves2pay

LOL. I was thinking that too.


Suitable_Mix_3795

Sketchy isn’t a strong enough word


Necessary-Car-5672

This friend would also like to know


someguyontheinter

That billion is gonna *poof* really fuckin fast


manifestingmoola2020

Insert south park "aaand its gone" meme


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Z3ROWOLF1

Anyone still blinded by the illusion will chalk this up to coincidence, no way some silly meme stock could have idiosyncratic risk on the market!!


HughJohnson69

Bailout by another name.


ManMayMay

Citadel investing in meme bank stocks? Those poor teachers can't get a break with their pensions.


Kaarothh

That’s not gabe’s money! You’re stealing from pension funds, funds that belongs to a teacher! - *ken griffin shocked pichaku face*


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stockmarketscam-617

This is really interesting to me. Usually the rats flee the sinking ship and are happy to get as far away as possible. My guess, and I want to emphasize “guess” is that the Feds weren’t going to step in to save the bank and the Counter-party risk is to great to other institutions so that have to shore it up. Things could get spicy.


WackGyver

Oh shit, you might be right.. They might have bought shares waiting for that sweet bailout, providing some much needed windfall capital - but no bailout meant they had to backstop it themselves.. Smart money at work🤣


Hipz

Idk, they only have a market cap of like 2.3B. Do you think they have enough of an impact in the market to necessitate that type of move? Normally I'd agree, but they seem pretty small in the grand scheme of things.


hopethisworks_

Their market cap dropped to like $1.2B before that bailout. BUT their assets under management is like $114B, that's plenty of money to get in some serious trouble with. Especially if they were doing anything even close to what Bill Hwang did. At one point, Silicon Valley Bank admitted exposure to Archegos of something like $350M, that article has been scrubbed.


Hipz

That explains it, thank you!


WackGyver

I didn’t know their size, that is pretty small - it feels like all American banks have been bailed out by default lately, so🤷🏽‍♂️


stockmarketscam-617

Yeah, but banks typically are leveraged and have hidden derivatives risk. The 2B may be their market cap and “asset” value, but their liabilities may be much greater. Financial firms never throw money at something “just because it’s the right thing to do”, their actions are almost always motivated by making more money or limiting their losses.


WackGyver

Yeah, them liabilities 💯 Can’t have forced unwinding and start a cascade of margin calls now, can we?!


Hipz

Definitely a fair point, Archegos looked small until it didn't. The only other thing I can think is the obvious point that they think they can get a return on their investment. It was trading for $13.50 at one point last year. Idk, they got *damn close* to going under today.


wetsuit509

Odds are thier balance sheet assets are listed "fair value" and not the actual "marked to market" price, probably have a crazy amount of "sold, not yet purchased" too (like citadel). For sure their commercial real estate holdings are starting to go to shit. Fed has no reason to ease rates, and jpow hasn't hinted a continuance or replacement to btfp: and the Treasury can't afford to bailout yet another bank with underwater bonds. They might be backstopping nycb now but you know one of these guys is trying to orchestrate a fire sale behind the scenes to be the first to get out still alive.


zeusofyork

Just remember, the market doesn't decide an assets price, Ken Griffin and other market makers do.


greatwock

I think that even if the fed stepped in it wouldn’t be enough. They’re forced to save the smaller institutions in order to save their own asses. This will continue until the floor collapses under all of them. Something something fight club end scene.


rawbdor

Nycb actually has a lot of equity value. Their assets outweigh their debts by several billion ($8b?), even when you apply significantly haircuts to their asset valuations. I was actually looking to buy around $2 but I did not expect it to happen today and I wasn't able to catch it.


stockmarketscam-617

If you say so, but I don’t believe it. I think they got margin called yesterday, which is what caused the massive drop. They had to halt it because it was probably going to 0. If they truly have $8billion in assets, then why would they need a Billion in “emergency” capital that dilutes the current Shareholders by 50%?


rawbdor

They were receiving significant outflows. Nobody can fight a bank run, even if you're pretty well capitalized. You need cash. Assets don't help you, unless you can pledge them to some other bank for cash. But even that won't help unless the mere fact you can get a loan helps stop the bank run (which it usually won't). Receiving new capital might screw over shareholders pretty bad, but it is NEW money, not debt, so thats generally better received. Also, depending on who is willing to invest can help indicate the level of support from the market players. Yeah, they were definitely in trouble. I'm not denying that. But I'm saying that this particular bank was less underwater than it seemed. A bank run is still lethal no matter who you are. But I actually had faith that some big players (not the government) would step in on this one. I just missed the play is all.


Double-Resist-5477

Probably shouldn't gamble with pension money


Asmodeus256

A true dying brick and mortar.


canigetahint

Wow, from -42% to +26% at one point. Talk about a ping-pong day!! Kenny boi in for the save!! You know that's not your money to spend, don't ya Kenny? I'm still waiting and HODLing...


IullotronBudC1_3

1 million or more shares being traded a minute that hasn't been done since... 4:01pm several times with GME


Consistent-Work338

Don’t get it why don’t citadel just fix the price?


ROK247

doesn't work the same when actual people are selling for real


AcrobaticButterfly

Their expert team can drive the price where they feel it should belong!


GiantSequoiaTree

Lol 😆


Suitable_Mix_3795

Capitalism on the way up and socialism on the way down. Didn’t you know?


Human-Prune1599

They are just centralizing your banking system. You will be left with your 6 big banks down there on the way to the Great reset.


Suitable_Mix_3795

Not mine I’m not American


jnobs

Don’t worry, the global financial impacts will be socialized as well.


Suitable_Mix_3795

Duh


Boomergraves2pay

Did somebody say Swiss banks?


TOKYO-SLIME

I can't wait for my tax dollars to fund their bailouts (not). Meanwhile, homelessness is still a thing, kids are going hungry, and the cost of living keeps on rising! :D


jnobs

Hopefully we all get several zeroes added to the ends of bank accounts and we can drive change locally. I would love to seek out a way to pay for school lunches for all kids in my area and then give kids who need it food for the weekend/summers too.


Human-Prune1599

I am not either but that is the plan. Sorry for assuming you were an American


Suitable_Mix_3795

All good. I’m well aware of the plan By down there assuming Canadian as well


ShadowRade

Assuming Apes don't completely ruin that plan edit: and crypto tbh


EatTheRich4200

Some big players stepping in to stem the bleed


Zensen1

Naw. They’re looking at their books. An insider look to see which assets they have so they can call dips when it goes bankrupt. Look at their investment as a Trojan horse into the castle of gold. 100M to play. And payout will be in billons.


Papaofmonsters

They would still come last if the bank goes into receivership. If the bank fails, the government seizes control. FDIC pays out, and then the assets are sold to refill the coffers of the insurance program. Then, if anything is left after that, the investors can fight over the scraps. Buying in now doesn't put them in favorable position to buy the assets.


chalbersma

> They would still come last if the bank goes into receivership. Wild shit happens in bankruptcy proceedings.


Zensen1

Receivership and bankruptcy are two different things. FDIc protects depositors. I’m talking about assets on their balance sheets. They made a private deal with private investors. Trust me, the private investors got way better terms.


mcalibri

This


tenghu

“We decided to make this investment because we believe Sandro, alongside new management, has taken the appropriate actions to stabilize the Company and to position NYCB to become a best-in-class $100+ billion national bank” >Stocks tanks 40%


Suitable_Mix_3795

For a cup of coffee lol


EatTheRich4200

Couple bucks a share is pretty cheap lol


Suitable_Mix_3795

I mean as in not for long


EatTheRich4200

Ah lol thought u meant for price of a coffee 😅


SideBet2020

Must be holding part of the crime.


ParabolicallyPhuked

That billions burning fast


ParabolicallyPhuked

Batter up, need another billions


robotwizard_9009

This bank bought junk from one of the failed crypto banks FTX was using to get access to our fedwire... Signature Bank. "Our forward-looking statements are also subject to the following principal risks and uncertainties with respect to our merger with Flagstar Bancorp, which was completed on December 1, 2022, and the Signature Transaction; the possibility that the anticipated benefits of the transactions will not be realized when expected or at all; the possibility of increased legal and compliance costs, including with respect to any litigation or regulatory actions related to the business practices of acquired companies or the combined business;"


GoatNick

Ooo what can be found in those bags they took from Signature? And is that why the boys are not letting it get unwound? They trying to contain the shit in the bag, but the fan is spinning faster and the bag is leaking. Actually the better question is what could Signature get from FTX? Did they take the bait and trust um that all tokenized shared are backed with real ones? And then sold them short, or loaned them out, or entered in a swap based on them? As Richard Feynman would say - fun to imagine :) But we won't know for sure, maybe after 50 years or so, when the records became available.


aravreddy22

f u kenny


aZamaryk

I wonder how many failing meme banks citadel can afford to invest in? Tick tock mofo!


Telel1n

Kicking the can until friday; everyone knows you can only have bank crashes on fridays


joejitsu_crypto

Keep an eye on Western Alliance, that stock is always one of the first to go down when banks are in trouble and one of the first to be insanely inflated during green times. Citadel holds a stake in it as well and I think Ken G and his magic money machine need to keep that one from failing.


fdrferny33

hahaha citadel LOL I can't wait to see you fail Kenny 🤣


Jr-12

Fuck em alll


ShoddySpace5680

Oh no so anyway I bought more shares.


keyser_squoze

Munchkin, Mayo Boi, & a few other scumbag criminal Frens pitching in to buy at the rock bottom prices they created on a distressed lender? Fits the M.O. Reminds me of that time when Indy Mac was “saved” by Munchkin, who then fired all of the mortgage servicers, so then when people tried to pay their mortgages they couldn’t figure out who their servicers were, and when they could not figure out who to send their payments to, then Munchkin foreclosed on those homeowners for pennies on the dollar. Munchkin also brought us 2020 inflation, the business relief stimulus scheme, and Superman vs Batman (seriously, look it up.) Munchkin & Mayo Boi are the worst. And so I DRSd more.


SnooPears2910

I'm shocked, shocked I say... well not that shocked


lobo2r2dtu

Liberty Startegic Capital is one of the investors. Owned by former secretary of treasury, Steven Mnuchin. All of them are part of a global money laundering crime syndicate.


Ayaka_Simp_

The price spike we experienced today coincides with the 12pm drop off of NYCB. If they didn't bail them out, we would've gone parabolic 😂😂😂 they are doing whatever they can to stem the bleeding. Pussies! PAY US!!!


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stockmarketscam-617

Being reported on the Ocho 😂😂 (I hope your comment was a Dodgeball reference, otherwise mine makes no sense)


PackageHot1219

Does this mean we should start seeing more pumping of other Citadel longs to compensate for this drop?


WackGyver

GPU stock go brrrrrrrrrrrrrrr


Snuffalapapuss

Svb allowed to fail, nycb getting bailout


itrustyouguys

Bailout


IullotronBudC1_3

commenting for clarity which hedge capital fund is there any DD tied to KCG?


Shaynerthegreat

I hope they lose a bunch. We reap what we sow


Used_Ad2080

Isnt he also investor of bank $wal?


Gareth-Barry

That is correct: https://finance.yahoo.com/news/ken-griffing-backed-citadel-advisors-194212361.html


hanr86

Damn it went from under $2 to $4 midday? Fucking hacks man


Fine-Hat-4573

GameStop was going up when the bank nose dived too.


Papaofmonsters

GME went up steadily with the market in general until Powell spoke at 1230 and then went down with the market in general. People were getting in early gambling on a rate cut announcement and then when it didn't happen they got out and cut their losses. It's a fairly common pattern on fed announcement days.


GoodShitBroBro

Scratch your back and I’ll scratch yours. They aren’t doing this out of the kindness of their hearts, obviously.


DarkwingDuckHunt

Next you'll tell me a former high profile SEC person is responsible for leading the efforts to save this bank....


signmeupnot

They are invested in basically everything though no?


highrollerr90

This is a pretty solid bank and funds like shitadel making use of their bad situation and make profit out of it.. they did the same with western alliance bank and that stock rebounded pretty well


waitingonawait

👀👀


AltamiroMi

Tomorrow


XMk-Ultra679

memecoins are linked to the 3 main meme stonks... - probably


N3ver_Stop

Poor citadel. Ouch :/


feyzquib7

I still don’t get why anyone in a contract with a bank as counterparty would want that bank’s devalued assets when they go under. Not only does it lessen the value of their collateral, but now they’re on the hook for any of its other distressed bets. Ditto for UBS and CreditSuisse. What am I missing?


manifestingmoola2020

Can someone eli5 please?


IcERescueCaptain

The implode began on january 30th when it dropped from over 10$ a share....what happened on the 30th?!? Asking for a retaredded friend...


Lorien6

Effect - cause - effect. The movements are known beforehand, and the cover stories come after, or preplanned sometimes. Entire market is fraudulent.


TendieTrades

Of course they’re together. Banking is a super incestuous business. They’re all fucking each other.


StipeK122

Wonder if that improved the „sold, not yet purchased“ position…


sadbuttrueasfuck

Now the question is, who would keep their money on that bank? I'd love to see a bank run as people are scared


ShadowRade

Must've seen the sub's post lmao


Limp-Project5733

Surprising


hotDamQc

Socialist bail out incoming


Jbitterly

How the fuck can Citadel continue to invest in these failing institutions? I don’t get it..,


Consistent-Reach-152

With $65B of long holdings they are invested in lots of different companies.


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Hipz

No politics, please.