Jon Stewart and Mark Cuban SVB Chat interrupted at a bad moment
The collapse of the Silicon Valley bank last week sent the country into turmoil. If such a medium-sized bank can fail, is that a bad omen for the whole country? To make matters worse, during a discussion with super businessman and shark tank “Hai” Mark Cuban The problem with Jon Stewartthe connection of the former broke off at the most unfavorable and fatal moment.
Stewart and Cuban were joined by FDIC Chairwoman Sheila Bair, who, like Stewart, was not pleased that SVB’s wealthy shareholders were being bailed out. Cuban argued that they were indeed making huge losses. Stewart didn’t like that.
“Shareholders have taken a loss and are the last in line,” Stewart said.
“They’re not even in line,” Cuban pushed back. “It’s not like there was this big saving where we got out and the shareholders and all the tech bros came out alright. They were crushed, they were crushed.”
Stewart cut him off and said, “Well I think that’s a little misleading because these aren’t your average depositors, so for the people who are going to get their money back because it’s not fully guaranteed by the United States, there is there.” People who have done hundreds of millions of dollars. I mean, you’ve got Roku with, I don’t know, $500 million in it. These aren’t mom and pop investors.”
Then something foreboding happened. Cuban was about to say something about “the entire banking system in the world” when his connection suddenly went dead. This made Stewart and Bair nervous.
“Oh, did we lose him? Son of a bitch,” Stewart joked. “He just said ‘the entire banking system in the world’ and then we lost him! Holy shit! What can we do now? Mark Cuban just triggered a bank run! The entire banking system of the world…”
“I’m sure he meant to say it’s perfectly safe and sound,” Bair interjected.
Cuban, who was doing the chat from his plane, again blamed the collapse on regulator failure, only to have his call dropped again.
When the news of the collapse of the SVB broke last week, many people freaked out. Some took out their anger on Jim Cramer, who was often wrong bad money Fortuneteller who, of course, just last month advised people to buy stocks in the bank. There were certainly worse places to stage it.
https://uproxx.com/viral/jon-stewart-mark-cuban-cut-off-awkward-moment/ Jon Stewart and Mark Cuban SVB Chat interrupted at a bad moment