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Omg tried to withdraw money from chocolate finance cannot immediate withdrawal. Say need up to 10 working days to withdraw

T

tmster

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DragonFire said:
All reasonable actions... It is not surprising IMO that they have limited cashflow. Finance houses are not in the practice of keeping vast amounts of liquidity. Look at Lehman. They went bankrupt because of liquidity loss, and not because they were broke (Ok...loss of liquidity is technically broke, but I assume you know what I mean)

This run on them is played up by a mix of their own actions, financial influencer amplification attack (lol). Becomes a self sustaining loop. GG. No matter how deep their buffer it will be overrun.
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Who told you lehman was due to liquidity loss? It was due to the junk bonds and their ratings. After that it just snowballed when the market realized these bonds were backed by nothing.

They could have just came out and assured investors with information about cashflow, segregated funds, investment banks involved and company's contingency plans. Instead they tried to sidetrack with those pointless explanation of why they disabled AXS and instant withdrawals which rise even more qns of why they even offer these features that they can't fulfill. Investors are not interested in the nitty gritty, they want assurances that their money are safe in the long run.
 
win_man

win_man

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Really rich people as their customers. Can pay so high bills until can chase miles. Usually i dont even bother with miles since my spending so little. Just hitting $500 monthly CC spend only.
 
carey

carey

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The_Davis said:
The problem is T+2 at most is Wednesday get Liao.
Now is anywhere from T+3 to T+10.

Definitely got something fishy 🐟🐟🐟
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I suspect they also got suffer some "losses" if they need to make big liquidation in such a short time

MM funds are traded like stocks and if there are a lot of selling pressure, prices will fall

So their investors may get less back than what they put in
 
tremor

tremor

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wa, this type I will not touch with a 10ft pole. Heng I never use them at all.
 
D

DragonFire

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tmster said:
Who told you lehman was due to liquidity loss? It was due to the junk bonds and their ratings. After that it just snowballed when the market realized these bonds were backed by nothing.
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It was ultimately a liquidity issue was it not? They ran out of operating funds, and the US$1T they had locked up in hard assets didn't really mean a thing.
 
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