Steven Mnuchin on NYCB investment: Great opportunity to turn this into an attractive regional bank
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- เผยแพร่เมื่อ 7 มิ.ย. 2024
- Former U.S. Treasury Secretary and Liberty Strategic Capital founder and managing partner Steven Mnuchin joins 'Squawk on the Street' to discuss the firm's investment in New York Community Bancorp as part of a $1 billion capital injection into the struggling regional bank, the bank's loan portfolio, whether this will be a long-term investment for Mnuchin, and more.
Remember folks, Mnuchin is a connected political figure, investing other peoples' money. I guarantee you he gets paid regardless of NYCB success or failure.
💯
Longer Time Sir, Mr. Steven Mnuchin And That Is You. I Have Not See You On TV For A Long Time. Good To See You On TV , Mr. Steven Mnuchin And Good Luck. Sincerely , ❤❤❤ KNT.
At least he's putting his money (his money and money under his management) where his mouth is....
He knows Fed will bail them out
@@red149 when the FED does a bailout , they wipe out the shareholders
If Steven Mnuchin has raised a billion for any company that is a good sign of a future turnaround.
Check the price now. First quarter numbers aren't even out yet.
Good luck to NYCB! Hopefully this is end of the banking problems.
based on who got into this bail out I'm assuming their companies rely on this bank being open.
the days of working out of big commercial offices are over as the new work environment or many is at home
No way he’s not involved in manipulating this scenario.
It was very blatant manipulation. The stock was completely halted for 2 hours and magical gained over 3 dollars "on this news".
This guy is behind bringing it down then buying at pennies
Everyone leaves government a billionaire
The material weakness in internal controls means that a misstatement cannot be prevented or detected, it does not mean that the financials are misstated.
Ill wait until the commercial leases expire so I can buy it cheaper
Vultures are circling right now. 50% off peak prices is just about the number needed for CRE in troubled markets.
probably has govt or FED guarantees to bail it out, just like 08-09 period, no risk
You bet they have guarantees. Simple math-----do you buy at these levels?
wait to see how it plays out, this is early innings at this stage. yield curve needs to un-invert and things not fall apart. typically that does not happen. @@weirdshibainu
@@weirdshibainunope. They can't afford to have a bailout under this admin.
@@poopsmith6853Of course they can
$6 book value at current levels stock is cheap and a strong buy with 120% potential upside
it will take a lot of time for stock price to match the tangible book value.
He is getting $2 per common share, his one billion get him 500 million shares. Plus the approximate 800 million shares outstanding before the deal the total shares outstanding is about 1.3 billion shares. So he owns about 38% of the bank that is very good deal for him. On top of this he is getting warrants of exercise price at $2 and preferred stocks. Right now Friday the common closed about $3 and changes so he made $500 million profit on his common stock already. He is a smart guy very good with numbers so I think he will make it work.
before the deal the total
yeah you can drive prices up but if you want to get it in your hands you have to sell it which is why you need buyers so you can sell at a smaller amount, without causing a panic. Market Maker 101
the new fed chairman Steven Mnuchin.
"Mr. Mnuchin’s fund raised $500 million each from Kuwait, the United Arab Emirates and Qatar, as well as $1 billion from Saudi Arabia"
So?
saudis were also a big shareholder of signature bank previously. they seem to invest a lot in regional banks in the USA.
It has $40B dollar of rent control apartment on the book. assume 25 cent hit on the dollar, that's $10 Billion loss. $1B is no way close to being enough.
He’s hilarious. “We’ve been looking at NYCB for a while, and it looks like a very attractive investment. We just needed to band together and give them 1B to cover some minor things. Nothing to see here.” And these are supposed to be the “smart money” guys. Lmao.
okay but who assumes things like that? not every building with go bust. You dont cut off an arm when a finger is infected, you cut off the finger. The people panicking right now over 2.5 billion in offices, when theres 40 billion in properties all over the country? they're acting like NYCB was the only one financing real estate purchases in the city for the last 20 years. and only their properties are failing. Everyone else is magically immune and able to pay the mortgage? crazy...
Jesus
@@shahek88 they have the most exposure he's saying, corporate office space is falling.
#SHORTNYCB
Homie is going to acquire it . Then Gut it.
Then sell the rest off !
Greed is Good “
Gordon Gekko
It took me a while to figure out that what you're saying is spot on. He got special terms on the preferred stock and now he gets full control of the company and the sentiment. He will shake out all the loose bond holders and the common stocks and own this baby for dirt.
The old boss of Bank of the West. Same story new suit
What do you mean?
@KK-pm7ud this same pattern happens with every bank failure. It tanks becuase of poor management gone so wrong it's unrecoverable, stock gets halted when it should go bankrupt, magic nothing but numbers on a computer money gets 'invested', stock jumps, it all evaporates in weeks. This deal did not 'shore up' the bank, it diluted shares by 50%.
Someone just did the buy back deal..half sale
After the initial plunge the insiders tried to buy a few shares to show bravado.@@poopsmith6853
I would not trust any thing this guy would say.
Ah yes, Stevie Munchkin - one of Doobie Jay Turd's swamp monsters!
😂😂😂
Whatever man
he bought the assets so cheap. unbelievable. former ceo did a bad job by not protecting the existing shareholder's rights.
BTC up as banks down... BTC up as debt increases $1,000,000,000,000 every 100 days here in the US.
Invest in the future. US banks are the future? ... load up.
I'll stick with engineering, innovation capital efficiency.
Long BTC and TSLA
PRINT THE MONEEEYYYY !!
sounds like he wants your money to help with liquidity, its a scam.
Buy your puts. Fail baby fail!!
lol
Hell yeah. They’re not fooling anyone. I’m expecting NYCB to be right back where it was Thursday before the infusion, sometimes next week?
Average Joe: “I’d like to buy a home now that I’ve developed a family by working 40+ hours every week and managing my money conservatively.”
“Sorry sir, we know you’ve got a pretty decent credit score, you’ve been paying your rent on time for decades, but we just can’t afford to give you this home loan buddy.”
Banks: “I lost everything because I made bad bets for decades and I’m filing for bankruptcy, gimme money.”
“Approved approved approved!
@@Brandon-ml2zw Sad but true. It's about who you know and who knows you.
I think it’s not a good idea to probably trust any of these people
Mnuchin is no dummy but anyone who invests in NYCB common stock. Will get it hard. Don't be stupid this dude is not here to help you.
Oy vey