Steven Mnuchin on NYCB investment: Great opportunity to turn this into an attractive regional bank

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Күн бұрын

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.

Пікірлер: 68

@fooslinger 3 ай бұрын

Remember folks, Mnuchin is a connected political figure, investing other peoples' money. I guarantee you he gets paid regardless of NYCB success or failure.

@7_of_9 2 ай бұрын

💯

@knt3219 3 ай бұрын

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.

@lakeguy65616 3 ай бұрын

At least he's putting his money (his money and money under his management) where his mouth is....

@red149 2 ай бұрын

He knows Fed will bail them out

@lakeguy65616 2 ай бұрын

@@red149 when the FED does a bailout , they wipe out the shareholders

@richardgodwin2967 2 ай бұрын

If Steven Mnuchin has raised a billion for any company that is a good sign of a future turnaround.

@poopsmith6853 Ай бұрын

Check the price now. First quarter numbers aren't even out yet.

@andreab.8523 3 ай бұрын

Good luck to NYCB! Hopefully this is end of the banking problems.

@WiCapitalco 3 ай бұрын

based on who got into this bail out I'm assuming their companies rely on this bank being open.

@lawrencesullivan3307 3 ай бұрын

the days of working out of big commercial offices are over as the new work environment or many is at home

@JohnDoe-rk1ck 3 ай бұрын

No way he’s not involved in manipulating this scenario.

@poopsmith6853 3 ай бұрын

It was very blatant manipulation. The stock was completely halted for 2 hours and magical gained over 3 dollars "on this news".

@angrybrit129 3 ай бұрын

This guy is behind bringing it down then buying at pennies

@chiquita683 3 ай бұрын

Everyone leaves government a billionaire

@NotBen101 3 ай бұрын

The material weakness in internal controls means that a misstatement cannot be prevented or detected, it does not mean that the financials are misstated.

@johnsanford3 3 ай бұрын

Ill wait until the commercial leases expire so I can buy it cheaper

@peterbedford2610 3 ай бұрын

Vultures are circling right now. 50% off peak prices is just about the number needed for CRE in troubled markets.

@davidmoeller17 3 ай бұрын

probably has govt or FED guarantees to bail it out, just like 08-09 period, no risk

@weirdshibainu 3 ай бұрын

You bet they have guarantees. Simple math-----do you buy at these levels?

@davidmoeller17 3 ай бұрын

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

@poopsmith6853 3 ай бұрын

@@weirdshibainunope. They can't afford to have a bailout under this admin.

@weirdshibainu 3 ай бұрын

@@poopsmith6853Of course they can

@davidisaackson2764 3 ай бұрын

$6 book value at current levels stock is cheap and a strong buy with 120% potential upside

@mehmet24a 3 ай бұрын

it will take a lot of time for stock price to match the tangible book value.

@garatobra2504 3 ай бұрын

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

@JjakeTradesFx 2 ай бұрын

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

@rickhayes-oh2zm 3 ай бұрын

the new fed chairman Steven Mnuchin.

@navi2102 3 ай бұрын

"Mr. Mnuchin’s fund raised $500 million each from Kuwait, the United Arab Emirates and Qatar, as well as $1 billion from Saudi Arabia"

@Stoneface_ 3 ай бұрын

So?

@mehmet24a 3 ай бұрын

saudis were also a big shareholder of signature bank previously. they seem to invest a lot in regional banks in the USA.

@thejeffinvade 3 ай бұрын

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.

@Brandon-ml2zw 3 ай бұрын

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.

@shahek88 3 ай бұрын

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...

@durkdiggler4346 3 ай бұрын

Jesus

@durkdiggler4346 3 ай бұрын

@@shahek88 they have the most exposure he's saying, corporate office space is falling.

@Craftplayer456 3 ай бұрын

#SHORTNYCB

@imawesome1822 3 ай бұрын

Homie is going to acquire it . Then Gut it. Then sell the rest off ! Greed is Good “ Gordon Gekko

@vitolazlo5767 3 ай бұрын

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.

@Alpharizzchad 3 ай бұрын

The old boss of Bank of the West. Same story new suit

@KK-pm7ud 3 ай бұрын

What do you mean?

@poopsmith6853 3 ай бұрын

@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%.

@ssuwandi3240 3 ай бұрын

Someone just did the buy back deal..half sale

@vitolazlo5767 3 ай бұрын

After the initial plunge the insiders tried to buy a few shares to show bravado.@@poopsmith6853

@Martin-fk5og 3 ай бұрын

I would not trust any thing this guy would say.

@illegalsmirf 3 ай бұрын

Ah yes, Stevie Munchkin - one of Doobie Jay Turd's swamp monsters!

@manojm2864 3 ай бұрын

😂😂😂

@blockvibez284 3 ай бұрын

Whatever man

@mehmet24a 3 ай бұрын

he bought the assets so cheap. unbelievable. former ceo did a bad job by not protecting the existing shareholder's rights.

@ToneGuruLA 3 ай бұрын

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

@cfeezy4903 3 ай бұрын

PRINT THE MONEEEYYYY !!

@JjakeTradesFx 2 ай бұрын

sounds like he wants your money to help with liquidity, its a scam.

@nicholasdsteil 3 ай бұрын

Buy your puts. Fail baby fail!!

@evanetter 3 ай бұрын

lol

@Brandon-ml2zw 3 ай бұрын

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!

@kennygsmooth83 3 ай бұрын

@@Brandon-ml2zw Sad but true. It's about who you know and who knows you.