Yellen rules out bailout for Silicon Valley Bank March 12...Oops!

https://www.youtube.com/watch?v=vSZcPvp7NVU

Good thing we didn't bail them out.

Hey, wait a minute. 🙄

They must be too systemically woke to fail. Privatize the gains, socialize the losses as usual.

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LordShadowfire · 46-50, M

So, is this a good time to talk about how Donald Trump basically set this up as a time bomb to go off under Biden's watch?

irishmolly72 · 56-60, F

@LordShadowfire Sure, if you want to lie.

Where were Biden's regulators? The Dodd Frank act added hundreds of thousands of pages of regulations, and an army of hundreds of regulators. The Fed enacts "stress tests" in case regular regulation fails. How can this massive architecture fail to spot basic duration mismatch and a massive run-prone deposit base? It's not hard to fix, either. Banks can quickly enter swap contracts to cheaply alter their exposure to interest rate risk without selling the whole asset portfolio.

SVB was a tiny bank in 2020. It was Biden's 2021 economy that blew the bubble that made the SVB bank the catastrophy that is is. Look it up. I don't feel like doing it for you.

Roundandroundwego · 61-69

@LordShadowfire capitalism is a US decision enforced to the last American by both parties.

LordShadowfire · 46-50, M

@irishmolly72 Oh, right, the Dodd-Frank act. Seems to me Donald Trump repealed that.

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LordShadowfire · 46-50, M

@irishmolly72 Don't. Don't do that. That's like the stereotypical right-winger go to move. Stalin, Mao, and Pol Pot, who had about as much to do with actual communism as Captain Kangaroo has to piloting a boat.

irishmolly72 · 56-60, F

@LordShadowfire Retracted. :)