Post ATYO5ABAd5aE2oVMPo by KevinMarks@xoxo.zone
 (DIR) More posts by KevinMarks@xoxo.zone
 (DIR) Post #ATYEtiOCiBnl5D4F1s by mmasnick@mastodon.social
       2023-03-12T18:55:07Z
       
       0 likes, 0 repeats
       
       The failure of SVB seems to be the perfect canvas on which everyone can place the blame on their favorite target.
       
 (DIR) Post #ATYEtj6s27WxJjxueO by brewsterkahle@mastodon.archive.org
       2023-03-12T21:00:05Z
       
       1 likes, 1 repeats
       
       @mmasnick SVB failure is so scary to me because all the Actors on the Stage were doing their normal roles, and then boom!Startups being helped and helping their local bank.Banker's without fraud, investing in the most conservative thing: TBills.Easy money transfers through wires.Crypto company doing right by massive "money in the bank"VC's being, well, VC types.Bank hits a speed bump.  then Boom.Complete uncertainty about everything.Can happen to you?  It might.Scary.
       
 (DIR) Post #ATYFj1N7tW2Aj21nU0 by arvrrob@twit.social
       2023-03-12T21:05:38Z
       
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       @brewsterkahle @mmasnick  Duncan Black sums the SVB colapse very well here. https://www.eschatonblog.com/2023/03/nice-economy-there.html
       
 (DIR) Post #ATYFj2wy1kIVcTnvzE by arvrrob@twit.social
       2023-03-12T21:07:28Z
       
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       @brewsterkahle @mmasnick And Noah Smith in greater detail here.https://noahpinion.substack.com/p/why-was-there-a-run-on-silicon-valley?utm_source=post-email-title&publication_id=35345&post_id=107667545&isFreemail=false&utm_medium=email
       
 (DIR) Post #ATYO5ABAd5aE2oVMPo by KevinMarks@xoxo.zone
       2023-03-12T22:42:36Z
       
       0 likes, 0 repeats
       
       @brewsterkahle @mmasnick Unlike the cryptocurrency bollocks this was an actual bank, so it can be unwound cleanly https://home.treasury.gov/news/press-releases/jy1337
       
 (DIR) Post #ATYZA3iJC7Xaw4Xf7o by amart@hachyderm.io
       2023-03-13T00:47:02Z
       
       0 likes, 0 repeats
       
       @brewsterkahle @mmasnick If one looks at the most recent Call Report for SVB filed with the FFIEC here ‪ https://cdr.ffiec.gov/public/ManageFacsimiles.aspx - in particular page #63 (Sched RC-R Part II). You can see huge exposure in “Held-to-maturity securities”Compared to other banks their securities-to-cash ratio is not normal. It seems SVB was trying to pick up a few nickels betting that interest rates wouldn’t rise. Goldman Sachs ratio is less than 3%; SVB is over 750%
       
 (DIR) Post #ATZ3qWo0Q2hrwxNEUC by nemobis@mamot.fr
       2023-03-13T06:30:52Z
       
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       @brewsterkahle "Bankers without fraud": that's debatable. If your bank is a giant single-sided bet on the interest rate curve, perhaps you shouldn't advertise it as safe for uninsured deposits.https://nitter.net/paulkrugman/status/1634911360227201025#m