There’s something very ugly happening right now: VCs & startup execs who stand to lose their deposits at SVB are going *out of their way* to push a narrative that there’ll be a bank run on Monday if SVB depositors aren’t bailed out by the government. They’re yelling fire in the proverbial theater, hoping that everyone runs and knocks down a candle on their way out - actually starting a fire that may not otherwise have existed. They’re skipping the fact that SVB’s situation is unique: a staggering *89%* of its deposits were uninsured (way higher than normal banks). And they didn’t hedge interest rate risk which is a cardinal sin given the portfolio they held. Their real “hedge” was to spend $$ to become popular in the right influential circles of their own depositors, pledging $5 billion in 2022 to “sustainable finance and carbon neutral operations to support a healthier planet.” Maybe that hedge will pay off for their depositors if the government bails them out, but that should rightly trigger an “Occupy Silicon Valley” of historic proportions.
@mtgreenee Man that sucks. I was attacked and screamed at in 2018 by an insane woman named Marjorie Taylor Greene. She had no respect for the privacy of me as an 18 year old school shooting survivor or my staff.
She was self righteous, insane, and completely out of control.
Economist Thomas Sowell was once a Marxist, but now he advocates for free markets.
"What was your wake-up to what was wrong with [Marxism]?" @RubinReport asked him.
"Facts," Sowell replies.
Here’s why I admire Sowell:
We will *lead* this race by far in offering clear solutions:
- End affirmative action
- Abandon climate religion
- Shut down government agencies, starting with Dept of Education
- 8-year term limits for bureaucrats
- Make political expression a civil right
- Much more to come
You suggested the Big Ten looked worse for playing football through COVID then the fact two of their schools employed and covered up the actions of Jerry Sandusky and Larry Nassar.
Go away.
BREAKING: The House of Representatives has voted to pass a new set of rules that will severely weaken the ability of the Office of Congressional Ethics to investigate members of Congress for potential wrongdoing, including stock trading.
People are more outraged by Elon Musk spending 44 billion dollars of his money. Then they are the government spending trillions of dollars of their own money.
@neiltyson@TopGunMovie Because they would of been spotted by enemy 5th Gen fighters with superior radar capabilities and shot out of the sky BVR (beyond visual range) they weren’t only trying to avoid the S 400 missile systems but also the Su 57s. Read a book