Ken Peters

[Ken Peters @KenPeters123]

@ananavarro Who gives a shit what color or gender the person is? Unless you’re a racist right Ana?

[Bill Ackman @BillAckman]

The gov’t has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowing @SVB_Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Absent @jpmorgan @citi or @BankofAmerica acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the gov’t guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured deposits from all but the ‘systemically important banks’ (SIBs). These funds will be transferred to the SIBs, US Treasury (UST) money market funds and short-term UST. There is already pressure to transfer cash to short-term UST and UST money market accounts due to the substantially higher yields available on risk-free UST vs. bank deposits. These withdrawals will drain liquidity from community, regional and other banks and begin the destruction of these important institutions. The increased demand for short-term UST will drive short rates lower complicating the @federalreserve’s efforts to raise rates to slow the economy. Already thousands of the fastest growing, most innovative venture-backed companies in the U.S. will begin to fail to make payroll next week. Had the gov’t stepped in on Friday to guarantee SVB’s deposits (in exchange for penny warrants which would have wiped out the substantial majority of its equity value) this could have been avoided and SVB’s 40-year franchise value could have been preserved and transferred to a new owner in exchange for an equity injection. We would have been open to participating. This approach would have minimized the risk of any gov’t losses, and created the potential for substantial profits from the rescue. Instead, I think it is now unlikely any buyer will emerge to acquire the failed bank. The gov’t’s approach has guaranteed that more risk will be concentrated in the SIBs at the expense of other banks, which itself creates more systemic risk. For those who make the case that depositors be damned as it would create moral hazard to save them, consider the feasibility of a world where each depositor must do their own credit assessment of the bank they choose to bank with. I am a pretty sophisticated financial analyst and I find most banks to be a black box despite the 1,000s of pages of @SECGov filings available on each bank. SVB’s senior management made a basic mistake. They invested short-term deposits in longer-term, fixed-rate assets. Thereafter short-term rates went up and a bank run ensued. Senior management screwed up and they should lose their jobs. The @FDICgov and OCC also screwed up. It is their job to monitor our banking system for risk and SVB should have been high on their watch list with more than $200B of assets and $170B of deposits from business borrowers in effectively the same industry. The FDIC’s and OCC’s failure to do their jobs should not be allowed to cause the destruction of 1,000s of our nation’s highest potential and highest growth businesses (and the resulting losses of 10s of 1,000s of jobs for some of our most talented younger generation) while also permanently impairing our community and regional banks’ access to low-cost deposits. This administration is particularly opposed to concentrations of power. Ironically, its approach to SVB’s failure guarantees duopolistic banking risk concentration in a handful of SIBs. My back-of-the envelope review of SVB’s balance sheet suggests that even in a liquidation, depositors should eventually get back about 98% of their deposits, but eventually is too long when you have payroll to meet next week. So even without assigning any franchise value to SVB, the cost of a gov’t guarantee of SVB deposits would be minimal. On the other hand, the unintended consequences of the gov’t’s failure to guarantee SVB deposits are vast and profound and need to be considered and addressed before Monday. Otherwise, watch out below.

[Ken Peters @KenPeters123]

@AlexEpstein @jimmyfailla @CoriBush How did this person get elected in the first place? She an obvious racist

[Ken Peters @KenPeters123]

@ericareport You just said this for clickbait right? I mean you are either too young or to stupid to write what you did

[Ken Peters @KenPeters123]

@JeffYoungerTX This animal should be in jail

[Ken Peters @KenPeters123]

@TRhodes96 @adamcarolla I think most of them are dumb to begin with and then get indoctrinated. And if you don’t tow the line you get canceled for life

[Ken Peters @KenPeters123]

@SelinaJ13294330 @AP Please explain what white supremacy curriculum and mission are being taught? Do you have evidence of this?

[Ken Peters @KenPeters123]

@AP @MikeSchneiderAP Please stop calling this bill the “don’t say gay bill”. It was called that by the far left to mislead the public. The bill is intended to keep our innocent children from being taught sex in school. Stop trying to distroy our kids libs

[Ken Peters @KenPeters123]

@MikeSchneiderAP All the Biden administration cares about is the color of your skin or your sexual preference. They have done so much damage and divided a country like never before. MLK is rolling i his grave

[Ken Peters @KenPeters123]

@its_the_Dr Suspicious to say the least

[Ken Peters @KenPeters123]

@CollinRugg Race baiters

[Ken Peters @KenPeters123]

@James_Wayne10 @JeffYoungerTX Where are these “daily videos” of whites and police being the “aggressors”. They don’t exist. But these videos do exist and something needs to be done

[Ken Peters @KenPeters123]

@nikanddaniel @Culture_Crit Beautiful piece of architecture and a testimony to the craftsman who built it.

[Ken Peters @KenPeters123]

@phyphytheory @JeffYoungerTX I’m sure there are many many more that aren’t posted. Even if there weren’t this is a disturbing trend. My take is that many blacks are without fathers at home to provide discipline love and structure they need

[Ken Peters @KenPeters123]

@phyphytheory @JeffYoungerTX Ah nope just the reality that most violent crime is committed by young black males.

[Ken Peters @KenPeters123]

@atensnut Attention all woke dumb dumbs out there try to recognize humor when it slaps you in the face

[Ken Peters @KenPeters123]

@greg_price11 MLK dreamt of a day when we would be judged by the content of our character not by the color of our skin. What happened?

[Ken Peters @KenPeters123]

@chelseahandler Spoken like a woman trying to justify her abortions??

[Ken Peters @KenPeters123]

@bennyjohnson “Controlled Burn?” Nicely done “EPA”

[Ken Peters @KenPeters123]

@Raisasheikh54 @elonmusk @VincentCrypt46 Fact check false and stay in Canada