Steven Kelly

Senior Advisor, @FDICgov. Former director at the Yale Program on Financial Stability. Still an academic at parties. (Personal views only.)

[Steven Kelly @StevenKelly49]

New paper: "Rushing to Judgement and the Banking Crisis of 2023"

At the two-year anniversary of the crisis, @thejonrose and I present 7 facts that are overlooked in the standard account of the crisis: https://t.co/hRNEOsmzFd

[Steven Kelly @StevenKelly49]

Separate question: do any of the Nvidia guarantees have ties to its stock price, credit rating, etc? i.e., does anyone have to stump up collateral or can counterparties back out of the deals?

[Joe Weisenthal @TheStalwart]

When it comes to AI’s circular financing. How much of $NVDA’s backing of the space is about juicing and sustaining demand, vs. a logical desire to ensure intense competition at every other part of the stack (cloud, model, etc) to prevent the emergence of a monopsony player.

[Steven Kelly @StevenKelly49]

@talmonsmith @RobinWigg @FTAlphaville @thekrazykobra is a must-read. Consistently putting out gold in FTAV

[Steven Kelly @StevenKelly49]

@JonMcKernan Congrats Jonathan!

[Steven Kelly @StevenKelly49]

They profiled him in 2022 too: https://t.co/dI5fle6y5J

[Steven Kelly @StevenKelly49]

The Wall Street Journal loves @PUSHA_T (and so do I)

[The Wall Street Journal @WSJ]

Pusha T keeps a disciplined routine: He’s up at 5 a.m. and often spends 12 hours a day in the recording studio. But one of the keys to his recent success, he said, is feeling more relaxed at this stage of his life. 🔗 https://t.co/oMheLuCIeY

[Steven Kelly @StevenKelly49]

@robblackwellAB Rob, you ask too much of your followers.

[Steven Kelly @StevenKelly49]

Still time to register for in-person or virtual for free. I’ll be talking “Institutions”—whatever that will mean—with JPM’s Al Moffit and UMich’s Jeff Zhang.

Myself notwithstanding, whole conference lineup looks great: https://t.co/fhUmJSrt9f

[ClevelandFedResearch @ClevFedResearch]

The next Financial Stability Conference, hosted by the Cleveland Fed and @YPFSatYale, will be held in Cleveland and virtually on Nov. 19–20. The event features panel sessions by policymakers, academics and industry professionals. Register: https://t.co/eVTMO26xe2

[Steven Kelly @StevenKelly49]

The Great Bank Re-Tranche

[Finance News @ftfinancenews]

How a trillion-dollar hedge fund borrowing spree became Wall Street’s cash cow https://t.co/C1kt3QMpAr

[Steven Kelly @StevenKelly49]

“Any radical transformation of our economy is generally intertwined with a bubble,” Griffin said. “These bubbles, if we want to use that word, often coincide with these giant technological transformations.”

[Bloomberg @business]

Billionaire Ken Griffin said investors are “almost certainly” in the midst of an artificial intelligence bubble https://t.co/Dwi06Renwk

[Steven Kelly @StevenKelly49]

@jacobherbstman Bingo: https://t.co/pVkfy5dSAk

If it’s got cash flows, it’s got a securitization market

[Steven Kelly @StevenKelly49]

@pascalsroom PIMCO if rates go to 6:

[Steven Kelly @StevenKelly49]

@robblackwellAB @BrendanPedersen Palpatine nationalizes it later in the Clone Wars. So many questions. Not clear they even have fractional reserve banking

[Steven Kelly @StevenKelly49]

@BrendanPedersen @robblackwellAB As long as he knows what he’s signing up for…

[Steven Kelly @StevenKelly49]

@rbrtrmstrng

[Steven Kelly @StevenKelly49]

FDIC Chair Hill on agentic bank transfers: Similar tools exist today and go unused. "There are various services [customers are] getting from the bank—there is a broader relationship—and so there's a lot that goes into the decision of where to put funds."

https://t.co/QlVJQfJv8V

[Steven Kelly @StevenKelly49]

Me when @Birdyword disses Succession

[Mike Bird @Birdyword]

Succession wildly too high, Band of Brothers way too low. Didn't know Happy Valley had broken into the US. A decade ago I think received opinion would have put House in the top 20 and its current spot is much more sensible.

[Steven Kelly @StevenKelly49]

@TheStalwart Code can’t play in a sandbox either

[Jonathan Rose @thejonrose]

A project of many years with Ken Snowden. The book is about how our system of housing finance developed since the late 1800s. Thanks, Steve.

[Steven Kelly @StevenKelly49]

‘Javier Bardem will star in The Spread as a billionaire seeking “the power to shift the center of economic gravity to Miami — and decide how long the party lasts.”’

[The Hollywood Reporter @THR]

HBO Bags High Finance Drama 'The Spread' Starring Javier Bardem https://t.co/YxT0J8m7OB