Di Wang

[Di Wang @linenland]

@krassenstein @elonmusk @mattyglesias Twitter has to stay within legal boundaries. If people in Turkey don’t like censorship, they need to work together to change the law. Twitter can’t do that for them.

[Di Wang @linenland]

@elonmusk Within 6 weeks, a lot can happen.

[Di Wang @linenland]

The below was written on March 15. But the Fed continued to hike rates, and is adding more banks to the casualty list.

"Why the Fed is responsible for the banking crisis, and why it will have to pivot" https://t.co/tcxl297WkQ

[Di Wang @linenland]

@NickTimiraos "And now the end is near"...😂

[Di Wang @linenland]

@josephwang But you only need a relatively small deposit dislocation to cause bank failures in a high rate environment - and failures are contagious. That's what we've seen since early March.

It's time for the Fed to focus on risk management.

[Di Wang @linenland]

FT: First Republic rescue fails to arrest slide in US regional bank shares https://t.co/T4MlnUDD67

[Di Wang @linenland]

Reuters: Tesla raises prices in US, China, Japan and Canada https://t.co/f0bkPIxuWz

[Di Wang @linenland]

Also consider this - even in mid 2021, the Fed refused to hike rates and insisted that inflation was "transitory".

[Di Wang @linenland]

Despite all the particularities of Silicon Valley Bank, Signature Bank, and First Republic Bank, the root cause of this round of bank failures is the ZIRP and the unprecedented QE between 2020 and 2021.

[Di Wang @linenland]

Should the banks be blamed for buying those securities and originating those loans when rates were low?
Consider this - when the Fed created the ultra low rate environment, and clients were asking for a loan, should banks turn every client away?