TBH @CNN has always been worse than @FoxNews. It gave the orange baboon 24/7 coverage in 2016. TFG was elected POTUS not because of #FoxNews but becases of #CNN
Thanks to Bangladesh's draconian Digital Security Act, the world now knows a) Bangladeshis are struggling with food prices & b) their government is struggling with free speech 🇧🇩
Arresting journalists is a fool-proof method for ensuring wider coverage
https://t.co/yLCibvDIb8
Banks are supposed to be risk averse boring places with boring jobs and strictly regulated. Instead they have become risk junkies because a less regulated banking system favors the wealthy…
Technowatermelon (TWM) David DuJour:
As I understand it: "Let's give real estate speculators more FREE money so they can inflate prices & sustain their leveraged bubble that prices out newcomers."
In other words: "Let have runaway inflation to save MY business."
The global derivatives market is a $2+ QUADRILLION (2,000+ TRILLION) ticking time-bomb. When banks fail, derivatives won't just unwind in an orderly fashion. Few people understand this.
These are some of the top U.S. banks ranked by derivatives exposure (double-digit TRILLIONs).
How bad is the banking crisis?
This is the Omaha airport this morning.
Each one is the private jet of a bank CEO looking to get bought out by Warren Buffett.
Honestly, if you are a tech investor (i.e. VC type) without much knowledge about the bond market and the banking system you will tweet out nonsense at the risk of your reputation…
Exhibit 1:
FINANCIAL IGNORANCE DUJOUR
"IF banks were forced to liquidate" is an equivalent conditional to "IF insurance companies had ALL clients having accidents at the same time".
Actually "BS Paul" @paulg is saying banks are ROBUST since they wld remain solvent under Xtremes (9-23%).
Balaji is not just stupid but fundamentally in bad faith. They bought LONG maturity treasuries; it's the duration not the treasury part.
I OWNED (and still OWN) treasuries but did well. Why? Because short duration.
@Balajis is dishonest.
As described by others many times, everywhere else (i.e nyc) AHs don’t pretend to be anything else but AHs. In SV AHs pretends to be nice… scratch that - they think they are nice!
VCs now realizing Silicon Valley has a public image problem and suggesting we increase PR efforts and participation in politics to make clear that Silicon Valley problems are every American's problems…
A better (and easier) starting point might simply be investing in more underrepresented founders that live outside of SV and NYC. At the very least, we won't have to all retweet the same female founder in Ohio next time.
A BIT OF FINANCE
In the 80s and 90s, on average, one bank failed (and closed) every other day.
Since 2000, we have had an average of 1 bank failing & closing every week.
So ignore those technologists who know nothing of financial history.
Make sure you ignore this psychotic ignoramus. He has the financial sophistication of a goldfish swimming in Vodka-spiked water.
FDIC makes 100% of protected deposits available on Mondays, Tuesdays, Wed...
"Most" (in accounts) are well under 250K.
Silicon Valley has no idea how the banking system works. No one is talking about bank runs other than the VCs. Very few care about their port cos. So guess why? #SBV