@moxfyre@GrkStav@paulkrugman The debt limit was a short term gimmick during WW I to let the Treasury issue war bonds without Congress having to pass laws for each issue. Nobody anticipated what it would turn into a century later.
@PlainSimpleBen I think the 90/90 rule applies here. The first 90% of the work takes the first 90% of the time. Then the other 90% of the work takes the next 90% of the time. Repeat until done.
@felixsalmon I once asked the local community bank's manager why their deposit rates were so low: they pay what they need to. Until they see significant deposits going out the door, why pay more?
I have an online account that pays 4.25% but sloshing the money back and forth is a pain.
@EmilyRPeck @MarkVinPaul You don't have to do that -- each quarter you annualize your income to date and pay estimates based on that. If your income goes up late in the year, that's OK, no penalty if you attach a form 2210 showing that's what happened. BTDT.
@felixsalmon It was pretty stupid for the VC bros to blow up their bank and then whine about what happened. If they're so brilliant, how about a smart contract to keep everyone's money there with only slow outflows?
@chrisbodger@benedictevans@a16z@pmarca GPT3 is very good at writing biographies. But it's not very good at writing factual biographies. It wrote one for me that got everything wrong except where I was born.
@MattZeitlin But SVB shouldn't cost the FDIC anything. They surely have plenty of assets to cover the 3% of insured deposits, and losses on the rest are not the FDIC's problem.
@chrmanning REAL linguists use complicated models like we did in the 1950s and 1960s. The resentment at being bypassed by big data oozes from every paragraph. (ChatGPT is indeed a very sophisticated parlor trick, but this isn't why.)
@paulkrugman Banks gave risk management over to machines a long time ago. I switched banks when one said they could not raise my bill pay limit above $1000, and nobody in the bank could fix it because it was run by their outsourced back end provider.