Oh, the irony. "Getting cash out now" is what CAUSES a run on the banks in the first place.
Herpa Derp.
SVB's collapse was predictable, and the result of an completely inappropriate mix of maturity dates on its assets. Frankly the incompetence shown by the SVB's leadership and CEO is staggering especially for someone who was on the board of the San Francisco Fed.
SVB was run by woke idiots, for woke idiots. They were a collection of diversity-hire buffoons, and the results were not only predictable but inevitable. Extrapolating from SVB to all the other financial institutions is simply not accurate.
If banks were merely a box in which people store their assets, there would be no issue in taking back your property from the box, just like if you check your coat at a restaurant or club, you wouldn't expect the restaurant/club to go bankrupt if everyone wanted their own property back at the end of the evening.
Oh, the irony. "Getting cash out now" is what CAUSES a run on the banks in the first place.
Herpa Derp.
SVB was run by woke idiots, for woke idiots. They were a collection of diversity-hire buffoons, and the results were not only predictable but inevitable. Extrapolating from SVB to all the other financial institutions is simply not accurate.
Ok, keep yours in. To each his own!
Getting YOUR cash out certainly isn't. What a stupid comment.
If you're not a billionaire, you don't matter to banks.
I don't doubt what you're saying. I think the point is more about domino effects.
If banks were merely a box in which people store their assets, there would be no issue in taking back your property from the box, just like if you check your coat at a restaurant or club, you wouldn't expect the restaurant/club to go bankrupt if everyone wanted their own property back at the end of the evening.