2023-03-13
Horseshit
-
The truthiness of false balancing leftwing bias in ChatGPT
ChatGPT adhering to science becomes politically biased this way. At least in this instance, reality does have a leftwing bias, and we should be wary of ChatGPT adhering to false balancing because of snowflakian feels of conservatives.
-
Ask HN: Do you look down on people who don't use MacBooks? | Hacker News
-
Audiophile forum debating which versions of memcpy had the highest sound quality | Hacker News
Rank Propaganda / Thought Policing / World Disordering
-
Taibbi's documenting how our government targets Americans on social media so ... Foreign Governments Are Still Targeting Americans on Social Media, NSA Says
-
A Democrat Senator essentially asked whether there was a program in place to censor information on social media that could lead to a run on the banks.
Pestilence / Pox / COVID / VaxCult
Edumacationalizing / Acedemia Nuts
Media / ShowBiz / Advertising
TechSuck
Economicon / Business / Finance
-
Fed and FDIC discussing backstop to make SVB depositors whole, stem contagion
-
HN is literally heavily invested in this situation: FDIC, Fed, and Treasury are considering a plan to backstop all SVB depositors | Hacker News
-
Silicon Valley Bank gave company-wide bonuses hours before it collapsed: report
-
Bank Run in Los Angeles at a First Republic Bank Branch | Hacker News
-
"Never Seen In Over 40 Years" - SVB Collapse Sparks Bank Runs As People Wait In Lines
-
Preventing Panic in the Banking Sector
Anyway, it’s unlikely that a panic would focus on big banks, which have an implicit government guarantee after 2008. And it’s unlikely it’ll focus on small banks, most of whose deposits are FDIC insured. But mid-size regional banks, especially in California, could definitely be vulnerable. The stocks of First Republic Bank, Signature Bank, Western Alliance Bank, and PacWest took a big dive this week, even as big bank stocks took only a small dip
In fact, it appears the deposit guarantee fund wouldn’t just be for SVB. It would be able to guarantee uninsured deposits at any other bank that fails or even just looks shaky as a result of this episode. In other words, every bank customer would know that what they thought were uninsured bank deposits are now insured bank deposits. Ta-da!! And with zero danger of losing any deposits, customers won’t bother withdrawing their deposits from any bank, and the panic will, presumably, end. A lot of people will complain about this, calling it a “bailout” and drawing parallels to 2008-9. But a deposit guarantee is not a bailout.
-
FDIC auction for SVB said to be underway, final bids due Sunday | Hacker News
-
Federal Regulators Will Ensure All Silicon Valley Bank Depositors Are Paid
-
Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC
-
Federal Reserve announces backstop of deposits, all money 100% available Monday
-
The Bank of London bids for Silicon Valley Bank UK arm as government seeks buyer
-
Regulators seize Signature Bank in third-largest US bank failure
-
SVB collapse highlights $620B hole lurking in banks’ balance sheets
-
FDIC Establishes Signature Bridge Bank, N.A., As Successor to Signature Bank
-
The chaos agent behind the collapse of Silicon Valley Bank is – – – Slack?
-
US Says All SVB Deposits Safe, Creates New Backstop for Banks
-
Treasury Secretary Janet Yellen on “Face the Nation,” March 12, 2023
-
US regulators bail out SVB customers, who can access all their money Monday
-
We were required by covenant to bank exclusively with SVB as part of the venture debt line we had with them. This is a condition that is (was!) very standard and non-negotiable. This is part of what I mean about the real talk: that venture debt line was clutch for us -- and I would wager than any hard tech company that you revere has used venture debt at one time or another.
-
Silicon Valley Bank collapse hits startups as far away as China
-
First Republic drops 60% despite government’s backstop of SVB
-
Experts flag moral hazard risk as U.S. intervenes in SVB crisis
-
HSBC Pays £1 For Silicon Valley Bank's UK Unit In Rescue Deal
-
SVB signed exclusive deals with some clients, leaving them unable to diversify
-
The End of Silicon Valley (Bank)
I’m actually not sure when I first heard about Silicon Valley Bank’s technical insolvency, but it was on the order of months ago. I say this not to brag — I never wrote about it — but rather to note that I was under the impression it was fairly common knowledge; after all, business was proceeding as usual, and again, Silicon Valley Bank would be fine, albeit less profitable, as its hold-to-maturity bonds gradually matured.
The federal government’s action is, in my estimation, the right thing to do for this moment in time. There will, though, be long-term consequences for fundamentally changing the nature of a bank: remember, depositors are a bank’s creditors, who are compensated for lending money to the bank; if there is no risk in lending that money, why should depositors make anything? Banks, meanwhile, are now motivated to pursue even riskier strategies, knowing that depositors will be safe; the answer will almost certainly be far more stringent regulation on small banks, of the sort imposed on the big four after 2008. That, in turn, will mean tighter credit and more fees for consumers, in addition to what will be a big increase in FDIC insurance premiums. And, while taxpayers may not be directly infusing money into failing banks, taking on all of those low-interest rate securities is real opportunity cost.
-
Can the SVB crisis be solved in the longer run? - Marginal REVOLUTION
-
First Republic tumbles as fresh financing fails to soothe deposit outflow fears
-
Dollar drops as Fed rate hike expectations trimmed on SVB collapse
-
First Republic and other US regional banks tumble over fears of deposit flight