I thought Critical Race Theory caused the crash.

Deregulation had nothing to do with it. SVB made bets that the interest rates would remain low. When interest rates were being raise by the Feds, they didn't have a risk manager to adjust their investments.

And who is going to pay for the bailout? Regular people through ever increasing bank fees.

Inflation happened under Biden. Higher interest rates happened under Biden. This had nothing to do with Trump.

My mom would say, drunks and children tell the truth. I guess that she would have known, being that she had lived in Holland during the German occupation.

My credit union released a memo to the effect of "unlike some for profit banks that don't really care about you, we give a flying f=÷&%." I appreciated the dig.

And of course nothing to do with the deregulation of banks under Trump. Or the US obsession with pretending that Classical Economic Theory works. Nah, it has to be something that actually increases bank profitability (work from home) but which the power obsessed managers dislike because it puts employees out of their sight.

True, but that's kind of a low bar...

The criminal always returns to the scene of the crime.

well it make more sense then blaming wokeness at least

They're throwing out every excuse except taking responsibility.

It's easier that way!

I knew we were at an all time low for reading comp scores in america. But this is ridiculous. Read the article, and makes sure you understand each sentence before you move on to the next.

>SVB failed because of investment decisions that would have had to have been helmed by the absolute highest level of management.

They included executives and management being spread out as one of the problems...

Sometimes criminals can be most brazen.

no no no , they didn't work from hoooooooooome! They worked in the office even when covid shut everything down :(

SVB didn't invest in crypto or in anything particularly risky...

Your mistake, hope your money is OK but it's probably a write-off.

What most don’t seem to understand is that SVB had plenty of assets. They just didn’t have enough cash on hand and foolishly pre-announced a cash raise which caused the investor to pull out and then a run on the bank.

The reason the US Government is willing to guarantee all depositors is because they know they can find a buyer.

During the 2008 crisis no credit unions ran into any problems either because they tend to be pretty conservative.

Buddy, just take the L and move on

Why are redditors like this?

And how that shit knows no political party better than another. It's becoming alarming popular on all sides... I mean, I guess it always has been, but now it's much harder to ignore.

Make bad bond investments. Blame wfh. Classic

SVB didn't invest in crypto, they kept their customer deposits in bonds. The problem was that as interest rates increased their old bonds became worth less. If it hadn't been for the bank run they could have held the bonds to maturity and then they wouldn't have lost any money.

Also a bank will never tell you if they're in danger because they don't want to incite a bank run.

I thought it was the woke left? I just can’t keep up anymore

Kathleen Fay Plantinga is a light in this world but her son is a douchebag piece of shit.

I agree, but the long term effects of something like this could have chilling effects. Who gets to determine of someone is "rude?" It's very subjective. Can you get kicked out for not saying sir or ma'am, talking to loud, what if someone thinks someone is being sarcastic. This would be an easy way to silence any differing views from the public. Hopefully we chill out on our own and can act civilly as a society without the government telling us to.

Great job failing to comprehend the difference between someone saying there might be consequences in the future, and actually having issues filling the positions.