4 ms·
Gotta love the monday morning quarterbacking. "Get rid of the thing that attracts all your customers, surely then there will never be a bank run."
by dahfizz 4y ago
Gotta love the monday morning quarterbacking. "Get rid of the thing that attracts all your customers, surely then there will never be a bank run."
- dahdum 4y agoI suppose you’re right, there’s nothing they could have done differently. They were forced to offer just about the highest, unsustainable, yield rates and otherwise attract and hold unmanageable amounts of capital. No other choice! Inflation was unforeseeable. Despite 40 years of startup banking experience and $3-10M yearly exec comps, how could they be expected to consider high inflation and a tech downturn happening at the same time? We are asking just too much of those poor execs, risk management must have been someone else’s responsibility. Biden must be to blame.