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obviously nobody believed those numbers. i had 50% of my 401K in a AAA bond index fund and it lost 15% in 6 months. SVBs assets aren't even close to AAA. They a
by metalspot 4y ago
obviously nobody believed those numbers. i had 50% of my 401K in a AAA bond index fund and it lost 15% in 6 months. SVBs assets aren't even close to AAA. They are loaning money to startups, creating deposits out of those loans, and then using those deposits as collateral to issue 10X more loans. That is all perfectly cool and legal, but when all of those startups run out of runway at the same time the party stops.