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yes, and i wonder if they were preparing for the SVB thing in advance, too. The run that everyone is blaming happened in about 24 hr window and ended up in them
by twelve40 4y ago
yes, and i wonder if they were preparing for the SVB thing in advance, too. The run that everyone is blaming happened in about 24 hr window and ended up in them taking over, is it even possible to prepare for a bank takeover in such a short time?
- Godel_unicode 4y agoInstitutions have long memories, especially government ones. I suspect there are a decent number of people who still work there and cut their teeth during the financial crisis. It would also be mind blowing to me for someone whose job is to handle bank failures to not have a playbook for them. I know that FEMA has a truly impressive library of disaster playbooks in their analogous role.
- upon_drumhead 4y agoThere was an episode of "The G Word" on Netflix that followed a FDIC bank takeover game-day. They're always preparing for the worst and know when they're called, if they handle things smoothly, it protects the entire system. I have huge respect for the FDIC. I feel they're the perfect example of a government agency that works.