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This is exactly right. This has nothing to do with the startups using the bank
by awill 4y ago
This is exactly right. This has nothing to do with the startups using the bank
- JumpCrisscross 4y ago> has nothing to do with the startups using the bank The proximate cause is short-term funding from risky depositors, i.e. start-ups. The ultimate cause was insolvency. (Yes, not illiquidity, simple illiquidity is solved by the Fed’s discount window.)