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They also have a portfolio of (dogshit, I’m sure) loans to startups that I would wager is worth at most 50 cents on the dollar. Deposit liabilities at SVB will
by quickthrowman 4y ago
They also have a portfolio of (dogshit, I’m sure) loans to startups that I would wager is worth at most 50 cents on the dollar. Deposit liabilities at SVB will exceed asset liquidation value, I’d bet a decent sum of money on that.
- selectodude 4y agoTheir whole problem was that they didn't have anybody to loan to. Startups aren't borrowing from banks, they're getting VC money and parking it at SVB. Their "dogshit" is 10 year treasuries almost exclusively.