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Yes and it's in the fed's playbook to secure as much of the deposits as they can as quick as they can. This is exactly what they did and that's something that c

Yes and it's in the fed's playbook to secure as much of the deposits as they can as quick as they can. This is exactly what they did and that's something that can take a few days. None of these tweets did anything to change that.

twblalock 4y ago
This is not part of the normal playbook. If it was, it would not involve special announcements and a speech by the President. The normal playbook for this happens multiple times per year at small regional banks and it barely registers on the news. This is special. The government did what the VCs recommended. Maybe not because of the tweets, but it still happened because what the VCs recommended was actually the right thing for the government to be doing! The systemic risk identified by the VCs is real!
- Apocryphon 4y ago
  Why are you attributing this action to VCs grandstanding on social media, rather than, you know, government regulators and private analysts doing their job? That's just being distracted by the dog and pony show.
  - twblalock 4y ago
    > Why are you attributing this action to VCs grandstanding on social media I'm not attributing it to that. I'm merely pointing out that the government is doing what the VCs were calling for, because it was clearly the correct move. VCs ask the government to do a thing and people mock them and say it's a crazy thing to do. Then the government does that thing (whether or not they did it because VCs wanted it is entirely immaterial to my point) and you don't see the same people saying the government was doing a crazy thing.
    - Apocryphon 4y ago
      Personally, I don't even know if the VCs were asking for such a crazy thing, but the way VCs like Calacanis went about asking for it were certainly unhinged and histrionic, undignified and deeply revealing, which is what TFA is all about. It was a "mask off" moment.
      - twblalock 4y ago
        As far as I can tell Calacanis was just using all caps, and he was warning about a real risk that probably would have caused more banks to fail as early this morning, which is hardly insanity.
        Apocryphon 4y ago
        He was going about it in a manic way, and certainly while this observation into social behavior is in the eye of the beholder, it is hardly uncontroversial to label tweeting in full caps as off-putting alarmist behavior.
- deleted 4y ago
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- wil421 4y ago
  The last bank that was taken over by the FDIC was Almena State Bank in 2020 that had 65 million in assets. This does not play out regularly.
  - xboxnolifes 4y ago
    Then again the year prior, and again 2 years prior, and again every year back for over a decade. 500 times over a decade is not a rare occurrence.
    - wil421 4y ago
      I will fact check your baseless claim. Since 2013 there have been 71 banks fail according to the FDIC's bank failures in brief Infograph. Those 71 banks had assets totaling 23,399.20 million (or 23 billion). SVB had asses totaling 209,000 million (209 billion).[1] Where are the 500 banks again and again every year over the last decade? [1]https://www.fdic.gov/bank/historical/bank/ https://www.fdic.gov/bank/historical/bank/
      - xboxnolifes 4y ago
        I didn't say this decade. 2009-2019. No need to add the innocent "where are these 500 banks", they are literally in your source.

twblalock 4y ago

This is not part of the normal playbook. If it was, it would not involve special announcements and a speech by the President. The normal playbook for this happens multiple times per year at small regional banks and it barely registers on the news. This is special. The government did what the VCs recommended. Maybe not because of the tweets, but it still happened because what the VCs recommended was actually the right thing for the government to be doing! The systemic risk identified by the VCs is real!

Apocryphon 4y ago
Why are you attributing this action to VCs grandstanding on social media, rather than, you know, government regulators and private analysts doing their job? That's just being distracted by the dog and pony show.
- twblalock 4y ago
  > Why are you attributing this action to VCs grandstanding on social media I'm not attributing it to that. I'm merely pointing out that the government is doing what the VCs were calling for, because it was clearly the correct move. VCs ask the government to do a thing and people mock them and say it's a crazy thing to do. Then the government does that thing (whether or not they did it because VCs wanted it is entirely immaterial to my point) and you don't see the same people saying the government was doing a crazy thing.
  - Apocryphon 4y ago
    Personally, I don't even know if the VCs were asking for such a crazy thing, but the way VCs like Calacanis went about asking for it were certainly unhinged and histrionic, undignified and deeply revealing, which is what TFA is all about. It was a "mask off" moment.
    - twblalock 4y ago
      As far as I can tell Calacanis was just using all caps, and he was warning about a real risk that probably would have caused more banks to fail as early this morning, which is hardly insanity.
      - Apocryphon 4y ago
        He was going about it in a manic way, and certainly while this observation into social behavior is in the eye of the beholder, it is hardly uncontroversial to label tweeting in full caps as off-putting alarmist behavior.
deleted 4y ago
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wil421 4y ago
The last bank that was taken over by the FDIC was Almena State Bank in 2020 that had 65 million in assets. This does not play out regularly.
- xboxnolifes 4y ago
  Then again the year prior, and again 2 years prior, and again every year back for over a decade. 500 times over a decade is not a rare occurrence.
  - wil421 4y ago
    I will fact check your baseless claim. Since 2013 there have been 71 banks fail according to the FDIC's bank failures in brief Infograph. Those 71 banks had assets totaling 23,399.20 million (or 23 billion). SVB had asses totaling 209,000 million (209 billion).[1] Where are the 500 banks again and again every year over the last decade? [1]https://www.fdic.gov/bank/historical/bank/ https://www.fdic.gov/bank/historical/bank/
    - xboxnolifes 4y ago
      I didn't say this decade. 2009-2019. No need to add the innocent "where are these 500 banks", they are literally in your source.