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The last 72 hours validate the view that Silicon Valley isn’t capable of taking leadership in fixing the problems it creates, and that we’ll have to rely on Was
by akamaka 4y ago
The last 72 hours validate the view that Silicon Valley isn’t capable of taking leadership in fixing the problems it creates, and that we’ll have to rely on Washington to set the rules.
- dheera 4y agoWashington set faulty rules in the first place. Since when was it logical to lend out money that wasn't yours?
- akamaka 4y agoI didn’t say that Washington setting the rules was a good thing — but who else will step in where there has been a complete vacuum of any leadership in Silicon Valley in the last few days?
- dheera 4y agoWhat kind of leadership were you expecting? The rules didn't change recently, the rules just got executed as planned, which prescribed the FDIC takeover.
- TheAlchemist 4y agoThe rules also stated that FDIC insures amounts up to 250k$. This rule changed in a big way over the week-end.
- deleted 4y ago[deleted]
- andsoitis 4y ago> Since when was it logical to lend out money that wasn't yours? Since the idea of banks began as long ago as 1,800 BC in Babylon.