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Funny. First "its collapse was first and foremost a result of its own poor risk management and communications" and then a looong rant how it actually was fault
by beefield 4y ago
Funny. First "its collapse was first and foremost a result of its own poor risk management and communications" and then a looong rant how it actually was fault of Biden, Democrats and loose monetary policy.
So far I have not seen any evidence that the real reason was anything but "poor risk management and communications" A couple of percentage points change in interest rates is not a thing that should bring your bank down. If it does, you have failed, no excuses.
- pdpi 4y ago> A couple of percentage points change in interest rates is not a thing that should bring your bank down. If it does, you have failed, no excuses. In context, it's even more egregious — Rates after that "couple of percentage points change" are still historically quite low, it's just that we've had a completely aberrant run of near-zero rates for the last decade or so. It was a matter of time until this correction happened, so preparedness was about "when", not "if", it happened.
- sonotathrowaway 4y agoThe democrats and minorities forced them to hire conservative lobbyists to weaken regulation, then forced them to refuse to hedge their interest rate risk.