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I confess I feel like I've taken crazy pills with all of the takes I've seen. This post sums up my understanding perfectly. Many of the takes further complica
by taeric 4y ago
I confess I feel like I've taken crazy pills with all of the takes I've seen. This post sums up my understanding perfectly.
Many of the takes further complicate by implying that they had no assets. Which just feels like lying at this point.
- UncleEntity 4y agoIt’s not that they had no assets it’s that they couldn’t liquidate them to pay out their depositors. Sure, if everyone had just waited for the 10 year bonds to mature to access their funds their bank was in perfect shape. —edit— Assuming they could come up with enough money to pay the over market interest rates on deposits while also seeing their money flows reversing because of VC capital drying up.
- taeric 4y agoRight, I'm not arguing that they made no mistakes. That is, as the post above me said, things seem to have worked out about how they should have.