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And yet today's article from the NYTIMES[0] shows that the Federal Reserve was aware for more than a year that SVB was using the wrong model for risk. Despite g
by markoman 4y ago
And yet today's article from the NYTIMES[0] shows that the Federal Reserve was aware for more than a year that SVB was using the wrong model for risk. Despite giving the bank several warnings, they did not fix its 'vulnerabilities'.
This news just came out today, so perhaps the WFH rationale wouldn't have been given press had this been known?
[0] https://www.nytimes.com/2023/03/19/business/economy/fed-silicon-valley-bank.html https://www.nytimes.com/2023/03/19/business/economy/fed-sili...
- deleted 4y ago[deleted]