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Yeah the whole thing is a typical example of HackerNews readers not actually knowing anything outside of programming. All this means is bank profits MIGHT be s
by freddie_mercury 3y ago
Yeah the whole thing is a typical example of HackerNews readers not actually knowing anything outside of programming.
All this means is bank profits MIGHT be slightly lower this year. All of them set records for profits in 2023, so this seems like a big nothingburger.
- bilbo0s 3y agoI wouldn't say "nothingburger", but I would say HN users, as per usual, are misunderstanding the issue. It's not as serious as exceeding cash reserves. It's, theoretically, a temporary problem that bank executives are actually legally obligated to remedy. It does, however, warrant banks reevaluating their risk assessment practices. Or maybe the problem is elsewhere? Something is definitely out of place for this situation to even arise so soon after the unpleasantness of 2008.
- JumpCrisscross 3y ago> not as serious as exceeding cash reserves Reserves are entirely an accounting item. There are no cash reserves. > warrant banks reevaluating their risk assessment practices It’s predicting they already have. This article is messaging likely earnings outcomes. Not a crisis.
- qarl 3y ago> Yeah the whole thing is a typical example of HackerNews readers not actually knowing anything outside of programming. I feel like this should be said a second time.
- ttymck 3y agoWhat is "the whole thing"? Did HackerNews readers write the article?