VagueMag

28 ms·

331.
by VagueMag 4y ago
It depends. If it works, this could help forestall a fire sale of the same sort of assets which are backing SVB uninsured deposits.
332.
by VagueMag 4y ago
Some of the other large regional banks also have a very large proportion of deposits above the FDIC insurance limits, and are also sitting on hold-to-maturity portfolios which can't be liquidated to satisfy a large deposit outflow with
333.
US discusses fund to backstop deposits if more banks fail(bloomberg.com)
52 points by VagueMag 4y ago|82 comments
334.
by VagueMag 4y ago
In the U.S. there used to be a system called "double liability" where bank shareholders could be assessed up to the par value of their stock for money needed to make depositors whole in the event of a failure.
335.
FDIC Races to Start Returning Some Uninsured SVB Deposits on Monday(bloomberg.com)
2 points by VagueMag 4y ago|0 comments
336.
by VagueMag 4y ago
I would like to know how I can get the $400K/year corporate treasurer job that's just "park all the money in a single bank account with no insurance."
337.
Silicon Valley Bank paid out bonuses hours before seizure(axios.com)
201 points by VagueMag 4y ago|80 comments
338.
An Update on USDC and Silicon Valley Bank(circle.com)
217 points by VagueMag 4y ago|198 comments
339.
Silicon Valley Bank Collapse Sets Off Blame Game in Tech Industry(nytimes.com)
2 points by VagueMag 4y ago|0 comments
340.
Circle says outstanding USDC transactions on Signet won't close until Monday(theblock.co)
2 points by VagueMag 4y ago|0 comments
341.
by VagueMag 4y ago
Even if USDC eventually manages to regain the peg, it seems likely this will cause major long term damage to adoption. Who wants to hold a "stablecoin" that can sit at a 7+% discount to par for over a day?
342.
by VagueMag 4y ago
The problem is that Coinbase probably has no way to say for sure what percentage of the reserves will actually be liquid on Monday. Other banks which held USDC reserves included Signature Bank of NY and Silvergate, both of which are also lo
343.
After Silicon Valley Bank fails, tech startups race to meet payroll(wsj.com)
7 points by VagueMag 4y ago|0 comments
344.
Circle says $3.3B of USDC reserves are with Silicon Valley Bank(theblock.co)
3 points by VagueMag 4y ago|0 comments
345.
Silicon Valley Bank's failure highlights danger lurking in higher interest rates(ft.com)
1 points by VagueMag 4y ago|0 comments
346.
CEO of failed Silicon Valley Bank no longer a director at SF Fed(reuters.com)
76 points by VagueMag 4y ago|9 comments
347.
by VagueMag 4y ago
For Pete's sake, 1 month Treasury bills are yielding more than almost every bank account. Just set up a TreasuryDirect account and be done with it.
348.
by VagueMag 4y ago
Completely agree, but it did surprise me a bit and I didn't find much when I googled around for "don't mix var and the diamond operator."
349.
Wall Street examines risk around short-dated options as warnings rise(reuters.com)
2 points by VagueMag 4y ago|0 comments
350.
by VagueMag 4y ago
> Some inconsistency of choices also kinda baffles me. First they added support for skipping necessity of mentioning generic type inside <> during instantiation, only to introduce local vars later that require you to mention gener
351.
by VagueMag 4y ago
I've been playing around a lot with the pattern matching preview features in a small personal greenfield project, and the requirement to explicitly spell out the generic type params every time always catches me off guard and sorta crap
352.
Deconstruction Patterns for Java(mail.openjdk.org)
2 points by VagueMag 4y ago|0 comments
353.
by VagueMag 4y ago
My favorite example of this was the major outage at a Swedish futures exchange in 2012 where the system wound up treating an unsigned order quantity as "negative" and placed an order for 4 billion futures contracts: https:/&
354.
by VagueMag 4y ago
> How would they protect themselves and their loved ones from the same fate that they so callously cast upon the rest of us? A good question, but worth noting that they do seem to have in fact done so. I struggle to think of a single-h
355.
by VagueMag 4y ago
How do you embrace "lab leak" without also embracing a conspiracy to conceal the virus's origins after it escaped into the wild? Or has the term "conspiracy" just been fully redefined to mean "a thing that can&
356.
Trader prosecuted for exploiting exchange code to withdraw millions(wsj.com)
2 points by VagueMag 4y ago|0 comments
357.
by VagueMag 4y ago
> If masks don't work, then future lockdowns will be stricter This only follows by granting certain huge assumptions which have never been well defended, first and foremost that lockdowns are effective over the long term in prev
358.
by VagueMag 4y ago
> It seems likely that in societies who followed the guidance strictly, there must have been _some_ reduction in infections. There are lots of Asian countries where mask mandate compliance has been well over 95%. Still, you cannot poin
359.
by VagueMag 4y ago
The point of masks during surgery is to prevent large droplets of spittle from making their way into open wounds on the operating table. It's a completely ridiculous comparison to jump from that to trying to reduce the spread of airbor
360.
by VagueMag 4y ago
Then again a solid majority of those businesses are not also involved in sex trafficking of children.

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