beezle

16 ms·

211.
by beezle 4y ago
Its da Post so maybe not.
212.
by beezle 4y ago
You mean its not him trying to get around momma's no cursing rule? ;)
213.
by beezle 4y ago
Yes but Twitter and Facebook have already been used for that purpose and continue to be used in that manner. I get that it is not appropriate on government phones in case they manage to leverage a zeroday but for the average Joe I'm no
214.
by beezle 4y ago
I recall back in the 90s that Fermilab had a public telnet page one could connect at to get current beam line stats/info.
215.
by beezle 4y ago
Yeah the PR really didn't get into it. However, Tommaso helped quite a bit with two posts from last year https://www.science20.com/tommaso_dorigo/is_the_cdf_w_mass_m... https://www.science20.com/t
216.
by beezle 4y ago
Anyone with a good link on why CDF is the outlier?
217.
by beezle 4y ago
The original, complete title (too long for HN) is: As the ‘right to repair’ debate comes to Montpelier, lawmakers face a ‘flood’ of opposition from national interest groups
218.
Right to repair debate in Montpelier, lawmakers face opposition from natl groups(vtdigger.org)
3 points by beezle 4y ago|1 comments
219.
by beezle 4y ago
Is Bezos also going to try to have it removed from Archive.org?
220.
by beezle 4y ago
Asking honest question here - did Oracle change the terms back so that one can now develop and distribute applications using their JDK without fees so long as one does not also re-distribute/bundle their jdk with your application(s)?
221.
by beezle 4y ago
No, the answer is let the SVB depositors take a hair cut and then you will see far better management of free cash.
222.
by beezle 4y ago
Indeed. This entire Fed action has been a bailout of uninsured depositors who really should have known better. So now "uninsured by FDIC" has the implicit meaning "insured by the Federal Reserve". I'm not suggesting
223.
by beezle 4y ago
Your understanding of the HTM portfolio (and reasons for it) are clearly not complete and no, not anyone in risk management will say their risk team should be in jail (excepting the case of documents proving the failure to hedge was done sp
224.
by beezle 4y ago
They did not buy everything in one day long before the Fed moved. The moves by the Fed were well telegraphed in advance and once the initial hike was done it was off to the races so to speak. SVB had many opportunities to do hedge and hone
225.
by beezle 4y ago
I know you are generalizing but there are times the yield curve is the other way and it is better to lend short and borrow long. But a well managed bank takes care to duration(not maturity) match their assets and liabilities while also tak
226.
by beezle 4y ago
Not all of the capital was in a HTM portfolio. SVB I'm sure had a good handle on the typical flow of funds and based off of that with some margin of error (that was obviously not everyone wants everything today).
227.
by beezle 4y ago
If you hold a bond to maturity you get the par value of the bond, typically "100" They were not holding sufficient tier 1 capital against a run or they would still be here today. The did, on the other hand, have enough to exceed
228.
by beezle 4y ago
Well, I'll take issue with your post as you captured the problem with the others. Where SVB was different than other banks is the absence of hedging. SVB's tier 1 capital was basically wiped out by a mark of the HTM portfolio, u
229.
by beezle 4y ago
I think it is also necessary to consider that many of the regional banks have more diverse clients - individuals, small business and some mid/larger business dealings. Perhaps I'm wrong but I suspect a much higher share of deposit
230.
by beezle 4y ago
Absolutely a business should be worried. I'll give two examples, one old one recent. As a college student I worked as an office temp at the hq of an midsized areospace company. They had a Treasurer, Asst Treasurer and clerk. Part of
231.
by beezle 4y ago
How is this for comedy: CNBC: 2023/03/09 "Wells Fargo says buy Signature bank the last game in crypto-town JPM: 2023/03/09 "JPMorgan predicts customers will migrate to Signature Bank’s Signet payments network.
232.
by beezle 4y ago
It should not have taken a stress test for the FRBSF or CA State Examiners to see the high risk to solvency a run would create for SVB given the size and state of their HTM portfolio.
233.
by beezle 4y ago
Moral hazard once again. At least previously there was a 5% haircut, now apparently nothing. And the loan is against the par value, not market value. If 2008 did not do it, 2023 has institutionalized moral hazard in the financial system.
234.
by beezle 4y ago
Are you also willing to pay a fee for that when interest rates are so low the bank does not earn enough spread to cover the costs of maintaining those accounts?
235.
by beezle 4y ago
Worse, it is also a lie that the cost will not be paid by taxpayer. Of course it will be - the remaining banks are going to pass the cost on via fees, higher loan rates and lower deposit rates? Yellen is not clueless. She knows exactly how
236.
by beezle 4y ago
The only factor MBS had in any of this, and it was relatively small, was compared to "normal" notes and bonds (govt or corp) the duration of mortgages extends in a risking rate environment due to fewer prepayments. So rather than
237.
by beezle 4y ago
If your amount is under 250K, its insured. If not, take 1/4 (or 1/8th) of funds and place in 4 or 8 week t-bills every week for 4 (or 8) weeks with automatic roll over. On Wed those rates were 4.80% and 4.88%.
238.
by beezle 4y ago
No, the problem was that VC's led and pushed for the panic withdraw of all funds. The bank would have had no problem if it was just the case of fewer new deposits. As to expense draw downs, those would have been ongoing and part of no
239.
by beezle 4y ago
The assets in their HTM portfolio did not all appear in March 2021 and it appears most of it was in various (C)MBS which likely paid a few bp more than comparable maturity treasuries. Unfortunately, the duration (sensitivity to change in i
240.
by beezle 4y ago
They already took a hit on at least a portion of the HTM portfolio. That portfolio was book valued at around $98B per their 10K. The bank has/had other capital as well (and were well in excess of regulatory requirements).

More ›