jjeaff

34 ms·

571.
by jjeaff 4y ago
And Charlie Munger (99) is still somehow doing press junkets.
572.
by jjeaff 4y ago
Notably, there is a lot of coastal area in southern California that shares the same climate zone as the Mediterranean.
573.
by jjeaff 4y ago
$99 plus 15-30% of everything you create.
574.
by jjeaff 4y ago
No, it's specifically the Republican party that threatens to default on the debt ceiling if the president is a Democrat.
575.
by jjeaff 4y ago
I don't think most commercial users are in the business of purposefully breaking licensing agreements. Even small startups have to worry about this because it generally comes up in due diligence for VC investment. The risk of a future
576.
by jjeaff 4y ago
Instead of a 5 year loan you just save up to buy a house? I suppose this is just a hypothetical? Because even when interest rates were high, people were not generally buying their homes in cash. That's like saying instead of renting fo
577.
by jjeaff 4y ago
Perhaps disavowing all his previous lies is his last big con? Kidding aside, I think investigative journalists have been the ones to sound the alarm on the con.
578.
by jjeaff 4y ago
I am using my Microsoft account to login to my windows 11 systems. And they do seem to cache for offline access. Because I am still able to login without internet access.
579.
by jjeaff 4y ago
Actually, it is both factually and technically true. Human intelligence (usually IQ) is not something that can be measured in a vacuum, so it is generally measured in comparison to the whole. So scores are adjusted on a bell curve such that
580.
by jjeaff 4y ago
Yes, but banks owned all the tranches. Not just the premium ones. So most of them did not pay out as expected.
581.
by jjeaff 4y ago
Yes, hence the term "underwater on your mortgage" entered the everyday American vernacular.
582.
by jjeaff 4y ago
If JP Morgan Chase was a person, it would be in prison for life and considered the most notorious financial criminal the world has ever known. $13B settlement for fraud related to sub-prime mortgages https://www.google.com/a
583.
by jjeaff 4y ago
Are you sure about the technical definition of insolvent? Any definition I can find defines insolvent as the inability to pay debts as they come due. Insolvent is when your current liabilities exceed the current market value of your assets.
584.
by jjeaff 4y ago
Seems like it wouldn't be that hard to prove malice considering several people, with data, were sounding the alarm to the rating agencies.
585.
by jjeaff 4y ago
That seems unlikely that they paid out as expecting considering we had record levels of default. The mark to market value of the MBSs didn't collapse because of increasing interest rates. They collapsed because of heavily increasing de
586.
by jjeaff 4y ago
You transposed the bar exam results. It went from 10th percentile to 90th.
587.
by jjeaff 4y ago
For the human brain, the LSAT requires reasoning. But not for an LLM. Do we even know exactly what data this is trained on? I have only seen vague references to what data they are using. If it is trained on large chunks of the internet, the
588.
by jjeaff 4y ago
Probably has more to do with the fact that those 3 banks are in 3 very high cost of living areas. New York, Bay Area, Socal
589.
by jjeaff 4y ago
It's notable that those 3 banks are headquartered in the 3 most expensive places in the country. Silicon Valley, New York, and Los Angeles. I'd say that and lack of branches with low paid employees is probably what accounts for th
590.
by jjeaff 4y ago
Or one might fire the CRO if they are tired of their incessant, daily nagging that the entire business it at risk and that we need to make sweeping changes that are going to negatively affect next quarter profitability.
591.
by jjeaff 4y ago
Mercury isn't really a bank. They are a nice, new UI that uses real banks behind the scenes. The main bank they use is Evolve bank and trust and has been around since 1987. But as of last year, they just had around $1B in assets under
592.
by jjeaff 4y ago
Do they pay anything at all for business accounts? It wasn't even legal to provide interest checking and savings to business accounts for a few years after dodd-frank. I haven't seen a lot of bank jump to offer it.
593.
by jjeaff 4y ago
I don't think Mercury pays any interest on their regular checking or savings accounts. They offer treasury accounts that you can move money to and buy securities if you want yield. So I don't think they have too much risk as far a
594.
by jjeaff 4y ago
Powell completed his JD in 1979 but then started working in investment banking by '84 and stayed in various finance jobs including under-secretary of finance from then to now. So he has the relevant experience. I doubt a business degre
595.
by jjeaff 4y ago
Partially due to lobbying on behalf of SVB itself.
596.
by jjeaff 4y ago
1% is quite a bit when you are talking about this much money. That's $2B a year if you have $200B in AUM. They were probably trying to keep their yield up because without it, you can't offer competitive savings rates which could c
597.
by jjeaff 4y ago
SVB's problem wasn't that they had too many well informed customers. It had too many lemmings and a few lemming leaders all in the same industry who pathologically can't keep a thought to themselves without sharing it to thei
598.
by jjeaff 4y ago
Come on now. The "experts" do know more than the public. Half of the public is below average, in fact. Now, what could be quibbled with is who is actually an expert. Having a lot of money and having founded a successful tech compa
599.
by jjeaff 4y ago
The secretary of transportation is far too high up the chain to know about the minutia of train brake regulations. There is a whole federal agency that deals with train regulations which is one of the 10 agencies that report to the sec of t
600.
by jjeaff 4y ago
Unlikely they would have been cut under Clinton. And I don't think the required review you are talking about is concerned with safety. It's money. The review that is required is actually a financial review that decides if the cost

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