muzz

7 ms·

61.
by muzz 4y ago
Odd assumption to make
62.
by muzz 4y ago
> but people treat it as de-facto zero risk. FDIC guarantees deposits up to 250k and everyone should know this. I know grandmothers with better risk mitigation strategies than these startups. Your second paragraph is pure scare tactic. C
63.
by muzz 4y ago
With TARP the government owned assets. For every dollar they invested, they could receive less, equal, or more than a dollar. Overall, they received more. Tan is proposing the backstop deposits. In this case, the govt can receive AT MOST
64.
by muzz 4y ago
Because the rate in long term bonds was 1.x% compared to 0% for the short term bonds. It was a risky move but one that could have panned out if the deposits had remained.
65.
by muzz 4y ago
While Tan was fear-mongering to try to get a taxpayer bailout for portfolio companies, this govt agency was working over the weekend
66.
by muzz 4y ago
The first sentence is basically what Tan is proposing
67.
by muzz 4y ago
Depositors are not at risk of being wiped out. The first 250k is insured and it looks like they will get back a lot of the uninsured portion
68.
by muzz 4y ago
Nope. This is a commonly used scare tactic. Tan's proposed bailout is nothing like TARP
69.
by muzz 4y ago
Depositors knowingly took the risk of having such large deposits there. They made this decision and should face the consequences of it, not the taxpayers.
70.
by muzz 4y ago
Because "they did nothing wrong" is his way of saying they are entitled to a taxpayer bailout
71.
by muzz 4y ago
If payroll is your primary concern, this seems like a roundabout way to go about it. Why not bridge them directly?
72.
by muzz 4y ago
1. It won't spin out of control. 2. Stock in SVB (market capitalization) is $6B. Deposits are almost $200B. Depositors who had put more than 250k did so willingly knowing the risks.
73.
by muzz 4y ago
The comments from head of YC alone might be that selling point If bank regulators move swiftly and ensure orderly withdrawals, his comments will go down in history as crying wolf, and that's putting it lightly
74.
by muzz 4y ago
Their supposed viewpoint was really just a lie of convenience
75.
by muzz 4y ago
Only YC is out there with this kind of histrionics (and maybe a few others like David Sacks). You don't see it from any other prominent Silicon Valley figures
76.
by muzz 4y ago
How many?
77.
by muzz 4y ago
Those who fear-monger like this should be held responsible
78.
by muzz 4y ago
It looks like AT LEAST 80-90% of the deposits will be returned, possibly 100% Truly strange why they are lobbying so hard for government bailouts of the remaining portion, when there might end up being no remaining portion.
79.
by muzz 4y ago
This makes Tan's/YC's histrionics all the more puzzling
80.
by muzz 4y ago
This tweet looks more and more like utter BS
81.
by muzz 4y ago
Yes-- if they kept that cash until now they would be sitting pretty
82.
by muzz 4y ago
Looks like that's happening: https://www.bloomberg.com/news/articles/2023-03-11/fdic-race...
83.
by muzz 4y ago
I doubt any company will miss payroll this week FDIC Races to Return Some Uninsured SVB Deposits Monday https://www.bloomberg.com/news/articles/2023-03-11/fdic-race...
84.
by muzz 4y ago
Right, the problem was greed driving risk
85.
by muzz 4y ago
YC sounds a lot like ZH these days
86.
by muzz 4y ago
Yes and this describes precisely their hypocrisy
87.
by muzz 4y ago
Indeed. Deposits at IndyMac Bank were only paid 50 cents on the dollar in 2008.
88.
by muzz 4y ago
Funny how this not mentioned in the petition or any of the posts
89.
by muzz 4y ago
Because 2008 was so long ago? What were the CFOs of these companies doing.
90.
by muzz 4y ago
Agreed, and it's kinda crazy that someone as respected as him is choosing to die on this hill.

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