nostromo

30 ms·

481.
by nostromo 4y ago
The Venn diagram showing federal tax payers and people with a bank account is a circle.
482.
by nostromo 4y ago
It’s a bailout with the costs borne by other banks. And those costs will be paid by anyone with a bank account.
483.
by nostromo 4y ago
> No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer. Unless you’re a taxpayer with a bank account.
484.
by nostromo 4y ago
By paying interest to attract depositors. With banks paying almost nothing to depositors, I don’t see why we should be forced to use them. Give us the same deal they get with the Fed.
485.
by nostromo 4y ago
The second clip with Ben Stein (?!) being as confidently wrong as a person can be is hilarious.
486.
by nostromo 4y ago
Thanks to many VCs asking all of their portfolio companies to withdraw at once, SVB had $42b in withdrawal requests on Thursday. On Friday there would have had many more billions if they hadn't ceased taking them. I wonder if any US b
487.
by nostromo 4y ago
Peter Thiel’s Founders Fund, Coatue Management, Union Square Ventures, Founder Collective, YC, and I’m sure many more.
488.
by nostromo 4y ago
What a total clusterfuck from so many VCs. There was a moment where they could have mustered up a bridge loan to SVB, probably at very favorable terms, saved their companies and acquired some decent assets while they're at it. Instead
489.
by nostromo 4y ago
Treasuries can and do lose value. They are not like cash which does not lose face value. Long term treasuries have declined 40% in value since they peaked in 2020. https://www.google.com/finance/quote/TLT:NASDAQ
490.
by nostromo 4y ago
It's not accurate to say the EU has been printing money like crazy for 10 years, when for most of that time, the money printing was minor compared to 2020-2022. Europe, much like the US, was printing money, at a fairly steady rate from
491.
by nostromo 4y ago
No, it’s the same. SVB made bad bets and mismanaged risk. These firms should fail to make room for better firms. And people that work with mismanaged firms will often take a loss, often via bankruptcy. Startups liked SVB because they woul
492.
by nostromo 4y ago
Inflation would like a word.
493.
by nostromo 4y ago
Owning bonds that pay 1% for 20 years when inflation is running at 7% is a great way to lose lots of money. You’ll get that money back come 2041, it just won’t be able to buy you much.
494.
by nostromo 4y ago
> abhorrent behavior How can any sane person watch this video and say her behavior was "abhorrent?" https://www.youtube.com/watch?v=k6E105a58p8 Videos like this make me so thankful for the US constitution.
495.
by nostromo 4y ago
They weren’t insolvent because banks are allowed to pretend treasuries haven’t lost value so long as they intend to hold them to maturity. Across all banks, there are over $600b in such losses. If they can hold those securities until they
496.
by nostromo 4y ago
All their money? I doubt it. SVB owned a bunch of mortgage backed securities and treasuries - both of which are down 30-50% from their peaks, which coincides with our last venture capital boom. SVB was buying at the top because they had
497.
by nostromo 4y ago
For comparison, Bear Stearns had $350b in assets in 2006 (and much less when they crashed in 2008). SVB had $210b in assets yesterday.
498.
by nostromo 4y ago
They sold a bunch of treasuries at a loss to raise cash. They also tried to raise cash by selling a few billion in stock. These aren't the actions of a healthy bank. Of course, their problems are now much much worse as people got win
499.
by nostromo 4y ago
Banks are required to have reserves. Reserves are mostly held as US Treasuries.
500.
by nostromo 4y ago
A bad spinoff of Lord of the Rings nobody watched..? I wish this was a joke, but they did increase the cost of prime to pay for that trash, rather than focusing on what people really use Prime for. https://www.hollywoodreporter.c
501.
by nostromo 4y ago
Downpayments need to be substantial because the owner needs to have skin in the game. Otherwise the borrower could walk away from the house and the mortgage with very little downside.
502.
by nostromo 4y ago
The US should cap exports of wild fish. The US actually doesn't eat that much seafood, and most of the seafood captured along the Pacific is sent to China and other importers. We're destroying our local ecosystems for a quick buc
503.
by nostromo 4y ago
The Fed tracks this. Housing units per person really has not moved much since 2000 either way. We're basically near the median for the 20-year period. https://fred.stlouisfed.org/graph/?g=j9kB One big issue not s
504.
by nostromo 4y ago
> "those people" are either "poor" or "not white" This argument actually does your argument a disservice. And I agree with your argument. I've talked with plenty of NIMBYs in my neiborhood when an apar
505.
by nostromo 4y ago
Despite the all complaining you'll see on the Urbanist, Seattle's process is pretty good for a big city -- which is probably why it's been one of the fastest growing prior to the Covid exodus from downtown. Seattle has recen
506.
by nostromo 4y ago
You can't. Most cities have very restrictive hight limitations for all the reasons you can read about in this article -- complaints about congestion, traffic, shadows, etc.
507.
by nostromo 4y ago
Freedom of speech is also the freedom to hear and read any viewpoint you'd like to hear or read. The problem currently is that there is broad censorship for many views and even if you actively want to research an issue, you'll onl
508.
by nostromo 4y ago
But that's the point. Employers are already quite limited in how they can disassociate with employees. You can divorce someone because they didn't want to have sex with you. And you can decide not to be friends with people of a
509.
by nostromo 4y ago
The timing of this is interesting, given that China is now considering giving weapons to Russia for use in Ukraine. It seemed that from 2020 until recently, the intelligence community was trying to lower tensions with China. That's sh
510.
by nostromo 4y ago
The size of the English-speaking market certainly matters. Why make a $100 million video game like GTA 5 for 200 million French speakers when you can address the market of 2 billion global English speakers? (Of course, they do localize it t

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