The causes of SBV failure are both idiosyncratic
HUGE uninsured runnable deposits
NO hedges
SILLY rush to safey in 2021.
But also predictable consequence of huge Fed hike.
How was this not picked up sooner? This was #16 bank. Core for Silicon Valley!
adamtooze.substack.com/p/chartbook-20… https://t.co/ZCZ8vH2PdO
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…