the government has a role to protect depositors, and we should all want this certainty. but part of the deal should be that when they get it wrong, they help take care of depositors (liquidity, arranging a sale, etc.)
@sama
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SVB Crisis: How Political Branding Complicated Banking Resolution
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i believe that if Silicon Valley Bank were instead called Farmers Bank Of Santa Clara (they bank a lot of winegrowers!) we would have had this easily resolved. unfortunately it became somewhat political.
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Politicians Downplay Payroll Banking Crisis Responsibility
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very surprised to see some politicians taking the position that payroll just isn't that a big deal, that companies/individuals personally need to make sure their bank doesn't go under, etc.
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FDIC Emergency Measures Prevent Banking System Collapse
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this would have been easy to fix friday, but now being certain of avoiding calamity requires something drastic. e.g. the FDIC temporarily guaranteeing all deposits, and announcing emergency liquidity as needed for continuity of operations.
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Government Inaction Risks Financial Crisis and Bank Runs
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as of friday, many of the relevant people in government didn't understand the magnitude of this. now i think more do. unfortunately, it's been much too long without reassurance and action, and the energy for bank runs tomorrow now exists.
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Market Speed Acceleration and Financial Uncertainty in 2026
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much weaker action would have worked on friday, but here we are. much weaker action might still work today, but i don't feel certain of it. again: the speed of the world has changed. things can unwind fast. people talk fast. people move money fast.
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Investors Offer Emergency Cash to Startups Without Documentation
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investors who ask "how can i be helpful": today is a good day to offer emergency cash to your startups that need it for payroll or whatever. no docs, no terms, just send money. it's hard for me to imagine depositors actually losing money here, but so stressful in the meantime…
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Demand More Tests, Drop Expensive Consultant Essays
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how about more tests and drop the personal-essay-written-by-expensive-consultants?
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Testing and Equal Opportunity in AI Selection Processes
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i'd love to see data, but as imperfect as tests are, i bet they do more for equality of opportunity than most of the rest of the application process, and it's very possible to look at scores in context. this is the echochamber gone very wrong.
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Merit Abandonment Threatens American Society’s Future
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abandonment of merit will cost american society greatly.