ECONOMY

→ View original post on X — @naval

Bank Guarantees and Financial Regulation Policy

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@naval

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12 March 2023 18h52

You can’t guarantee some banks and not guarantee others.

Government Role in Depositor Protection and Financial Accountability

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12 March 2023 17h43

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.)

SVB Bank Failure: Management Fault and Regulatory Oversight

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12 March 2023 17h43

also, i was once on the board of a bank holding company. the fault here lies with the management of SVB, but there were intense and frequent audits by regulators to prevent exactly this from happening.

Politicians Downplay Payroll Banking Crisis Responsibility

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12 March 2023 17h43

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.

SVB Crisis: How Political Branding Complicated Banking Resolution

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12 March 2023 17h43

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.

FDIC Emergency Measures Prevent Banking System Collapse

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12 March 2023 17h43

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.

Government Inaction Risks Financial Crisis and Bank Runs

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12 March 2023 17h43

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.

Market Speed Acceleration and Financial Uncertainty in 2026

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12 March 2023 17h43

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.

→ View original post on X — @marek_rosa

AI Won’t Cause Unemployment in Regulated Sectors

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@marek_rosa

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12 March 2023 16h24

Thought-provoking article from @pmarca
, saying that: a) AI will not take our jobs because most jobs in the future are going to be in the regulated sectors (totally safe from AI, regardless of how good AI gets) https://
pmarca.substack.com/p/followup-to-
why-ai-wont-cause-unemployment
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