There’s something very ugly happening right now: VCs & startup execs who stand to lose their deposits at SVB are going *out of their way* to push a narrative that there’ll be a bank run on Monday if SVB depositors aren’t bailed out by the government. They’re yelling fire in the…
— Vivek Ramaswamy (@VivekGRamaswamy) March 12, 2023
SVB Doesn’t Deserve a Taxpayer Bailout
Ignore Silicon Valley fear-mongering about bank runs. This is a simple case of bad risk management.
If all bank deposits are now insured 100% by the US govt … what new moral hazards are we building into the system?
If there is zero risk to bank risk managers making lousy decisions, they can “bet the bank” for their annual bonus, knowing the US govt will cover them if wrong.
— Wall Street Mav (@WallStreetMav) March 12, 2023
When the government starts planning on censoring information, you can bet that there is something fishy about the narrative you are being fed:
Rep. Massie: DHS efforts are already underway to add censorship of "financial misinformation" to CISA's portfolio of "critical infrastructure" domains it can classify tweets as a cyber attack on, & thus censor. See, e.g., link below:https://t.co/M1FzQuUtv8 https://t.co/dPJQdpd7sf pic.twitter.com/37sy70744K
— Mike Benz (@MikeBenzCyber) March 13, 2023
Crony capitalism & fear-mongering reign supreme in America. The FDIC only insures deposits up to $250,000. By selectively changing the rules after the fact for SVB, the U.S. government now incentivizes greater risk-taking by banks & depositors in the future, teaching large…
— Vivek Ramaswamy (@VivekGRamaswamy) March 13, 2023
SVB had NO head of 'risk assessment' for nine months before it collapsed… as woke boss for Europe, Middle East and Africa was busy organizing a month-long Pride campaign and a 'Lesbian Visibility Day'https://t.co/y7jUqFXC4d
— Robert W Malone, MD (@RWMaloneMD) March 12, 2023
AC