from Balaji | by Balaji

Balaji

@balajis

over 2 years ago

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Fact: millions of depositors at hundreds[0] of banks (including SVB) weren't warned that their banks were rendered insolvent by Powell's surprise rate hikes, despite the fact that the Fed and FDIC both demonstrably knew months before SVB[1, 2]. They still haven't been warned.…

This is a response to this weird tweet by @thestalwart who has taken the unusual step of being reasonably cordial for ~5 years, then blocking and yet tweeting screenshots from behind a block. It's weird because (a) I was clearly speaking about the broader set of depositors… t.co/FI8gJRmuzj t.co/lsASRtVDL7