I encountered a contrarian take from a financial blogger named Joseph Wang ("FedGuy12" on twitter) which disputed the idea that this bank was any more significant, or any less regional, than the hundreds of others that have failed. I don't know about that but it does seem the depositors of SVB benefitted - er, so to speak - from their ab…
I encountered a contrarian take from a financial blogger named Joseph Wang ("FedGuy12" on twitter) which disputed the idea that this bank was any more significant, or any less regional, than the hundreds of others that have failed.
I don't know about that but it does seem the depositors of SVB benefitted - er, so to speak - from their ability to magnify the bank's issues in the media, after first telegraphing their panic via e.g. at least one breathless longform tweet that described in detail - "this was my day" - all their steps involved in wiring their money to new accounts:
I encountered a contrarian take from a financial blogger named Joseph Wang ("FedGuy12" on twitter) which disputed the idea that this bank was any more significant, or any less regional, than the hundreds of others that have failed.
I don't know about that but it does seem the depositors of SVB benefitted - er, so to speak - from their ability to magnify the bank's issues in the media, after first telegraphing their panic via e.g. at least one breathless longform tweet that described in detail - "this was my day" - all their steps involved in wiring their money to new accounts:
https://twitter.com/torrenegra/status/1634573234187407369
Oh well, water under the bridge now. We're once again in a new world, but that's nothing new.