It’s possible to work with a single bank and still have your deposits over $250K spread amongst as many banks as necessary to keep all your funds FDIC insured.

Yes, just quadruple the leverage of the FDIC which is already levered 10:1 or something just so a bunch of lazy retards don’t have to figure out how to manage their reserves in a responsible manner. What, do you expect these overpaid clowns 🤡 to actually earn their money? The tax payers should do that for them.

I lost IQ points just reading this. 🤦‍♂️

A list of people who should never again be trusted as a fiduciary in any capacity. They failed those they had a duty to protect.

Y Combinator

Urgent: Sign the petition now | Y Combinator

Nearly 40,000 of all depositors at Silicon Valley Bank were small businesses. If swift action isn’t taken, over 100,000 people could soon lose th...

Is there a leveraged liquidation in the last 2 years that Nic Carter didn’t get his dick caught in? That moron is turning into the Jim Cramer of crypto.

Bill Ackman told one of his portfolio companies not to use SVB a few months ago. The All In guys were talking about how sketchy SVB was back in December ’22. Yet everyone is saying it was impossible to anticipate that this bank would fail so none of the depositors should lose money. It’s blatant bullshit and anyone who falls for it is a moron or a liar.

🤪🖕🤡

If you can’t make payroll because a single bank went bust, you should never be trusted with a payroll ever again. It really is that simple. In a sane world, we wouldn’t even have to argue this.

Everyone is a libertarian until their investments make a smoking hole in the ground.

Bill Ackman crying for a bailout of his portfolio on Spaces. https://twitter.com/i/spaces/1OyKAVrMzADGb

They were totally concerned about depositors getting their money back.

This crisis is showing why SV VCs hate Bitcoin. Sound money makes their kind extinct.

This is definitely the most critical issue facing Germany in 2023. 🤪🤡🌎 https://twitter.com/axios/status/1634343405508603906

Maybe all the nation’s venture investing shouldn’t be concentrated in a single communist city and a single idiotic bank. What if investing in new companies spreads throughout the country so we don’t have these systemic risks and we don’t have a single state that can impose their draconian communist fantasies on those new companies?

Listening to the billionaires on the All In podcast insist that we **must** bail their portfolios out has made me even more hardline on the opposite side. Fuck these assholes. If their portfolio companies need a bailout, back your fat cat asses up and bail them out. Or fuck off!

Perhaps they should have focused on prudent risk management?

People keep saying nobody thinks of bank deposits as a loan to the bank. This is fucking stupid and wrong. My company literally just opened another checking account a few months ago because we sometimes need to hold more than $250K in cash for cash flow reasons and we weren’t comfortable having money in an account that wasn’t FDIC insured. My partners are complete or normies too so this isn’t a Bitcoiner only way to think. It’s crazy to think your bank can’t fail. Have none of these assholes watched It’s a Wonderful Life? I’ve been fascinated by bank runs since I was a kid partially because of that movie. Hell, I had a panic attack at the beginning of the Covid lockdowns when I realized me and all my partners had all our cash sitting in separate accounts at the same local bank. I immediately moved a bunch of cash out of that account into several other accounts just so one of us would have liquidity if something went down at our primary local bank. People putting all their eggs in one basket are morons. It’s that simple.

Another side effect: another important Democratic donor base will have less money to throw around for politics right before the next election gears up.

Been on Twitter for the last couple days for the first time in more than a month or so. What a shithole. I definitely don’t miss it, but Nostr can’t yet compete for following a fast moving story like this. A temporary necessary evil and I’m looking forward to ignoring it again.

All their ESG fantasies going up in smoke. Jamie Dimon has been on a public rampage about this nonsense for the last year or so. Jerome announced in July ‘21 that he has zero interest or authority to use the Fed to promote climate change goals. The green commies are getting their asses kicked.