TiltsAreUnderrated
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« Reply #1 on: March 15, 2023, 10:26:53 AM » |
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« Edited: March 15, 2023, 10:30:42 AM by TiltsAreUnderrated »
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The lack of consequences for SVB's investors and higher insurance rates at more responsible banks as a result of SVB's misbehavior will, in the medium to long term, expose the entire sector to more risk than they would have experienced had it been regulated or even allowed to fail.
I think the impact will be significant, but it's part of a wider pattern of mismanagement - so I picked option 4.
Beyond the direct impacts on banking and investment, the help provided to the dominant class of VCs in the tech sector is ultimately bad news for said sector and what it could, in theory, offer to society. It will (rightly!) contribute to political cynicism and disillusionment - not great if you value social stability, but I don't believe that is the highest good.
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