Tweet by David Sacks
@DavidSacks
Washington Policies Caused SVB's Collapse - Not Wealthy Speculators
๐งต The TL;DR
SVBs collapse was caused by its own poor risk management and communications, but this is closely linked to Washington's policies. Bidenomics drove the rapid rate hikes which made mortgage bonds toxic, providing the tinder for the crisis. The Fed then took decisive action to protect deposits and backstop regional banks.
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