Small U.S. banks lose 1.9% of their deposits after SVB failure Mar. 24, 2023 at 4:49 p.m. ET by Jeffry Bartash

Small U.S. banks lose 1.9% of their deposits after SVB failure
Mar. 24, 2023 at 4:49 p.m. ET by Jeffry Bartash

> 

Yet one more #veryStupidByLowIQaa post.

On Mon, 27 Mar 2023 18:20:23 -0700 (PDT), a a <manta103g@gmail.com>
wrote:

>
>Small U.S. banks lose 1.9% of their deposits after SVB failure
>Mar. 24, 2023 at 4:49 p.m. ET by Jeffry Bartash

https://finance.yahoo.com/news/brazilian-billionaire-says-intern-seen-150253380.html

Too bad the Fed isn't run by interns. They would have predicted the
consequences of flailing interest rates around.

SVB made the great mistake of trusting the morons who enjoy spinning
big knobs.

On Thursday, March 30, 2023 at 3:55:40 AM UTC+11, John Larkin wrote:
> On Mon, 27 Mar 2023 18:20:23 -0700 (PDT), a a <mant...@gmail.com> 
> wrote:
> > 
> >Small U.S. banks lose 1.9% of their deposits after SVB failure 
> >Mar. 24, 2023 at 4:49 p.m. ET by Jeffry Bartash
> https://finance.yahoo.com/news/brazilian-billionaire-says-intern-seen-150253380.html 
> 
> Too bad the Fed isn't run by interns. They would have predicted the  consequences of flailing interest rates around. 

Interns are unsophisticated enough to think that they could have predicted the consequences. More experienced economists know enough  to realise that that the economy is hard to predict. John Larkin is unsophisticated enough to think that linear control theory is up to the job. John Maynard Keynes got famous for pointing out that it wasn't, but less sophisticated economists shared John Larkin's faith in mathematicaly tractable models of the economy, even through they don't model the actual economy.

> SVB made the great mistake of trusting the morons who enjoy spinning  big knobs.

They didn't have a lot of choice. I suppose they could have chosen to become an off-shore bank and relocated to Mexico,  but they would have stopped being a Silicon Valley bank.

-- 
Bill Sloman, Sydney