Paul Krugman

@paulkrugman ↗

Deleted No

Hibernated No

Last Checked April 3, 2023

Created

Sun Mar 12 13:36:58 +0000 2023

Likes

488

Retweets

Source

Twitter Web App

View Raw Data

JSON Data

View on Twitter

Likely Available

Paul Krugman @paulkrugman

In a deep sense — though not a legal sense — what SVB actually did was a kind of affinity fraud a la Madoff. It managed to convince the VC/startup/crypto etc world that it was one of them, part of their community, and hence trustworthy 5/ — PolitiTweet.org

Posted March 12, 2023

Preceded By

Paul Krugman @paulkrugman

So what was all the "dedicated to global innovation" stuff about? Some real business — but largely, I think, a form of marketing: a way to sell crypto, startups etc on the idea that SVB was their kind of bank, and hence a place to put large uninsured sums 4/ — PolitiTweet.org

Posted March 12, 2023

Followed By

Paul Krugman @paulkrugman

And of course SVB lobbied successfully for a weakening of regulations that might have prevented the blowup — as Lael Brainard warned in real time 6/ https://t.co/SWGbYcPI12 — PolitiTweet.org

Posted March 12, 2023