David Sacks

@DavidSacks ↗

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Last Checked April 3, 2023

Created

Tue Mar 14 21:15:32 +0000 2023

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David Sacks @DavidSacks

Once the run on the bank started, decisive action by the Fed was imperative. This meant protecting deposits (uninsured are 50%) and backstopping regional banks. No matter how distasteful you may find those things to be, it was necessary to prevent a greater economic calamity. — PolitiTweet.org

Posted March 14, 2023

Preceded By

David Sacks @DavidSacks

Some unscrupulous reporters and political types have even claimed that somehow I caused this through my tweeting. Damn, you must think I’m Superman! Or maybe E.F. Hutton. But the timing doesn’t line up at all, as I already explained. — PolitiTweet.org

In the never-ending quest for scapegoats, some reporters and political types are asking if @theallinpod could have… https://t.co/ryRP3qx0Kl

Posted March 14, 2023

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David Sacks @DavidSacks

Back to SVB: its collapse was first and foremost a result of its own poor risk management and communications. It should have hedged its interest rate risk. And it should have raised the necessary capital months ago through an offering that didn’t spook the street. — PolitiTweet.org

Posted March 14, 2023