Jon Favreau

@jonfavs ↗

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Last Checked April 3, 2023

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Mon Mar 13 15:25:50 +0000 2023

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Jon Favreau @jonfavs

@nycsouthpaw 4) But I don’t think that means we should’ve risked a broader run on small and mid-size banks or a bunch of layoffs at start-ups and small businesses - particular when the cost of doing so is small and from a fund that’s financed by big banks. — PolitiTweet.org

Posted March 13, 2023

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Jon Favreau @jonfavs

@nycsouthpaw 3) You didn’t ask, but I also fault rich VC assholes for SVB’s collapse, and they almost caused a broader bank run. They also fought, along with Rs and some Ds, better oversight of SVB-size banks. Fuck them for that. — PolitiTweet.org

Posted March 13, 2023

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Jon Favreau @jonfavs

@nycsouthpaw Yeah, I'm not either. I think VCs and SVB forced the government to choose the best bad option, and clearly this is socializing losses, but the cost is relatively minimal compared to the risk of not acting and backstopped by a big bank-financed gov fund. And that's not spin. — PolitiTweet.org

Posted March 13, 2023