Matthew Yglesias

@mattyglesias ↗

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Last Checked March 15, 2023

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Sun Mar 12 22:16:34 +0000 2023

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Matthew Yglesias @mattyglesias

The reason this works is that most banks are small so the set of possible buyers is large and someone usually turns out to be ambitious enough to go for it. When rural banks fail that’s what happens there’s no big controversy. — PolitiTweet.org

Posted March 12, 2023

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Matthew Yglesias @mattyglesias

I think a lot of the tech community has misconstrued what makes this situation difficult. Normally failed banks get resolved with no losses to depositors (insured or otherwise) and no government bailout because the FDIC sells the bank to some other more solvent bank. — PolitiTweet.org

i believe that if Silicon Valley Bank were instead called Farmers Bank Of Santa Clara (they bank a lot of winegrowe… https://t.co/MaoJdFd49L

Posted March 12, 2023

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Matthew Yglesias @mattyglesias

The issue with SVB is that the VC and startup communities and their social peers all clustered into this one bank to the point where it became awkwardly sized and the list of feasible buyers is very short. It’s not bias or politics that makes it hard. It’s just size. — PolitiTweet.org

Posted March 12, 2023