Paul Krugman

@paulkrugman ↗

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Last Checked April 3, 2023

Created

Sat Mar 11 10:57:14 +0000 2023

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Paul Krugman @paulkrugman

So what was SVB selling? As far as I can tell, it was just unusually good at cultivating relationships with, um, Silicon Valley, specifically VC. Maybe it should have been called Schmoozing and Vibes Bank 4/ — PolitiTweet.org

Posted March 11, 2023

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Paul Krugman @paulkrugman

To be fair, deposits rose a lot all across the banking system, but SVB's rise was much faster 3/ https://t.co/6LYfDxrQsm — PolitiTweet.org

Posted March 11, 2023

Followed By

Paul Krugman @paulkrugman

There were two problems with this business model. First, the bank attracted big accounts, far larger than the 250K insured by the FDIC, making it vulnerable to a classic bank run. Second, it didn't really have any expertise in putting that money to work 5/ — PolitiTweet.org

Posted March 11, 2023