Christopher F. Rufo ⚔️

@realchrisrufo ↗

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Last Checked April 3, 2023

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Tue Mar 14 16:28:43 +0000 2023

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Christopher F. Rufo ⚔️ @realchrisrufo

@nic__carter @DavidSacks They made extremely stupid bets. I'm just a regular person and I made sure all of my Treasury exposure was in short-term bonds. Anyone knows that zero interest rates can only go up—and, when that happens, will hammer the underlying bond price. — PolitiTweet.org

Posted March 14, 2023

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Christopher F. Rufo ⚔️ @realchrisrufo

@DavidSacks I'm a little confused by Vivek's position here. The resolution seems very reasonable: bank run averted, depositors secured, taxpayers not on the hook, and investors in SVB get wiped out. Seems like it avoids the main moral hazard problem. — PolitiTweet.org

Posted March 14, 2023

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Christopher F. Rufo ⚔️ @realchrisrufo

@VivekGRamaswamy @DavidSacks The question of different treatment is worth considering: would depositors in an oil-and-gas bank have been treated the same? Maybe, maybe not. But the moral hazard of securing depositors is small relative to the moral hazard of bailing out the bank, which wisely didn't happen. — PolitiTweet.org

Posted March 14, 2023