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A comment on Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC.

Re:Joint Statement by the Department of the Treasury, Federa... by hardstartuper on Sunday March 12, 2023 @09:23PM (#35129384)
$42B was withdrawn from SVB on Thursday. That's a lot of $$$ in one day. No wonder this collapsed. CRO/CEO should be held accountable, including their poor messaging that started this. So should anyone who was spreading the panic including some VCs and startups.
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by smoovb on Sunday March 12, 2023 @09:28PM (#35129438)
Poor messaging amplified by speed of light communications (twitter) and fast online redemptions. We're in a new era of flash mob bank runs. Likely time for a rethink on regulations - like moving to daily mark-to-market of bank security holdings.
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by hardstartuper on Sunday March 12, 2023 @09:54PM (#35129718)
Well said
[ Parent | on HN ]