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A comment on SVB shows that there are few libertarians in a financial foxhole. Parent comment

Re:SVB shows that there are few libertarians in a financial ... by ramesh31 on Monday March 13, 2023 @04:32PM (#35142100)
>If you step past that and look at the government role, that’s a fine starting point for discussion about systemic issues in our society, but doesn’t absolve SVB of being the most proximate “root cause” of their own problems.

I think it's time we stop imagining that financial institutions will ever do anything that they are not legally required to do. This was a failure of regulation. Calling it personal responsibility is about the same as getting mad at the dog for getting into the garbage. It's our fault for not taking out the trash.

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Re:SVB shows that there are few libertarians in a financial ... by tracker1 on Monday March 13, 2023 @05:43PM (#35143277)
I think the failure, in terms of regulation, is holding accountability in the first place when they violate existing laws and SEC regulations. Not to mention, ever actually holding executives and boards to account in terms of liability against their personal wealth.
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Re:SVB shows that there are few libertarians in a financial ... by lmm on Monday March 13, 2023 @11:33PM (#35147092)
It used to be that the likes of accountants and lawyers weren't allowed to be limited liability corporations - they had to be run as partnerships, with unlimited personal liability. (Sadly, this rule was done away with, and shortly after that we got Enron). Maybe the same should apply to banks.
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