News for hackers. Stuff that matters.

A comment on How deep is the rot in America’s banking industry?. Parent comment

Re:How deep is the rot in America’s banking industry? by taeric on Thursday March 16, 2023 @04:15PM (#35187815)
I confess I feel like I've taken crazy pills with all of the takes I've seen. This post sums up my understanding perfectly.

Many of the takes further complicate by implying that they had no assets. Which just feels like lying at this point.

[ Parent | on HN ]
Re:How deep is the rot in America’s banking industry? by UncleEntity on Thursday March 16, 2023 @05:26PM (#35188909)
It’s not that they had no assets it’s that they couldn’t liquidate them to pay out their depositors.

Sure, if everyone had just waited for the 10 year bonds to mature to access their funds their bank was in perfect shape.

—edit—

Assuming they could come up with enough money to pay the over market interest rates on deposits while also seeing their money flows reversing because of VC capital drying up.

[ Parent | on HN ]
Re:How deep is the rot in America’s banking industry? by taeric on Thursday March 16, 2023 @06:24PM (#35189696)
Right, I'm not arguing that they made no mistakes. That is, as the post above me said, things seem to have worked out about how they should have.
[ Parent | on HN ]