The chain of arrogant incompetence.
•SVB's Becker is on the Board of the SF Fed
•Mary Daly is President of SF Fed
•Ms. Daly attends FOMC meetings in 2022, non-voter
•SVB stops hedging against higher rates in 2022
•SVB Texas Hedges lower rates
HTF does this happen?
•SVB's Becker is on the Board of the SF Fed
•Mary Daly is President of SF Fed
•Ms. Daly attends FOMC meetings in 2022, non-voter
•SVB stops hedging against higher rates in 2022
•SVB Texas Hedges lower rates
HTF does this happen?
The Fed claims they are going to investigate how SVB failed and the lapse in oversight. They will likely throw FDIC under the bus when they should be perp walking the DEI staffed SF Fed into the bay. And of course we get the bill for this in lower rates from our banks.
#GoWokeGoBroke may or may not have happened at SVB, but it damn sure happened @sffed
Becker: Hi Mary this Becker over at SVB
Mary: Oh hey!
Becker: Our interest rate hedges we put on are expiring, thinking of not renewing or reversing.
Mary: Whatev's. Hope you can make it to our pride event he/him/they/them.
Mary: Oh hey!
Becker: Our interest rate hedges we put on are expiring, thinking of not renewing or reversing.
Mary: Whatev's. Hope you can make it to our pride event he/him/they/them.
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