BREAKING: Come on, you knew it had to happen: @GoldmanSachs at the scene of the crime: it bought Silicon Valley Bank's bond portfolio: tinyurl.com/yckywyb5 It reportedly "advised" SVB to "sell" the portfolio/do a stock offering to fill the capital hole the sale created 1/5 Gee, what option(s) would have made @GoldmanSachs the most money? Humm....buying the portfolio & underwriting the stock offering maybe? Why didn't SVB go to the @federalreserve DW or take other actions where Goldman wouldn't have made $$? Asking for a friend. 2/5

.@DanielAlpert You just started following me & your 1st instinct is to attack? I have lauded the below & much more, but we're not 1 sided, uncritical cheerleaders for any1 & don't play favorites; we are independent & call 'em the way we see them, speaking truth to power 1/6

https://twitter.com/DanielAlpert/status/1635472913578053632

Calling a horse a zebra doesn't make it so. On Friday, $150Billion+ of deposits were uninsured; on Monday, they all were b/c of gvt action. Fri crypto kingpin Circle had some amount of $3.3B at risk; on money not 1 dime. Same de facto true for all other uninsureds in US 2/6

EVERYONE STOP WHAT YOU ARE DOING: a huge banking crisis is happening; @fdic just closed Silicon Valley Bank (couldn't last 5 hours to get to the weekend) & contagion is coming esp b/c only covering insured depositors, which will ignite a run on many similarly situated banks; 1/ per recent report, 93%+ of SVB deposits are uninsured & they only getting "receivership certificates" meaning getting in line w/ all other creditors; tells depositors everywhere to run asap (including to Wall St's too-big-to-fail banks which @federalreserve won't let fail) 2/