This is true. Majority of republicans are too fat to tie shoes, so they wear loafers.

For once, LibRight is not the butt of the joke in a politcal compass meme^^



Even liberal leaning sources have already pointed out that the Trump deregulations on trains are not the culprit for the recent derailments.
https://www.washingtonpost.com/politics/2023/02/27/so-far-trumps-rollback-regulations-cant-be-blamed-ohio-train-wreck/

None of the SVB saga would have happened if not for the excessive covid lockdowns and the "haha money printer go brrrr"-approach of the time. Or if the FED and the Biden admin had taken the signs of an inflation surge seriously in time instead of bloviating about "transient inflation". And the Western decision to answer Russia's invasion of Ukraine with an economic war which predictably fueled inflation even further also needlessly contributed to the current financial environment where there's bubbles, fragility and recession angst everywhere.

The crash of SVB is mostly on a series of catastrophically misguided big-picture policy decisions in recent years, rather than a failure of regulation. For instance, note that the balance sheet of SVB almost doubled between 31/12/2020 and 31/12/2021:

https://d18rn0p25nwr6d.cloudfront.net/CIK-0000719739/4b031df0-621a-429e-95ec-1ba5f88b029d.pdf
https://ir.svb.com/financials/annual-reports-and-proxies/default.aspx

Realistically, even without the 2018 cutback on banking regulations, there would only have been at most 1 stress test in which SVB's shaky fundamentals would have been noticed - and even that would only have happened if the stress test had included a scenario of sudden, runaway inflation and correspondingly aggressive interest hikes by the FED - a scenario which seemed completely outlandish less than 2 years ago.

This post was edited by Black XistenZ on Mar 15 2023 11:53pm

or more to the point, a scenario which the fed themselves labeled completely outlandish last year, even as we were in the midst of that 'transitory' inflation

That's one of those things about dogmatic macroeconomics, they aren't testing for scenarios they deny will ever happen

doesn't even matter how often you get debunked, huh? you just keep repeating whatever tucker tells you...

https://forums.d2jsp.org/topic.php?t=100020752&f=119&p=641633921

you should know by now, that fenderp never changes his mind once the "verdict" is in, no matter how many facts you present

Eh, if my memory serves me right, they said inflation was gonna be transitory and that interest rate hikes would not be needed, but they didn't rule it out or call it outlandish either.

A bunch of banks are sending out letters to people telling them how secure they are and don't worry about SVB collapsing.
They're panicking if they're trying to stop bank runs.

Private Banks should not pump it on national/people budget when failing...