Doug Belter

@adam_menszer Look at you dropping some Bears knowledge!

Mike Singletary, Brian Urlacher, Charles Tillman

@TerraceResearch @wesbury They most certainly had a Birds Eye view, but they also appeared have a view into knowing they would be bailed out.

@wesbury Thx for the post. If SVB is an interest rate problem, I don't understand how they mismanaged this with their CEO sitting on the board of directors at the SF Fed. Shouldn't they have had a birds eye view into the Fed's higher for longer strategy?

SVB is not an example of the failure of mark-to-market accounting (MTM)…it is a failure of regulators and of federal reserve policy. 1) The US did not have MTM from 1938 to 2007…until the late 1970s when Fed policy failed miserably, there were no real banking panics or failures. 2) 2008-09 was a credit problem…MTM failed because it forced banks to mark to the worst-case models of completely illiquid market prices. 3) SVB was an interest rate problem…simple math. Any regulator or rating agency should have seen it. Any analyst who read SVBs regular filings should have seen it. 4) SVB could have hedged its risk, and didn’t. MTM market accounting would not have changed anything except maybe the timing, but even that may not be true. 5) Putting MTM back in place might take this interest rate problem and spread it into other areas of the banking system - turning a fire into an inferno. 6) The real problem these days is the Fed’s abundant reserve monetary policy and too much government debt with nowhere to go.

@dailydirtnap I love the Mike Tyson Punch-out reference

I'm triple vaxxed AND had Covid while I was vaxxed, so I have natural immunity to boot. With these Glass Joe variants coming out, I think I'll pass on this next incarnation of the vaccine.