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2023-03-12

Summers “I don’t think this is a time for moral-hazard lectures” Silicon Valley Bank

Former Treasury Secretary Lawrence Summers “I don’t think this is a time for moral-hazard lectures or for talk about teaching people lessons,” 

The Federal Deposit Insurance Corp only insures bank deposits of up to $250,000. But a large share of the money deposited at SVB was uninsured: more than 93% of domestic deposits as of Dec. 31, according to a regulatory filing.

“There are dozens, if not hundreds, of startups that were planning to use that cash to meet their payroll next week,”  “I don’t think this is likely to be a broadly systemic problem.” 

Bloomberg 11 March 2023

https://www.bloomberg.com/news/articles/2023-03-11/summers-warns-consequences-severe-if-svb-deposits-not-released


SVB Fallout Spreads Around World From London to Singapore

SVB’s collapse has led to cash crunch for startups globally

Bloomberg 11 mars 2023

https://www.bloomberg.com/news/articles/2023-03-11/svb-fallout-spreads-around-the-world-as-uk-firms-plea-for-help


British tech firms caught up in bank collapse could be bailed out, PM says

Treasury 'working at speed' to ensure cash flow for bank's customers

Telegraph 12 March 2023




If there are No SVB Bailouts, Will There Be Financial Armageddon?

Bill Ackman wants bailouts of Silicon Valley Bank, theorizing massive repercussions if not. 
I expect some haircuts, then the world will go on.

Mish 12 March 2023



Federal Reserve has encouraged moral hazard on a grand scale

Jonathan Tepper, FT 13 April 2020

https://englundmacro.blogspot.com/2020/04/federal-reserve-has-encouraged-moral.html


Moral Hazard atI IntCom

https://internetional.se/moralhazardwsjled0925.htm


Silicon Valley-banken SVB är den största att gå omkull i USA sedan finanskrisen 2008. Sparekonomen Frida Bratt tycker dock att det är för tidigt att utropa nästa kris.

– Det är stort och skapar stor nervositet för att andra banker ska dras med. Men jag tycker att man ska försöka lugna sig lite innan man ropar att en ny kris är här, säger sparekonomen Frida Bratt.

DN 11 mars 2023

https://www.dn.se/ekonomi/sparekonom-for-tidigt-att-utropa-ny-kris/


– Det är lätt att känna att man vill trycka på säljknappen, men risken är då att man inte riktigt kommer in igen, säger Nordnets sparekonom Frida Bratt.

SvT 24 januari 2022

https://englundmacro.blogspot.com/2022/06/frida-bratt.html







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