MyNameIsFred

  • 2 Posts
  • 11 Comments
Joined 1 year ago
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Cake day: June 8th, 2023

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  • From my perspective as a user that has been on reddit for a while, its been on a downhill slide for a long time now. The moderation mechanisms there are really becoming the downfall. Its like police or politicians, the position attracts the very qualities that would make you unsuitable for such authority.

    I am also unsure what most of the 2000+ employees do, because by all accounts they are generally unresponsive to both users and mods alike when they reach out. This is as true now with the API stuff and small devs not getting traction to work with them, as it has been in the past and was a major reason there was backlash when Victoria was let go.







  • I agree with most of what you said. I would say classifying SVB as a seizure is probably not accurate. The FDIC only came in when it was clear SVB was going to fold and in fact insured far more than the 250k per account guaranteed. Mainly to try and stem a run on midsize banks because

    1. Many companies had large holdings, undiversified in these banks

    2. The banks were borderline negligent with how they handled those deposits, sticking them all in “safe” government bonds that ruins liquidity.

    Once the interest rate on the bonds was lower than the base borrowing rate, no one would buy the bonds instead of just buying new bonds with a much higher guaranteed return.

    So, given that, I would say the FDIC instead bailed out the banks. Something they would never do for you or I, or even a business with similar valuation as any of the banks customers.