He's not wrong. SVB's own mismanagement caused SVB's downfall. If 99% of your deposits are cryptobro money, you should diversify a quarter of it into pharmabro money. And so on. I understand they had 20 billion in losses due to holding long term bonds, they should have been shifting that away, and ringing up the White House the second it became an issue. This should have been a 20 billion dollar kitchen fire, not the whole regional banking 620 billion dollar neighborhood fire.

He's not wrong. SVB's own mismanagement caused SVB's downfall. If 99% of your deposits are cryptobro money, you should diversify a quarter of it into pharmabro money. "Hey buddy, I've got all my eggs on cash from the crypto people, and you've got alot of cash from the pharma people, lets do a swap so one of us doesnt collapse suddenly when our sectors go down. I'll take a 10% loss to do the swap." And so on. I understand they had 20 billion in losses due to holding long term bonds, they should have been shifting that away, and ringing up the White House the second it became an issue. "Hey, there's a run on our regional bank, we need cash before everyone starts taking their money out of all the banks." This should have been a 20 billion dollar kitchen fire, not the whole regional banking 620 billion dollar neighborhood fire.

He's not wrong. SVB's own mismanagement caused SVB's downfall. If 99% of your deposits are cryptobro money, you should diversify a quarter of it into pharmabro money. And so on. I understand they had 20 billion in losses due to holding long term bonds, they should have been shifting that away, and ringing up the White House the second it became an issue. This should have been a kitchen fire, not the whole regional banking neighborhood on fire.