When bankers blow their businesses up, it’s no-questions-asked bailout time. When student borrowers need relief, not so much.
banking
Posted inEconomic Policy
Rich Bank Dumb Bank
Was Signature, the other bank in the Great Panic of 2023, a failure or a patsy?
Posted inPodcasts
The SVB Collapse
Skanda Amarnath explains why Silicon Valley’s favorite bank imploded.
Posted inEconomic Policy
David Sacks Justifies Bailout by Highlighting Elite Private Boarding School
Claiming that a failure to guarantee all Silicon Valley Bank deposits would hurt ‘mom-and-pop’ businesses, Sacks then chose the worst possible example.
Posted inEconomic Policy
The Systemic Risk of Big Accounting
Auditors are supposed to be the first line of defense against corporate fraud. Where were they before the SVB collapse?
Posted inEconomic Policy
The Fed’s Silicon Valley Bank Cover-Up Won’t Work
Supervisors are trying to claim that they warned the bank about its riskiness. But the central bank willingly weakened its supervisory operation.
Posted inLaw and Justice
Former Wells Fargo Exec Could Do Prison Time
Does the plea bargain by Carrie Tolstedt, who led Wells’s corrupt fleecing of customers, suggest a belated criminal crackdown on corporate crooks?
Posted inEconomic Policy
If at First You Don’t Succeed on Executive Compensation …
Try, try again. Here’s the epic saga the Biden administration wants to add to.
Posted inPolitics
The Real Goal Behind the Frenzy Against ‘Wokeness’
Get rich by getting the rubes mad.
Posted inTAP
Powell on the Ropes
Today on TAP: A prime casualty of the crisis set off by the failure of Silicon Valley Bank could be Fed Chair Jay Powell—all too appropriately, and none too soon.
