When banks are too big to fail, their capacity for stupid behavior is greatly increased.
banking
Posted inEconomic Policy
Powell Blocked Mentions of Supervisory Failures From Bank Rescue Statements
The Fed chair resisted mentioning supervision, regulation, or accountability after the collapse of Silicon Valley Bank. His resistance delayed the announcement.
Posted inMoney, Politics, and Power
Silicon Valley Congressman Fundraising With Whiny Venture Capitalist
Rep. Ro Khanna, who stumped aggressively for a depositor bailout at Silicon Valley Bank, now will solicit funds with David Sacks, one of the loudest supporters of that policy.
Posted inTAP
Elizabeth Warren’s Moment (Again)
Today on TAP: Nobody understands or explains the corruption of the financial system better than the Massachusetts senator.
Posted inEconomic Policy
Bank Crisis Reveals Numerous Federal Reserve Failures
Bad financial supervision, a panicky response, and now the Fed has created a trigger policy for more inflation.
Posted inEconomic Policy
Behind the Venture Capitalist Bailout
Financial expert Daniel Davies explains why Silicon Valley Bank imploded.
Posted inEconomic Policy
The Case for a Banking Public Option
Every individual and business should get the same Federal Reserve account benefits that banks enjoy.
Posted inTAP
The Reputational Casualties of SVB’s Collapse
Today on TAP: Silicon Valley libertarianism, every congressional Republican, 50 congressional Democrats—and why are some still sitting on the banking committees?
Posted inEconomic Policy
The Economy Could Not Exist Without Government
The Silicon Valley Bank collapse exposes a reality that rich people would prefer to ignore.
Posted inEconomic Policy
There Are Worse Things Than Mild Inflation
A shaky banking system, for one. A failure to comprehend how the climate crisis raises prices, for another. Will the Fed continue to compound the damage?