SVB does not deserve a bailout.
— Alf (@MacroAlf) March 11, 2023
A deep look at their financial statement reveals how horrific they were at risk management.
And in my opinion incompetence explains only part of it.
Moral hazard must have been at play.
A thread.
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"The free market is a jungle, it’s beautiful and brutal and should be left alone. When a business fails it dies and a new better business takes its place. The government should not prop up a failed business that would be like giving food to a mortally wounded animal instead of slitting its throat and properly utilizing its meat and pelt."
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