@DavidSacks
That's exactly what we have -- we all realize it. There are multiple tiers.
SVB successfully lobbied hard in 2018 to be excluded from systemic tier with largely R and Trump support - some Dems too.
Then they went wild. Reap what you sow, and yes it sucks.
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The Fed may or may not realize it but it has created a two-tier banking system:
1. Tier 1: Systemically Important Banks. These are the "too big to fail" biggest banks. If you have money there, it's a true deposit. You can't lose it.
2. Tier 2: Everyone Else. If you have money…
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@pondermint
@DavidSacks
Add to that, VCs forced their portfolio companies to keep their cash at SVB. Why? Seems complicit in the failure to me
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@pondermint
@DavidSacks
Would you mind elaborating on this? Are they outside of some regulations?
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@pondermint
@DavidSacks
Then this may be the ONLY thing that the new admin didn't roll back. Ask yourself 'why'?
Calling it D or R is naive. This is the unitparty in action.
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