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The best explanation for why SVB failed I’ve read is here.

The bottom line is that as interest rates rose after they’d been low for a long time bonds, including Treasuries, lost value putting strain on balance sheets, and if a bank didn’t handle it right by making the correct bets, they could get slaughtered. Even so SVB might well have survived in a pre-internet banking era and/or if it didn’t have so few depositors, with so many of them depositing so much.

As at the end of 2022, it had 37,466 deposit customers, each holding in excess of $250,000 per account. Great for referrals when business is booming, such concentration can magnify a feedback loop when conditions reverse.

When the likes of Kissinger are accused of being compromisers, we can be certain that the political discourse on the war has reached a degree of extremism unprecedented in decades.

The post Even Kissinger Wants Compromise: How Ukraine Became a Winner-Take-All Proposition appeared first on MintPress News.

Twenty years on from the US invasion, Lorraine Mallinder assesses the ongoing political struggle against corruption and talks to those exposing it

 Monetarists….  😂😂😂😂😂😂😂

Jerome Powell testified in front of the banking committee this week.

COMMITTEE: “Do you see any systemic risk in the banking system because of the rapid rise of interest rates?”

POWELL: “No”

🥴

— Genevieve Roch-Decter, CFA (@GRDecter) March 12, 2023

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Careers stall due to laziness, a lack of new job skills, or a refusal to remove that therapy mushroom farm you’ve been growing at your desk. Working harder or going back to school are fine for people with grit or wealthy parents. But this odd obsession with fungi has become a metaphor for your career. You’ve attached yourself to a host workspace. You’re growing out of this company. And at some point, we’ll need to extricate you so we can have that desk back.

Emulate Young People

Getting to know young colleagues can be intimidating to those suffering through late-stage career malaise, with their perkiness and ideals and odor-free nuance. They smell like success instead of mildew and earthworm. They have fancy vests and have not been warned repeatedly by the Ergonomics Division about toxic molds infesting the air ducts. Young people have one thing in common. None of them spend the day going desk to desk, hawking oddly shaped spores to fellow employees. Just stop it and get back to work.

 

Pretty good breakdown:

If youre a big firm you’re going to have to get all your USD to a 100% govt money market fund and establish your own credit union staffed by your own people for the firm to use for payroll and current accounts payable/receivable... US banking system completely unusable with these Art degree monetarist morons trying to operate it…

Professional athlete Ricardo Dos Santos recalls his experience of discriminatory policing last year in London

By Mondoweiss On January 26, 2023 the Israeli army conducted a deadly invasion into the Jenin refugee camp in the occupied West Bank. In the span of a few hours, the army shot and killed 9 Palestinians. A 10th Palestinian succumbed days later to wounds sustained during the raid. It was one of the deadliest […]

The post On The Brink: Jenin’s Rising Resistance appeared first on scheerpost.com.

Russell Brand’s grim trajectory shows us where politics is heading By George Monbiot, published in the Guardian 10th March 2023 In 2014, the Guardian asked me to nominate my hero of the year. To some people’s surprise, I chose Russell Brand. I loved the way he energised young people who had been alienated from politics. […]

Most patients have no means of avoiding the burdensome process that has become a defining feature of American health care. But even those who have the time and energy to fight back may not get the outcome they hoped for.

The post Doctor Who Magazine Special: Showrunners appeared first on Doctor Who Magazine.

Legions of European businesses are succumbing to the final straw of Europe's largely self-inflicted energy crisis. 

How the criminal legal system slammed two Black men for standing up to white supremacist guards in an Indiana prison.

The post These Men Fought White Supremacists and Got Sentenced to Over 200 Years appeared first on scheerpost.com.

Rather than offering wages attractive to adults, there is an unconscionable push to bring back child labor.

The post Employers Want to Bring Child Labor to Some of the Most Dangerous Jobs in the Country appeared first on scheerpost.com.

Undersheriff April Tardy says her ankle imprint shows allegiance to her former station. Deputies say it represents a deputy gang.

The post Los Angeles Sheriff’s Second-In-Command Has Alleged Gang Tattoo appeared first on scheerpost.com.

The French artist Alain Biet’s ‘visual symphony of everyday objects’ celebrates human ingenuity by mining magic from the mundane

- by Aeon Video

Watch at Aeon

Stalin presented Orthodox leaders with a proposal: the Soviet state that had destroyed their Church would bring it back

- by Kathryn David

Read at Aeon

As a psychiatrist I am extremely wary of even the most careful provisions of assisted dying for people with mental illness

- by Marie Nicolini

Read at Psyche

An over-zealous Fed pushed a few banks, including the big and super connected Silicon Valley Bank, over the edge. A bailout was a given.

. I had learned to do integrals by various methods shown in a book that my high school physics teacher Mr. Bader had given me. [It] showed how to differentiate parameters under the integral sign – it’s a certain operation. It turns out that’s not taught very much in the universities; they don’t emphasize it. […]

We're going to need a bigger jail.