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by nostromo
1190 days ago
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No, it’s the same. SVB made bad bets and mismanaged risk. These firms should fail to make room for better firms. And people that work with mismanaged firms will often take a loss, often via bankruptcy. Startups liked SVB because they would take risks big banks wouldn’t. Well risk comes at a cost. The government’s role here isn’t to make everyone whole. It’s to prevent contagion. |
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