Wonder what year that massive spike is. Oh no, can't zoom in on mobile! Guess I'll have to check later on my desktop, if I remember. Until then, it is a mystery.
Bank Failures Visualized
211–220 of 424 posts
Re: Bank Failures Visualized
#212Wonder what year that massive spike is. Oh no, can't zoom in on mobile! Guess I'll have to check later on my desktop, if I remember. Until then, it is a mystery.
I can zoom in on an iPhone.
It’s 2008/2009
Re: Bank Failures Visualized
#213The "Bank failures" title is misleading, when only FDIC banks failures are included.
Re: Bank Failures Visualized
#214And now that the fed said they will only "fully" back depositors in large banks that go under, there will be even more consolidation, so the next crash can consist of just one huge circle that acted gregariously and irresponsibly before its collapse, but no one could do anything because of its size.
What makes this even worse, is that Yellen would have lost nothing had she said they would back every bank and not just large banks - small bank failures are just not that common, and the risk is low, (and can be walked back in two years when the tension lowers).
Even worse, well over half of the SVB bailout went to IMO, they should have raised the amount that FDIC is insuring, which is unquestionably too low. [They still should do that.] They then should have insured everyone equally up to that point. And if Circle and Roku would lose 90% of their value from such a move, that beats the whole banking system consolidating into one or two massive players that can act with impunity.
OK, I am not an economist, and admit that I probably don't know what I am talking about, but HN is full of smart people with domain knowledge. Please (gently) broaden my perspective.
Re: Bank Failures Visualized
#215Earlier quoted context omitted.
The last time anything like that happened was what, over a decade ago? People forget (for real). Also, no one seems to have lost a dollars yet in this crisis (on the depositor side), so hard to say anyone ‘lost’ this time either.
Doral Bank failed in 2015, so 8 years? Not quite 10. The GFC was 2008 which was 15 years ago though but people still remember that one. Even though the FDIC chose to make depositors whole for SVB, Signature, and FRC, there's no written legal guarantee that they'll keep doing this, so in the face of that, I don't think people are forgetting the $250k FDIC limit. Anyway, my point is no one's walking up and down Main St…
oh, I don't know. Lots of people walk up and down main street. No one I know keeps more than $250k in any given bank under the same name. Obviously having LLCs, wives and children etc let you spread things out in the same bank. I had to wait 10 months in 2008 for FDIC to make me whole when a local bank I had most of my savings in at the time went under. Most people have a living memory of that.
Also, I have 8 accounts at 6 different banks and I'm not even worth $1m so I can't imagine it's too hard for someone worth $10m to figure this out.
Re: Bank Failures Visualized
#216Would be slightly more insightful if it was inflation adjusted. The circles on the right should be ~30% smaller.
And if the circles’ areas, not their radii, were the failed assets. As it is, a circle’s apparent size (we judge 2D shapes by their area, not any one linear dimension — although this is difficult to do in practice, and linear marks are generally superior) is the failure size squared , which distorts the data a boatload. Here is a, er, more faithful representation of the data. The recent failures don't look quite so c…
That's a log scale...
Re: Bank Failures Visualized
#217Earlier quoted context omitted.
I have also built an alternative as a stacked bar chart https://observablehq.com/@mjbo/bank-failures-as-a-stacked-ba...
The circle version is terrifying. The stacked bar chart is even more terrifying.
Right, it makes me wonder whether we are really good at looking at areas or not.
Re: Bank Failures Visualized
#218Earlier quoted context omitted.
it doesn’t and that wasn't the premise of why we can acknowledge that using that payment network saved everyone time in the clawbacks, despite the shaken confidence that the exact same event caused into that payment network the main distinction involved here is that not knowing who to subpeona for records slows down everything, whereas with the blockchains used most of the participants consolidate funds into KYC’d ex…
In other words, blockchains make it easier to track what we are doing with our money, without the justice system being involved, and that’s somehow good.
the blockchains that were used, as I wrote with high intention and precision because there are other blockchains that don't offer that transparency
and then it comes to how they were used to leverage that capability, because people were not seeking to obfuscate or hide anything
if that's your actual goalpost, then don't worry, "they were holding it wrong" and you can hold it correctly to fit your needs
Re: Bank Failures Visualized
#219Earlier quoted context omitted.
for me its more about how much this mismanaged business shook confidence in "crypto", instead of just this mismanaged business - the way we would judge any other sector. while the crypto aspect is helping resolve this far faster than other insolvent schemes of similar size and magnitude. and Sam Bankman Fried is not involved in that. yes, Sam did that elaborate thing, the people recovering and the bankruptcy court ar…
It really didn’t though. Crypto is the never ending, infinite ponzi. It’s unshakable, unsinkable. The hype is real. What Sam did was elevate things. Anyone can run a crypto scam. Literal kids do it. But to create art is something else. Something more human. Something timeless. SBF is perhaps the ultimate use case for crypto. I had about $100 in FTX. Worth it. Totally worth it. I’m stoked for the Coinbase collapse. My…
okay I can play along
I just want my Coachella 2022 NFT, wen bankruptcy judge do something
Re: Bank Failures Visualized
#220And now that the fed said they will only "fully" back depositors in large banks that go under, there will be even more consolidation, so the next crash can consist of just one huge circle that acted gregariously and irresponsibly before its collapse, but no one could do anything because of its size. What makes this even worse, is that Yellen would have lost nothing had she said they would back every bank and not just…
> Even worse, well over half of the SVB bailout went to Do you have a source for this?