Lol, i can't believe what i just read, this leaves me speechless, the audacity
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61–70 of 864 posts
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#62LOL, nope. Not interested in taking another spin on the “privatize gain, socialize loss” merry-go-round. The banks had to be saved in 2008 because they were, like, the financial system. I don’t see why private companies and funds that are much less integral to the functioning of the economy as a whole should be saved by the public fisc. Sorry about your disruption.
Are you saying if I deposit more than $250k (which is NOT a lot for a business) into a reputable and regulated US bank at negligible rates of interest I should just accept the impact of the bank shutting down due to events unrelated to my actions and choices? And that my deposit should vanish into thin air?
You don't lose everything, only a percentage based on what the FDIC isn't able to recover after the sale of all assets.
And - yes.
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#63Where was YC when SVB lobbied against stronger regulation so they could take more risk? Crickets. Edit: Sources in my other comment https://news.ycombinator.com/item?id=35114110
Source for SVB lobbying against banking regulations?
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#64Earlier quoted context omitted.
Imagine half of your vendors/customers are insolvent. Is this good?
Of course, many startups' customers are not other startups.
In YC it often is. You are almost expected to prop up other YCs companies with your funds. If everyone buys each others services everyone can show their super duper growth and nobody lost anything (except VCs who invest later).
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#65Should have started with “ We are not asking for a bank bailout. ”
Edit: my opinion reversed. I actually with the replies here. It is effectively what YC is asking for. It’s a matter of choosing who suffers: investors or private home buyers? Because Mortgage Backed Securities have been screwing individual home buyers for years.
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#66Re: Urgent: Sign the petition now
#67LOL, nope. Not interested in taking another spin on the “privatize gain, socialize loss” merry-go-round. The banks had to be saved in 2008 because they were, like, the financial system. I don’t see why private companies and funds that are much less integral to the functioning of the economy as a whole should be saved by the public fisc. Sorry about your disruption.
Government interference in the economy is bad*
*Unless it's to bail me out.
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#68I saw a claim go by on Twitter that (some?) VCs required their companies to bank with SVB. Frankly, the thread it’s in feels a little histrionic, and I hesitate to believe it. But surely someone here on HN can confirm/deny?
Source: https://twitter.com/bhargreaves/status/1634245405205471245
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#69Wasn't more unemployment a goal to combat inflation? So wouldn't it be good thing for bigger economy that some jobs were now lost. Thus push inflation pressure lower? Meaning that any sort of action really shouldn't be taken for greater good of economy.
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#70LOL, nope. Not interested in taking another spin on the “privatize gain, socialize loss” merry-go-round. The banks had to be saved in 2008 because they were, like, the financial system. I don’t see why private companies and funds that are much less integral to the functioning of the economy as a whole should be saved by the public fisc. Sorry about your disruption.
What socialized loss are you talking about? This seems like TARP, which was a huge gain for taxpayers.