Crutonius
Member
And 5 years ago he was the 57th.
Just saying...
To be clear I think we agree more than you might realize.
I believe we are both fully on board with Elon selling some more TSLA to buy another failing business.
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And 5 years ago he was the 57th.
Just saying...
Good thread on the role social media, including twitter, played in SVB's downfall. Just another reason why control of twitter is strategically important.
For those living on a round planet…
Silicon Valley Bank collapse puts new spotlight on Trump banking law
The fight over the 2018 law
Five years ago, Warren was the most outspoken opponent of the Republican-led Congress' push to undo regulations imposed under the 2010 Dodd-Frank law for small and midsize banks. The bill, led by Sen. Mike Crapo, R-Idaho, sought to reclassify the "too big to fail" standard, which came with enhanced regulatory scrutiny. By raising the threshold from $50 billion in assets to $250 billion, medium-size banks were exempted from those regulations.
“Had Congress and the Federal Reserve not rolled back the stricter oversight, S.V.B. and Signature would have been subject to stronger liquidity and capital requirements to withstand financial shocks,” Warren wrote Monday. “They would have been required to conduct regular stress tests to expose their vulnerabilities and shore up their businesses. But because those requirements were repealed, when an old-fashioned bank run hit S.V.B., the bank couldn’t withstand the pressure — and Signature’s collapse was close behind.”
To be clear I meant the person with the account I linked, not Elon.I don't know if he is a white supremacist. He is in the mold of a man who thinks he is a god and towering above the rest of humanity. Richie Rich.
That just means he did a great job at preparing to set cash on fire.Right, he's so good at setting cash on fire that he's currently 2nd richest man on Earth...
I feel you. For me, Elon's luster has been losing it's shine since the whole cave rescue incident, continuing on a steady glide path to insanity.It's gotten too dark for me. I'm quitting Twitter. Hope someone will move to oust Elon from Tesla. Not sure if to start divesting myself of Tesla shares. I'd rather Tesla divest itself of Elon. As someone mentioned above, it's almost as though he's been asking to be fired. Personally, I've already lost all the joy I use to have from being all in on Musk Enterprises. Wish I'd sold my car at last year's peak.
I would go so far to say that Tesla is noticeably doing better since Elon has been mostly distracted by Twitter. Holiday Update that was actually the first in 2 years that mostly improved things instead of taking things away, a round wheel option for S/X, etc. He really needs to go.I feel you. For me, Elon's luster has been losing it's shine since the whole cave rescue incident, continuing on a steady glide path to insanity.
I used to be super excited to watch/listen to his presentations. Now his big insights have become mote and mundane as he seems to think he's espousing these hugely insightful ideas, but he's been saying the same thing for a decade now. So now I sit and wait for the next thing to cringe at.
I used to follow every tweet. I didn't (and still don't) get most of his humor, but even then, it was clear that he was simply re-posting someone else's meme and not generating new funny content.
Then I unfollowed him and now I've got him on mute, because the only thing that bubbles up to my feed lately is the latest crazy thing he's posted his $2B on, claiming it's "Worrisome" or "Indeed" or "Very concerning" or "Yeah" without having done any research on the actual topic to find out if it's even worth replying to. And if he had spent 2 seconds researching it, he'd realize it's just noise to ignore.
Which is what most of Twitter is if you don't curate who you follow, mute and block carefully.
Has Elon improved Twitter in any meaningful way? I can't say that he has. But he has further tarnished his reputation and by association, the companies he leads.
That said, Tesla and SpaceX are both doing great things. But at this point I think it's in spite of Elon, and not because of Elon. I loved seeing more of company speak at the last investor day event. And I hope that continues to happen, and Elon fades into the background.
Tesla still sits at the top of the my automobile shopping list. The ironic thing is that Tesla opening up it's Supercharger network to other CCS vehicles will be the thing that finally gets me to seriously consider another brand of EV.
It's gotten too dark for me. I'm quitting Twitter. Hope someone will move to oust Elon from Tesla. Not sure if to start divesting myself of Tesla shares. I'd rather Tesla divest itself of Elon. As someone mentioned above, it's almost as though he's been asking to be fired. Personally, I've already lost all the joy I use to have from being all in on Musk Enterprises. Wish I'd sold my car at last year's peak.
Bank Policy Institute analyzed SVB's books and says they would have passed the pre-2018 stress test. SVB's main problem was a simple duration mismatch that one bank exec I heard said "an 11 year old who plays a lot of Monopoly could have caught". Regulations don't really help when regulators fail to exercise basic common sense.For those living on a round planet…
Silicon Valley Bank collapse puts new spotlight on Trump banking law
The fight over the 2018 law
Five years ago, Warren was the most outspoken opponent of the Republican-led Congress' push to undo regulations imposed under the 2010 Dodd-Frank law for small and midsize banks. The bill, led by Sen. Mike Crapo, R-Idaho, sought to reclassify the "too big to fail" standard, which came with enhanced regulatory scrutiny. By raising the threshold from $50 billion in assets to $250 billion, medium-size banks were exempted from those regulations.
“Had Congress and the Federal Reserve not rolled back the stricter oversight, S.V.B. and Signature would have been subject to stronger liquidity and capital requirements to withstand financial shocks,” Warren wrote Monday. “They would have been required to conduct regular stress tests to expose their vulnerabilities and shore up their businesses. But because those requirements were repealed, when an old-fashioned bank run hit S.V.B., the bank couldn’t withstand the pressure — and Signature’s collapse was close behind.”
Bill Maher had a good bit about the Tucker Carlson footage that Elon liked so much:CNN fact checking Chuck Callesto who got amplified by Elon. ("A comedian, not Antifa.").
The 2018 banking law is still highly relevant to SVB because SVB was one of the banks that was pushing for it the hardest. But yeah, the fact that regulators ignored interest rate risk makes me wonder exactly what the regulators were doing. Were the regulations inadequate as written, were the regulators just incompetent in how they interpreted them, or both?Bank Policy Institute analyzed SVB's books and says they would have passed the pre-2018 stress test. SVB's main problem was a simple duration mismatch that one bank exec I heard said "an 11 year old who plays a lot of Monopoly could have caught". Regulations don't really help when regulators fail to exercise basic common sense.
Then I unfollowed him and now I've got him on mute, because the only thing that bubbles up to my feed lately is the latest crazy thing he's posted his $2B on, claiming it's "Worrisome" or "Indeed" or "Very concerning" or "Yeah" without having done any research on the actual topic to find out if it's even worth replying to. And if he had spent 2 seconds researching it, he'd realize it's just noise to ignore.