Like most days lately, I don’t foresee a lot of time today for blogging. So I’m just going to offer this, which I tweeted yesterday, as a topic for discussion:
I see story after story after story about this Silicon Valley bank problem, the one that’s been calmly dealt with. But the stories go on. I hate to say it, but I have to wonder, are my friends in the media and panicky stock traders TRYING to kick off a national banking crisis? pic.twitter.com/UcmCmvInro
— Brad Warthen (@BradWarthen) March 13, 2023
About the time I posted that, I was somewhat comforted by the fact that the hourly NPR news summary started with this, far more consequential, story. Of course, the second story was further yammering about the banks.
Then, this morning, I was really dismayed to see the first screen of my Washington Post app covered with additional headlines about the banks.
We’re not having a general run and a national economic collapse yet, but keep pushing, everybody. Maybe if you keep trying, you can make the average person nervous enough…
Stop me if you’ve heard this joke before.
Question: How does one make a small fortune?
Answer: Deposit a large fortune in Silicon Valley Bank.
Peter Thiel had $50,000,000 in deposits at SVB.
https://www.businessinsider.com/peter-thiel-had-money-in-silicon-valley-bank-collapse-report-2023-3?amp
That’s $50 million less that wont’ go to republicans who believed the election was stolen – as Thiel has a habit of funding.