The FDIC's "Stress Tests" Aren't Kicking This Out Look

I don't think this is likely to be a broadly systemic problem but it certainly is going to have very substantial consequences for Silicon Valley. There are important lessons for how we regulate what roles we use for market values in regulation that need to be learned from this experience. Larry also got jobs numbers out on Friday this week and they were more robust once again than expected 311,000 new jobs at the same time the rate of wage increase actually came down just a little bit.