Episode 322: A Smorgasbord of Topics
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The Implications of the Silicon Valley Bank Meltdown
The Pacific Western Bank in California saw customers withdraw 20% of their deposits, which meant that the bank had to turn to the Fed. San Francisco has done it, Madison, Wisconsin has done it. New York, Massachusetts, Vermont, New Jersey are all contemplating the same sort of thing on the state level. What's really going to happen here is that a bunch of people who have made good choices are going to end up paying for people who have make bad ones.
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