Why Silicon Valley Bank Is a Good Place to Start

There are real consequences, not just a family pocketbook things, there are real consequences to an economy when you have high inflation. And this would, but for high interest rates, this would not have happened. If it had happened more slowly, they would have been selling off the T-bills at normal pace and it would have been fine. I think that it's very clear that Silicon Valley Bank had some bad policies. The semaphore reporting that Jonah mentioned, especially is a pretty big deal and something that we need to learn more of.