Silicon Valley Bank and the Regulators
One question that has come up is whether this was a failure of regulation. Stanford Prof. John Cochrane is a proponent of this idea. I don’t find his arguments persuasive. Continue Reading →
One question that has come up is whether this was a failure of regulation. Stanford Prof. John Cochrane is a proponent of this idea. I don’t find his arguments persuasive. Continue Reading →
On March 10, Silicon Valley Bank was closed by the FDIC. The main cause was an incompetent management team that wasn’t interested in banking. Continue Reading →
The media has (naturally) focused on pornography. But take a close look at that list. Ammunition and firearm sales? Government grants? (You would think the relevant government agencies would be on top of that, but apparently not.) Pharmaceutical sales? Money transfer networks? (You mean like PayPal, Western Union, and, perhaps, FedWire and the SWIFT system?) Tobacco sales? And (my personal favorite) Racist materials. In other words, a bank can reject your application for a checking account for just about anything they want. Personally, I have several prescriptions that keep me relatively sane, happy, and alive. I would hate to think that my healthcare provider would not be able to sell me pharmaceuticals because their bank would not let them. Continue Reading →