“That’s how capitalism works”!!
Has he been scrolling r/antiwork and r/collapse, signing in at the Bear of Hex, keep a copy of the Communist Manifesto bedside?
Is this just a joke?
On a serious note, if it’s not, how far are the puppets in government prepared to go in what could be a cataclysmic moment of comeuppance for the Economic Terrorists of Wall St?
Yeah I should have proofread that before I posted. Hopefully this one’s not got a bigass idiot error in it.
Broadly speaking though it does cover investors. The same companies pumping vc money to startups with the stipulation that it be held in svb were investing in svb. That’s why they didn’t push ics (not that anyone (1) does) or payroll management or anything on these absolute buffoons getting free money to have adult daycares.
So they end up buying assets at a discounted price and use that to turn their lost investment into a haircut. One side of the straddle, if you can call it that, idk what the real word for that investment strategy is, is accounted for and oh look, they get to keep riding the ten wagers on black they had going too, all courtesy of the us government’s largesse, saving the hardworking job creators at “Uber for pet rentals”.
(1) I don’t even have enough to worry about it and an ics equivalent was offered me by the bank. Two small businesses I’ve worked for I know for a fact we’re covered by similar schemes. It’s always surprising when the accepted wisdom is that no one worries about that stuff although I imagine after this shakes out no one really ever will again.