This is a tweet from January.

Markets are usually efficiently priced. But not always.

The government’s approach to the SVB situation was the most pragmatic one that I can imagine. They wiped out equity and bond holders to pay depositors, and did it quickly.

The real problem would come if more banks collapse and their depositors don’t get the same white glove treatment as the Silicon Valley oligarchs.

Truth Social is embarrassing.

KPMG Gave SVB, Signature Bank Clean Bill of Health Weeks Before Collapse

https://archive.ph/8EeGH#selection-115.5-118.0

Companies acted with extreme negligence when they piled all of their money into Silicon Valley Bank. Often times, they did so because of covenants that came from their VC funders, who were getting kickbacks in the form zero interest mortgages and other perks.

Over the past decade, Silicon Valley’s political influence has grown to become even more powerful than that of Wall Street. So it’s only fitting that like Wall Street, their losses are socialized, while their billions of dollars in upside remains untouched.

‘Watershed’ $1 trillion defense budget on the horizon

https://rollcall.com/2023/03/14/watershed-1-trillion-defense-budget-on-the-horizon/

Lindsey Graham on the encounter between a US drone and Russian planes: "What would Ronald Reagan do right now? He would start shooting Russian planes down if they were threatening our assets."

https://fxtwitter.com/atrupar/status/1635810523534045190

In reality, much like Trump, Reagan always offered a lot of bluster in situations like this, but provided very little in the way of meaningful action.