First SVB was effectively insolvent way before they had a run. There are many other bank with the same problem.
Not having to mark to market doesn’t make you any less insolvent it just makes you a zombie bank
Better said here than me: https://twitter.com/squawkcnbc/status/1636705550237851648?s=...
First SVB was effectively insolvent way before they had a run. There are many other bank with the same problem.
Not having to mark to market doesn’t make you any less insolvent it just makes you a zombie bank