Comments by "" (@TheDavidlloydjones) on "Tom Nichols: Our Fatal Complacency | The Bulwark Podcast" video.

Tom Nichols is delusional about SVBank. They weren't "woke," they were simply very bad managers. They didn't invest in trout farms or anything trendy on what Nichols thinks is "left." (Trout are about as right a fixation as any hobby of the wealthy could get.) SV Bank was invested up the gazungus in Treasury paper, mostly long bonds as low rates, so they were caught on the long-short and they were caught on the one thing that is, contrary to Nichols, knows since Adam Smith: when interest rates go up market prices of fixed-rate paper go down.
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