The US Federal Reserve printed $300 billion in a week to save collapsing banks and bail out Silicon Valley oligarchs. 93% of Silicon Valley Bank’s deposits were uninsured, over the FDIC limit of $250,000, but the government still paid them. 56% of SVB’s loans went to venture capitalist and private equity firms.
US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
Tag: risk management
Silicon Valley Bank wasn’t “woke”: Tech billionaires are just as bad as Wall Street bros
Ignore GOP hype about the “liberal” tech industry — reckless, entitled libertarianism is what fuels Silicon Valley
Silicon Valley Bank wasn’t “woke”: Tech billionaires are just as bad as Wall Street bros
Related:
Elizabeth Warren: Silicon Valley Bank Is Gone. We Know Who Is Responsible.
California’s Age Appropriate Design Code Is Radical Anti-Internet Policy
from the well,-there-goes-the-neighborhood dept
Thu, Sep 15th 2022 12:55pm – Mike Masnick
This isn’t a surprise, but it’s still frustrating. Gavin Newsom, who wants to be President some day, and thus couldn’t risk misleading headlines that he didn’t “protect the children,” has now signed AB 2273 into law (this follows on yesterday’s decision to sign the bad, but slightly less destructive, AB 587 into law). At this point there’s not much more I can say about why AB 2273 is so bad. I’ve explained why it’s literally impossible to comply with (and why many sites will just ignore it). I’ve explained how it’s pretty clearly unconstitutional. I’ve explained how the whole idea was pushed for and literally sponsored by a Hollywood director / British baroness who wants to destroy the internet. I’ve explained how it won’t do much, if anything, to protect children, but will likely put them at much greater risk. I’ve explained how the company it will likely benefit most is the world’s largest porn company — not to mention COVID disinfo peddlers and privacy lawyers. I’ve explained how the companies supporting the law insist that we shouldn’t worry because websites will just start scanning your face when you visit.
Gavin Newsom Fucks Over The Open Internet, Signs Disastrously Stupid Age Appropriate Design Code
Related:
California’s Age Appropriate Design Code Is Radical Anti-Internet Policy
US recession is very likely, IMF says + A recession alarm sounds on Wall Street
“It’s a very narrow path,” IMF chief economist Pierre-Olivier Gourinchas said. “The current environment suggest that the likelihood that the US economy can avoid a recession is actually quite narrow.”
US recession is very likely, IMF says
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Ms. Cat’s Chronicles 