From the right: Bro-Bank Blues
āSVB failed for the same reason that failed banks typically fail,ā : āIt borrowed short-termā and ālent long-term.ā But the real āculprit is all the money the federal government has pumped into the financial system over the past 15 years.ā It āhad to go somewhere.ā Where? āInto sky-high stock and šhousing valuesā and āfood and energy inflation.ā āBut mostly, it went into a bloated tech sectorā already āout of ideas.ā Now the Fedās interest-rate hikes are exposing bad investments: āMore SVBs are out thereā but āinvestors just donāt think the Fed has the stomach to keep interest rates high enough, for long enough, to find them. Investors are betting on a bailout to bail us out of all of our previous bailouts.ā
From the left: Bailout for the Rich
āThe real problemā with the bailout of Silicon Valley Bank depositors āis that this gift to a handful of extremely wealthy people willš blind everyone as to how we got here,ā . The idea āthat regulators must invoke a systemic risk exception to preserve depositorsā is ālaughable, considering that SVB expressly lobbied to have the systemic risk label taken off of their bank,ā and āmembers of Congress ā from both parties ā agreed to do so.ā Plus, āthe haircut that [SVB] depoļ·ŗsitors would take under normal rules would be minimal,ā but with the bailout, ādepositors at SVB got all the upside of banking there, paying nothing extra to lighten the risk of failure, and none of the downside. Privatized profits, socialized risks.ā
Analyst: Behind Bidenās Anti-Crime Gesture
President Bidenāās support for a resolution to overturn a soft-on-crime DC law led two-thirds of Senate Democrats to help pass the measure ā yet hung most House Dems, whoād opposed it, āout š¬to dry,ā . Biden plainly ādidnāt want to be seen as soft on crimeā as the 2024 election nears. Gallup finds 70% of adults dissatisfied with the nationās efforts to control crime, and recent election results ā Chicago Mayor Lori Lightfootās loss, NY Gov. Hochulās near-loss, ex-cop Eric Adamsā win in NYC and San Franciscoās recall of far-left DA Chesa Boudin ā likely āspooked Biden,ā when voters already give the GOP a 20-point advantage on crime.
Oscars note: A Win for a Hero
āRussian liberals on Monday celebrated thź¦e Oscar win of āNavalny,ā a documentary about the poisoning and imprisonment of the āheroā Russian opposition leader Alexei Navalny,ā who is now āserving sentences totaling 11.5 years,ā . The film āfollows an investigation by Navalnyās team together with the Bellingcat group as they unmask FSB agents who were sent to poison Navalny in 2020.ā Among the cheering supporters: Mikhail Fishman, āa popular liberal Russian journalist and film-maker,ā who said, āNavalny received an Oscar because he is a hero, and because the day is not yet in sight when he will be released from prison. But that day will surely come.ā Using his acceptance speech to condemn Vladimir Putinās āunjust war of aggression in Ukraine,ā director Daniel Rohar added: āAlexei, the world has not forgotten your vital message to us all: we must not be afraid to oppose dictators and authoritarianism wherever it rears its head.ā
Gas-stove beat: Team Joeās Still at War
Not only does President Biden still āhave multiple federal agencies targetingā gas stoves, , āhe is also going after the natural gas supplies on which they depend.ā Proposed energy-efficiency standards āstand out for hitting gas stoves much harder than electric versions.ā And the Inflation Reduction Act has handouts āfor builders of subsidized housing units that provide electricity only,ā plus āfunding for states and localities that change their building codes to create impediments for gas hookupsā and āa $840 rebate to anyone who buys a new electric stove.ā All this ācould spark a bigger backlash, not juļ·½st against stove mandates but against the larger climate agenda.ā
ā Compiled by The Post Editorial Board