by Karl Denninger
Market-Ticker.org
Oh but so many climate-related firms are going to fail to make payroll! – Any one of a thousand Internet scolds.
My answer: So what?
Next up – Republic, which apparently had lines out the door (if you believe the Internet) on Saturday. Again: So what?
Folks, bubbles attract stupidity. Stupidity is a constant in the universe; in fact it is likely the only thing that is truly infinite (with all due respect to the late Mr. Einstein.)
The so-called “Chief Risk Officer” at SVB had a masters in….. public administration. Anyone care to bet if she passed any form of advanced mathematics — you know, like for example Calculus or Statistics? Do you think she understood exponents and why this graph made clear that concentration of risk and duration was stupid and likely to blow up in everyone’s face — including hers?