Hindsight is obviously 20/20, which is why it’s kind of interesting how much this truth is seemingly lost on the pundit class with regard to Silicon Valley Bank (SVB). Seemingly everyone who comments on matters commercial or economic knows now what they strangely didn’t know roughly 12 days ago.
Pundits on the left and right are confidently pointing to “regulatory failure” as a major driver of the bank’s decline, but good luck finding any commentary from those same individuals pre-March 10th in which they were alerting regulators to problems at SVB. Which is the point. If pundits or regulators were capable of seeing around the proverbial corner in order to detect trouble ahead of time, they most certainly wouldn’t be pundits or regulators.
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