From: lessgovt@gmail.com   
      
   Silicon Valley Bank Failed to Predict an Obvious Result   
   Letters, March 28, 2023, WSJ   
   Re: your editorial, “About Those ‘Safe’ SVB Treasurys” (March 15): It   
   was simply stupid for Silicon Valley Bank to park its cash in long-term,   
   low-yield bonds because of two facts that everyone knew. First, the Federal   
   Reserve was keeping    
   interest rates at such low levels they could only rise, which would drive down   
   the resale value of those bonds.   
      
   Second, the U.S. govt was pouring trillions into the economy, spurring   
   inflation. It was predictable that the Fed would be forced to raise rates to   
   shore up the value of the dollar and cool inflation. This looming situation   
   has been obvious for years to    
   those with common sense, but it appears that SVB and the federal regulators   
   who oversaw its balance sheet simply lacked that capacity.   
   ---Randall Kilgore, Sacramento, Calif.   
      
   https://www.wsj.com/articles/silicon-valley-bank-failed-to-predi   
   t-an-obvious-result-interest-rates-treasurys-a6eaa8ab   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)