Monday Open Thread

20
  by: Colorado Pols March 13, 2023 at 12:16 AM MDT

“If you don’t like something, change it. If you can’t change it, change your attitude.”

–Maya Angelou

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20 Community Comments, Facebook Comments

  1. DavidThi808 says:
    March 13, 2023 at 11:42 AM MDT

    I think they made the right call on SVB. If they hadn’t, you would have seen a run on every non TBTF bank as every CEO in the country moved their funds to a TBTF bank.

    In addition, it would have furthered hammered the start-up industry. So far most smaller high-tech companies have been doing OK and there has been a burst of new start-ups. All that was a good balance to the lay-offs in big tech. And holding/losing their reserves would have been incredibly destructive.

    And every one of those destroyed companies would have meant individuals suddenly unemployed. Every one of those harmed companies would have meant reduced new hires. And it would have meant a lot of time invested in setting up fail over systems which is a huge opportunity cost.

    ps – The depositors is not a case of greedy people doing questionable things for a larger return. A company will go to a larger interest rate on their deposits but mostly they’re just looking for a safe place to park their money that can provide the financial services they need.

  2. DavidThi808 says:
    March 13, 2023 at 11:46 AM MDT

    Brilliant Political Opportunity

    The Democrats need to introduce legislation this week to roll back the gutting of the regulations passed under Trump. And they then need to message the shit out of that legislation with two clear messages. First, that this would not have happened if Trump/GOP had not gutted the regulations. Second, that this was 100% the responsibility of Trump and the GOP and they want to do more of this.

    Yes that responsibility message is a bit unfair as some Democrats supported it. Tough. Politics is not always fair and the blame casting will work.

    And don't do the normal Democratic response of let's take 6 months and craft a bill that is even better and improves on reverting the legislation. A simple revert is a big improvement, it's a very simple political message, and you can run with it now.

  3. davebarnes says:
    March 13, 2023 at 12:25 PM MDT

    I want the executives to be drawn & quartered. Too harsh? Well, my friend, Jim in Paris, says: "the guillontine is to quick".

    We could bring back the stocks. Public shaming in the town square.

  4. 2Jung2Die says:
    March 13, 2023 at 12:48 PM MDT

    Deregulation in America is a combination of fighting the last war and Groundhog's Day (the movie). We rightfully pass legislation based on something bad happening, whether it could've been avoided or not, and then with the passage of time somebody suggests it's OK to roll regulations back. Then something bad happens, whether it could have been avoided or not, and the whole cycle plays out again. Plus, during the movie Bill Murray realized he wouldn't face consequences for anything he did, which probably would not be a perfectly fair comparison to the players involved with SVB but perhaps artistic-license illustrative. 

  5. MichaelBowman says:
    March 13, 2023 at 2:25 PM MDT

    Congrats to the Wray boys basketball team for winning the Class 2A state championship for the second time in three years.  Also, Wray is the first school to have two championship teams in the same year, wrestling and basketball, since Alamosa in 1992. 
     

    I wish Voyaguer was here so I could needle him on the Wray v. Holyoke rivalry! 

  6. westslope says:
    March 13, 2023 at 10:32 PM MDT

    Late breaking story: Pat Schroeder has died.

    It’s a great loss. She was a towering Colorado politician. 

    Tributes will wait for the cold light of day.

     

    • notaskinnycook says:
      March 13, 2023 at 11:06 PM MDT

      I just saw this on the Denver Post widget on my desktop and popped in to see if it had been posted.  crying

    • dwyer says:
      March 14, 2023 at 6:09 AM MDT

      A coalition of pro-choice and some pro-life women worked with Pat to finally get the Family Medical Leave Act into law.  The Democratic Congress passed it three times.  Reagan vetoed it twice and Bush I veteoed it once.  It was the first bill Clintion signed. Thank you Pat Schroeder.  Too soon gone.

    • Duke Cox says:
      March 14, 2023 at 7:14 AM MDT

      As I remember it, she was a beacon of blue light when Colorado was a sea of red.

      A class act….rest in peace, Pat.

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