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DYTTIGAF t1_jed4ckg wrote

Reply to comment by BlackSky2129 in We did it everyone. by TendiesForTheBoys

I sat looking at my computer screen in November 2021. Just as Powell said the Federal Reseve was going to be raising rates and pivot from their "transitory" viewpoint on inflation.

I have been locked in for the last 14 months. Each day watching this policy change in action. It's not brain surgery. It's simple stuff.

Please don't be an apologist for a bunch of twits in Silicon Valley who failed to make the most basic attempts at hedging a multibillion bond position.

Why? When they saw they needed money they approached Goldman Sachs as the savior to buy the long bond position (at market valuations) as well as to float a share issue (to make up for the lost principle value on their balance sheet).

A bunch of VC's got wind of the deal and jumped on Twitter...and the game was over.

This was 3rd grade mis-management by the bank who was more concerned about social governance nonsense than being good stewards of other people's money.

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BlackSky2129 t1_jed6mbd wrote

> November 2021

You literally proved my point. The Feds went from no raise in the foreseeable future in AUGUST ‘21 to yeah everything I said was false 2 MONTHS LATER.

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DYTTIGAF t1_jed90wj wrote

How old do you think these executives were 12 years old?

Seriously are you trying to argue these morons spent 14 months looking at screens wondering what to do about a billion dollar wealth destruction....and they didnt have the competency to do anything about it?

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Spins13 t1_jef48hw wrote

Yes the risk manager was a token girl who was doing woke conferences… instead of you know managing risk

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