“I’m a small-time commercial real estate investor. About a year and a half ago, I saw obvious signs that interest rates were heading upward and would continue to head upward, so I scrambled to refinance my near-maturity loans before I got trapped by those high rates. I’m just some podunk outsider, so if I could see the obvious, why couldn’t the Best-and-Brightest that populated SVB’s board and C-suites? As I understand it, they were heavily invested in mortgage backed securities that would lose value in a rising interest rate environment. Were they incompetent, or were they so distracted by woke that they simply didn’t notice?“
“I’m a small-time commercial real estate investor. About a year and a half ago, I saw obvious signs that interest rates were heading upward and would continue to head upward, so I scrambled to refinance my near-maturity loans before I got trapped by those high rates. I’m just some podunk outsider, so if I could see the obvious, why couldn’t the Best-and-Brightest that populated SVB’s board and C-suites? As I understand it, they were heavily invested in mortgage backed securities that would lose value in a rising interest rate environment. Were they incompetent, or were they so distracted by woke that they simply didn’t notice?“
Arrogance
Some of biggest
cases of mistaken
identity
are among
intellectuals, monied
and scientists
Who have trouble
remembering
they are not
omnipotent
nor clairvoyant
Steve Heins