The Rise of High-Flying Speculative Investments

The big problems that a lot of their depositors are some of these high-flying speculative investments made a lot of money. JP Morgan, Chase, Wells Fargo, many of the other big players went out there and dumped their holdings of long dated fixed rate bonds at deep discounts to prepare for higher rates. The sovereign or Silicon Valley bank did not because their management was too consumed with DEI and ESG and the LGBTQ and all the rest of it. So they were not, but the risk management team, they were paying no attention whatsoever to this very obvious problem.

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