Janet #Yellen is so smart. She and her team have come up with a way to help banks manage risk from spillover effects of #SVB closure, without giving a bailout that rewards bad management and those investors who chose to support them. I don’t know that this solution will effectively stabilize the banking sector but it certainly seems worth a try. The NYT has one of the clearer descriptions of the plan. Gift access to its coverage: https://www.nytimes.com/2023/03/12/business/janet-yellen-silicon-valley-bank.html?unlocked_article_code=6GIFRKaG2_VqbJR0ifjIBY08kcLlOi3Q6X_mzvGfrMncR_vtxt2o1zy1a9eMR2inCkaFmGNHbllyxBPTi1YVfA3hb-jHFFSxlS8M2EjM-YOVs6U-NiEvOYh6b84xQlS720ZjJAoO-dtcuAeX9mgHCZgciQr8ZORVBgl7hHkn0zBpJc3Jl876qrqPO07llQ4OKjnc3yWlNw6NE1O6CVqay-BcL9eQicLd1HJk7_tdrH1y1BSuK_gvl7oVxBY3L24YV2qfDfKd8rRYNzvFbJ_orV3SSZz9AO6XdlKa1wd_mlJLZQJAza6RKCPbjsPdJt72xH_UFuVMerqncEeYsg6s_KdutKE4fp6Oex9a&smid=url-share