of silicon valley bank are unique, but some are common to many other banks. the unique ones matt talked about well. the common ones arise from the interest rate actions of the fed. they are jacking up interest rates. they jacked them up at a it s aer pace than any time in history and in six months they went from sezero to 4.5%. when interest rates go up, asset values go down. that s one of the intended consequences. so it bursts bubbles like the tech bubble, the crypto bubble and others. but it also catches banks balance sheets in a vice because their assets go down. this particular bank had a lot of interest rate sensitive assets. so its assets went down a lot. but it was also a unique characteristics of its business mix and high risk business model. but there are other banks out there that are struggling to be able to readjust their
president to owe more in taxes to a foreign government than a u.s. government? obviously it is going to depends on your business mix, but with donald trump, it was really striking, both in the taxes that were just released, and we know, we did an investigation in 2020 that got 20 years of his corporate and individual returns, and we saw, you know, all of his corporate returns, so each corporation, and time and time again, it became, it has jumped out at us, that he in the countries that he s doing business in, he is paying typically more income tax overseas than he is in the u.s. and part of it is, he has the number, and properties in scotland and ireland, and licensing deals in a number of countries, turkey being one of them, the philippines, there is others, and he pays taxes in those countries. i think the big difference is, in those cases, for the most part, other than those particularly, those three golf courses, because they re properties, these licensing
I’ve used this quote before, but it bears repeating. Albert Einstein said, “The world as we have created it is a process of our thinking. It cannot be changed without