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Ann: Change of Director's Interest Notice - Robert Edgley, page-18

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    Not all US banks. Big ones were fixed with wide moat after GFC. SVB was one of the smaller ones that pressured Trump to exempt it from that moat, thinking it will zoom by attracting all the growth tech stocks in Silicone Valley. That worked fine till now cos of the zero interest rates that start-ups need to fund their enterprise. The aggressive interest rate hikes by Powell caused the funds to dry for these tech stocks who had to remove their funds from SVB. It's not a systemic problem as in the GFC and now the pumping of billions to support both Credit Suisse and SVB has averted the crisis.
    As for inflation, that the real problem. Phillip Lowe, like US Powell, has raised interest rates aggressively ten times already and Lowe committed the error of calming down the market by assuring house buyers interest rates won't go up further, before hiking them. So we now have some who got mortgages on the basis of his assurance. imo interest rates will need to go up but much more slowly.. and our banks and swf are safe from such a run.
    Imo it was Datt who convinced our worthy CEO to put her hand in her own pocket and buy on-market swf shares. It happened straight after he got on the board. Now I'm waiting to see him pull some more rabbits out of the hat with gently nudging our ceo to push ahead ..
 
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