Stephanie Pomboy on SVB failure: "this is all totally predictable"

This is all totally predictable.  When you force the banks to hold nothing but Treasuries and agencies and you ratchet up interest rates at the fastest pace in history, and drive sharp losses in those same "risk-free" assets, you're going to create some dislocations.  And I think probably what happened is that the fact that nothing untoward had occurred over the last 12 months imbued their confidence that "hey, maybe everything's going to be just fine."

~ Stephanie Pomboy, interview on Fox Business, 5:25 mark, March 11, 2023