skysight-inc/HackerNews huggingface dataset:
Here's my understanding of the plan based on the Fed's description[1]:

The Federal Reserve has created a new program that provides a backstop to banks based on the par value of their assets, rather than the market value. This is huge because the issue here is that the assets on a bank’s books are baskets of loans (typically mortgages or loans to the US government) that are very safe but have lost market value because interest rates have risen. However, at par (what they'll pay over their lifetimes), they cover all the bank’s deposits.

Mechanically, the way this would work would be that if a bunch of depositors all withdraw at once, rather than the bank having to sell that basket of loans at a big loss, they’ll borrow from the Federal Reserve instead. That way, they won’t take a loss and won’t end up insolvent. Depositors get their money and everyone would be happy. Since everyone now knows this is possible, in all likelihood this won’t actually get used that much because it’s safe to leave your money in the bank.

[1] https://www.federalreserve.gov/newsevents/pressreleases/mone...
What loans? SVB's problem was that its customers didn't need loans, since they had VC money and just needed somewhere to put it.
I am running the 30B model on my m1 Mac Studio with 32gb of ram.

(venv) bherman@Rattata ~/llama.cpp$ ./main -m ./models/30B/ggml-model-q4_0.bin -
t 8 -n 128
main: seed = 1678666507
llama_model_load: loading model from './models/30B/ggml-model-q4_0.bin' - please wait ...
llama_model_load: n_vocab = 32000
llama_model_load: n_ctx = 512
llama_model_load: n_embd = 6656
llama_model_load: n_mult = 256
llama_model_load: n_head = 52
llama_model_load: n_layer = 60
llama_model_load: n_rot = 128
llama_model_load: f16 = 2
llama_model_load: n_ff = 17920
llama_model_load: n_parts = 4
llama_model_load: ggml ctx size = 20951.50 MB
llama_model_load: memory_size = 1560.00 MB, n_mem = 30720
llama_model_load: loading model part 1/4 from './models/30B/ggml-model-q4_0.bin'
llama_model_load: ................................................................... done
llama_model_load: model size = 4850.14 MB / num tensors = 543
llama_model_load: loading model part 2/4 from './models/30B/ggml-model-q4_0.bin.1'
llama_model_load: ................................................................... done
llama_model_load: model size = 4850.14 MB / num tensors = 543
llama_model_load: loading model part 3/4 from './models/30B/ggml-model-q4_0.bin.2'
llama_model_load: ................................................................... done
llama_model_load: model size = 4850.14 MB / num tensors = 543
llama_model_load: loading model part 4/4 from './models/30B/ggml-model-q4_0.bin.3'
llama_model_load: ................................................................... done
llama_model_load: model size = 4850.14 MB / num tensors = 543

main: prompt: 'When'
main: number of tokens in prompt = 2
1 -> ''
10401 -> 'When'

sampling parameters: temp = 0.800000, top_k = 40, top_p = 0.950000

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main: mem per token = 43387780 bytes
main: load time = 35493.44 ms
main: sample time = 281.98 ms
main: predict time = 34094.89 ms / 264.30 ms per token
main: total time = 74651.21 ms
Love it. Don Draper approves!
They really need regulation that requires banks to hold more funds. They have to be able to withstand small runs.
Not for FDIC. 10 people each with 1mm in 10 different banks. If FDIC covers the entire amount when 1 bank fails, they pay 10mm. If all 10 people spread 100k across 10 different banks and 1 bank fails, FDIC pays 100k x 10 which is still 1mm.
The goal is to destroy money where it is safe to do so. Aka: the "soft landing".

I think we can agree that destroying depositor money is going too far. That being said, we still have a long way to go, inflation is still 6%+, so more rate increases are needed... which will only cause further monetary destruction and other issues similar to SVB.
It's actually not.
Fine, lender. Doesn’t change my analogy. My point is this question is easily answered.

> Why would any bank ever conduct risk assessment if their potential failure will be paid by the industry as a whole.

So the bank doesn’t go under, causing them to lose their jobs and equity.
Because people are only allowed to be their job? How is the fact that they also have other passions outside of their job mean they must have been a terrible employee.

If I had a major fuckup at my job and then someone dug up how my job talked about me running a board game group at lunch at work, would you be pulling quotes about how my love of Illimat and The Crew was a sign that my company was negligent?
Wouldn’t SVB have to go through the rigors of the stress tests mandated by Dodd-Frank?
I was expecting that reference would be made soon after LLaMA was announced, but it doesn't quite beat this: https://news.ycombinator.com/item?id=35094442
>Preventing thousands of job losses and helping small businesses stay afloat during crises that they should not reasonably have to expect does have a positive return on investment for taxpayers.

Why do you say this with such certainty?? I am for efficient government and savings to the taxpayer, so I would absolutely support such a measure if I agreed.

Just because the government provides help, it is not given that it will ultimately be positive ROI for the taxpayers. What is the payback period here and when can I expect to see the savings on my tax bill going down? If it takes 50B to make depositors whole, how many jobs will be saved, how long will it take to recoup that from taxing those jobs, and what will the profit in excess of cost be?

Reasonable people would agree that 1 billion to save a single job would never pay itself back, so clearly there is a threshold somewhere. No economist would refute that one exists.

People seem to assume or treat it as an axiom that any help the government provides is a net positive investment, independent of cost or analysis.

The idea that this is known or calculated here is absurd. We don't know what % the deposits will be written down, How many jobs that will cost, or how successful those companies will ever be at generating tax revenue.

I am not strictly opposed to aid in a crisis. It is clear that in some cases government action saves the taxpayer money. For example, a cheap medical treatment might prevent lifelong government disability payments, with tax savings that vastly outweigh the initial cost. That does not mean that every medical treatment at any cost translates to tax savings.

There are also questions of moral Hazzard and incentives, but I put those secondary. Regulations can and should be fixed, independent of how we respond to this crisis. However, that does not factor into question of if an account holder bailout is a profitable venture for the taxpayer.

Does this make sense and do you understand where I am coming from?
Right, it's going to be funded as a fee against banks, which will be passed on to bank customers aka taxpayers.
Strange that the article doesn't mention Brexit. Many nurses (and doctors) in the UK used to be from EU countries.
> Emacs can feel worse, in this regard; but, I for one love how open it is to extend. Literally a defun and you've extended it.

Which is how all (or at least most) of our computing systems should work. The inability to easily extend programs is what leads to the "need" to replace them so often with other programs that satisfy unmet needs or capabilities. Which ends up mostly creating churn, not value or utility.
> losing marketshare

Tesla has made mode cars than ever. Their market share has gone up.

Unless you mean EV marketshare, but the whole point of Tesla is to make EV's mainstream not to be the sole EV manufacturer.

And Twitter is cash flow positive now, so they'll be fine.
Or you can look into Tails: https://tails.boum.org
cnet published a bunch of unlabeled ai-generated articles for months https://www.theverge.com/2023/1/20/23564311/cnet-pausing-ai-...

the nyt just published a long interview with sydney in which she attempted to convince the author his wife didn't love him, which is ai-generated content; while that was clearly labeled, it will still appear in text data sets as ground truth

abundant background noise provides a lot of value for text data sets because it tells you how people talk
The tech industry moved fast and broke its most prestigious bank
> more to do with how google (mis)managed it.

Definitely this. The service itself was great, was ahead of the competition gameplay-wise. Google just did what Google does.
If you connect sidecart to debug it will most likely have bash.

And why you'd need bash fu just for local work ? The most I use it is for old fashioned servers (we have anything from "classics" to few k8s clusters)
It's a simplification, but I agree, it's not fully accurate.

I'm guessing what you're getting at here is that bank would technically have a $100 liability with the customer and $100 in cash on its balance sheet.

The point I was trying to make is that there's just $100 of spending power in this hypothetical economy.
Well known anecdotally perhaps, but this is the first time I've seen a major publication link the two issues (possibly I don't read enough of the news). Hopefully we see more like this.
Did you sign any contract with the university regarding using their resources for side work unrelated to your PhD?

If you didn't I would not worry too much about it.

To get in trouble you would have to execute your idea and turn it into a business that is worth going to court or arbitration for (with very little chances of winning).

Chances of that happening are so slim that you should worry about many other things first.

For piece of mind you can host a virtual machine and work there.

Keep in mind that usually if IT wants they can monitor every keystroke on your laptop, so there's really no privacy when working on a computer provided and managed by others.
The minimum guarantee, not the maximum capabilities.
This is one of those rare time google actually returns 0 results. 0. Well played.
> Audio streams may not be used in any third-party products.

Says the source that seems to be https://www.liveatc.net
With this news, I'm opening a bank. Here is my business plan:

1. Make risky investments and offer better terms than other banks

2. Watch business flock to me

3. Get filthy rich on yearly bonuses

4. 10 years later my risky investments blow up (Make sure to sell stock before)

5. Get taken over by the FDIC

6. Don't return those years of bonuses

7. Let other banks pay for my wrongdoing with a "special assessment"

8. Walk away as a filthy rich failed bank executive
Dodd Frank != stress testing and nobody was ever stress testing regional banks. Maybe they should start now given that depending on the region bank failure can have national security consequences
Wrong. The Fed is well aware that things will break as they raise rate. That's the nature of what they're doing.
Selection/sampling bias and lizardman's constant are both important to remember.
How powerful of a computer does this need? It would be useful to see, for one thing, minimum RAM requirements for these models.
You don't need 16 banks to eliminate all risk. You need one bank and a treasurydirect account.

Anybody, including corporations and partnerships, can safely park excess cash at treasurydirect.gov. Buy short term treasuries and time the redemptions to coincide with next month's payrolls. The shortest bills are 4 weeks and they're paying like 4% right now.

I honestly don't understand why more people don't do it.
Just wow. "Money Saving Expert", a UK website which gives pretty decent advice for the average person in the UK mentions the government provided insurance limit for deposit accounts (£85,000). Anyone reading that site knows their money could be lost if they have more than the limit in any single bank (or multiple banks where a subsidiary shares the owner banks insurance).

But then again it doesn't really surprise me that an SV CEO would have no concept of deposit insurance. They live in a different world.
This is most people, which is why things like Gnome desktop are the default. They just work out of the box. Kids and unemployed people enjoy tinkering with arch Linux and i3 but the average person wants it to just work and be simple.
The cost may be pretty low but not because the FDIC will somehow get the nominal price for those bonds. They are not worth more than what they are worth. (On the other hand, they are worth more now than they were on Thursday.)
The article doesn't mention it because the trend began way before Brexit was concluded.
Note that you'll have to buy the ebook from amazon to be convinced
It should not have taken a stress test for the FRBSF or CA State Examiners to see the high risk to solvency a run would create for SVB given the size and state of their HTM portfolio.
so why would they care if a bank run happens or not? seems like a pretty good time to make adjustments for the long term.
OP I don't have an answer for you, sorry.

As a discussion point, is there any industry where if provided tools, ownership of anything those tools produce become owned (either partially or fully) by the legal owners of those tools? Would the same rules apply to paintbrushes or a musical instrument?

Assuming there's not, it just seems odd that it would be the case for a laptop and somehow that's okay.
No, this is not how the deal works. We do not reimburse investors for wrong, or just plain unlucky investment decisions. Our financial-regulatory system treats banking and speculative investment differently, and this is by design.

> If you're already bailing the bank out, oust the management, claw back what you can, but don't wipe out share holders or bond holders.

You don’t get it: the bank is bailed out using funds of shareholders and bondholders. Taxpayers aren’t bailing out SVB, you are. If you don’t like it, well, I recommend selling your investments and keeping your money in regular savings accounts: the deal is, at the basic, very simple: if the company you own screwed up, your entire equity may be used to made those whom it screwed up whole, and you should be happy that your liability is limited to your equity only.
> it is hard to take them seriously

Especially when their "opinion" directly contradicts the stated facts of the situation. The feds are not going to bail out the bank—Yellin specifically said, "We're not doing that again." But they are giving the depositors, meaning people and companies, their money. That is huge. That, far as I am aware, will prevent this situation from becoming a deadly falling-domino game.
The effect mentioned started before Brexit, so the link has to be with something else - in the article's conclusion it's a related Tory problem, austerity
Sure, if we change the limit of FDIC so it's harder to stack that would make sense. e.g. coverage is per entity not per account.

But that's not what people here are suggesting. People are suggesting to divide the funds so that it's all covered. That it was irresponsible of companies NOT to do that and hence they deserve not to get the full deposit amount back.

EDIT: yes it'll cost more money to split today. But it's a waste. The extra cost doesn't go to the FDIC or tax payers, it just goes to a middleman. So then why not just raise the FDIC limit? (or change the rules so you can't split it)
There are risk profiles between crypto/sv banks and JPM & co. lol

What is this sentiment called? SVCentrism?
Play your own game. Take the money, do some of the work. See if you can amuse yourself by naming things oddly, or getting misspellings or malapropisms into official documents. At one point, I got a requirement for "patience of a zen monk" into a disaster recovery plan, and an error message of "Incredibly grotesque and horrible error #3" into some code. Maybe work to rule in some situations, but be super polite about it. Write contorted code.

That is, take it out on them passive aggressively, or treat it as performance art
Right, that makes sense to me. So I guess I'm confused by the other commenters suggesting that depositors should only receive the $250,000 and no more. What are they proposing happens to the remaining money?
Matt Levine frequently discusses the fact that losing billions of dollars means at some point, someone trusted you with billions of dollars. Which new employers (especially banks) look on favorably.
How is this newsworthy?

It’s just a random PR from a random person right?

It’s only noteworthy if it gets merged.

Of course it has lots of upvotes. Everyone wants to get something for free.

…but unless there’s any particular reason to believe it will actually happen (there’s not), there is nothing to see here.
Nothing about what I'm proposing would make you easier to track.
If I interpret the action correctly the Fed just granted all banks a giant put option to place any government securities at par for cash whenever interest rates move against them

The only decent thing would be to remove the bank's freedom to (mis)manage interest risk altogether, have sovereign money deposits with the central bank and force private banks actually work for their profits by properly managing risks
That most probably means, he and his companies kept his cash in SIVB and not that he has stake in it.
Neural Engine across the M1 and M2 series is also sadly very limited.

I bought one thinking I could exploit it for StableDiffusion and other tasks but found that most libraries say to use GPU for faster generation. What I found is not only is the engine the same on m2 pro (meaning I upgraded for no reason from my m1 basemodel) but it also doesn't scale at all except in the m1 Ultra where it's doubled simply because it's using two dies bridged.

Neural Engine can generate 512x512 images pretty easily but takes a while even compared to using the GPU on a basemodel m1 Mac Mini. It's kinda crazy. Looking into ways to improve it and take advantage of the neural engine in the future but the current situation is very limited. Even apples official implementation and coreML libraries seem to prefer you run them on Metal
> [Qatar] therefore launched an international espionage and influence operation over several years, with the help of ex-CIA agents.

Ouch. That "ex-CIA" thing is interesting, as the US is legally going after some US ex-military aviators for training (military?) people in China.

Feels like a double standard of sorts.
I agree. I’m usually a stickler for punctuation and spelling, but I can barely tell the difference between these three hyphens. And that is when they are right next to each other. If they were alone in a document? There is no way I could know which is being used. If they aren’t easily distinguishable, I don’t see the point in using three separate symbols.
They will make money immediately available to depositors (emphasis on timing), and the government is standing up a funding mechanism from SVB assets backed by a bank insurance fund.

FDIC et al. just fast-forwarded to the end, although notably I don't see a discussion of where any potential profits will go.....
Source for this? All evidence show that their failure at least started with them owning a lot of "safe" bonds, whose value declined with increasing fed rates.
> Then don't use them?

I don't and; but dumb tools replace -- with em-dash which breaks shit.

> If you don't want to use them, I'm almost positive no one is ever going to correct you.

Still have to look at it and suffer consequences of dumb editors replacing -- with em-dashes when someone innocently tries to just say commandline parameter
exactly, the idea is for depositors not to care if a bank run happens or not, because the way that bank runs happen is that depositors worry that a bank run will happen
Just for fun: CD's are not required to be FDIC insured, it's optional based on the issuer of the CD. I'm not aware of any these days that are not FDIC insured, but that doesn't mean they don't exist.

Your brokerage(assuming you have one) can sell you FDIC insured CD's as well, you don't have to go to $BANK to buy them. Assuming you want lots and lots of CD's this can make buying and managing multiple CD purchases a lot easier.
When all the configuration options are gone, it’s interesting how many of these “critical” tweaks become unimportant. At the end of the day it doesn’t actually matter what side of the window the close/minimise buttons are. You just trust Apple/whoever to do it right and deal with whatever you get.
that's an extensibility symptom.

every single game with 'mods' has the same issues that the vast majority of extensible applications have.

the core developers (hopefully) care and understand about the cost of a cycle, whereas the mod/extension developers tend to care only about how their addition works and expresses itself to the user.

the mod/extension developers (generally, not in the case of foss projects) usually lack the scope to understand how their coding decisions affect the rest of the code base, or in the worst cases they lack the understanding needed to optimize something to the point of usability -- so they achieve their small purpose by any means possible, often times in fairly brutish manner, which kills app performance all together.
A bit offtopic, but does anyone who has worked with media organisations in the past know, how much an individual developer time is spent in creating an interactive feature report like this? Also, are there publishing tools that allow creation by something like drag and drop in the CMS or is it often custom frontend code?
9. Get hired by another bank as CFO (See Lehman Brothers/SVB for a tutorial)

10. Repeat
agree. why many word when few do trick
Sure, as far as I understand from that table the maximum fee FDIC charges is $1 for every $200 on deposit, which if we're expecting it to act like full insurance means they're expecting that these riskiest banks won't fail more often than every 200 years on average, which doesn't come anywhere close to how risky these banks actually are.
This is what happens when you are building rules are around an existing system versus the other way around.

In another language you have a value of type String which can take any value, might crash, might not, when you give it a color value.

And then you have a set of items like you described, which are convertible to String (or are a string, like your enum).

In fact, the receiver property probably shouldn't even be String, but typeof Color, which can be constructed through a method/constructor that ensures the String input is a valid format.

Because which color is "XXXXXX"?
You can be 100% sure the internal I/O buffers are pinned in Java’s implementation, and you seem to have a misconception about the Java-specific meaning of “thread interrupt” in this context (it has nothing to do with thread context switches).
It's the only sensible choice with unlimited backstop. It should have already been happening, really because the only difference from last week is that the guarantee was made explicit and we don't have to wonder.
Love to see people coming AFTER, telling everyone how wrong they were.

Did you short SVB? You must have known it was coming right?
Is the ... widely distributed version ... safe to use? How can I check I have the 'right' one? Someone was saying that the models could technically execute arbitrary code if they were backdoored? I'd love to play with them if I have the proper compute haha