#bank management

[fnord888]

Patrick McKenzie writes about his (positive) experiences with a First Republic personal line of credit and his conclusion is

It has been quite popular for various parties to point the fingers at bank management teams, saying that impressively impecunious operation of the core business of banking is the proximate cause for the crisis. The crisis is caused by the pace of change in interest rates. Everything else is commentary.

Whereas my takeaway from that story is almost the exact opposite.

The positive aspects of the story are all about, like, having underwriting flexible enough to deal with his weird situation. So while it now doubt helped that the credit line has a seven* year fixed (low) rate, that's not really the core (or socially valuable) selling point of the service. But of course it's interest rates that killed First Republic.

McKenzie goes on at some length about their very low default rate for those products**, despite taking on people in weird situations like his. But that's the whole problem: banks were pricing in credit risk but not interest rate risk.

Maybe it wouldn't have mattered. The size of line of credit portfolio is dwarfed by the mortgage portfolio, and that's a business where it's much harder to deal with interest rate risk while remaining competitive.

But the story here still seems to me to be a story of bank management essentially not caring about interest rate risk.

*Really nine years, because there's a two year "draw period" before the payback period even begins.

**Although, as an aside, those rates were for a loan targeted at "young professionals" during the tech boom. Credit risk may have risen in the new era of tech layoffs.

[rottengurlz]

she’s like if the virgin mary smoked a pack of pall malls every day 🚬

[notnights]

Youtube automatically age-restricted this. og

[lilllybones]

some lads...

[bmpmp3]

based off this video. i think teto is a union man

[icewindandboringhorror]

HAPPY 16TH BIRTHDAY!!! To this elderly bapy boye!!! he...!!!

[bigshotautos]

I really like your theory about Spamton basically haunting a mannequin after death. Have you ever touched upon the reaction from Jevil (or anyone, really) upon seeing the new Spamton? Especially considering Spamton isn't even aware he 'died'.

^ how i think jevil's first sight of Spamton would go. i love this ask. this is referring to some headcanons I made a while back, I'll link it here for the one post and the general ghost spamton theory is linked in that one as well. Going to elaborate on it more under the cut for those interested + more art.

In general I think that people from Spamton's past wouldn't really care if they notice at all, since he wasn't in the business of making close friends with anyone. With the Addisons, in my interpretation he had a "weird co-worker" relationship with them, and while Addisons in general treated each other like potential business competitors that they had to make-nice with, Spamton is especially easy to single out for being visibly and temperamentally different. His altered, current state is something they'd feel at least uncomfortable by, but many wouldn't have been too close with him to begin with for them to talk about it with him directly. Would get whispered about between each other for sure, like we saw with them talking about Spamton after the NEO fight. It moves him from the "disgraced guy I used to know" category to the "actually unpleasant to look at or think about" territory. This goes for Swatch, Queen, and Seam (less so), who seem to buy heavily into the Lightner and Darkner dynamic, with Spamton corrupting the Lightner's dream being a strong taboo against what it means to be a Darkner.

As for what Jevil thinks, Spamton during the NEO fight is both a beautiful and horrifying display. Jevil at this point hasn't seen him in years since his imprisonment, and in their time apart Jevil has grown to find novelty in the cage that everyone else besides him is in since he's created huge emotional distance between him and the reality he lives in. Seeing the fact that Spamton had corrupted an abandoned dream of a Lightner and was causing so much chaos to the established order of the world would be exhilarating, but at the same time seeing that Spamton had accomplished this and still had his strings visible (and changed to a marionette puppet with no symbolic agency), it'd be a painful confirmation of his worldview that even Spamton, who deep down he still cares for, could never have been free.

Jevil would think at first he'd just gone through some nebulous situation to change what he looks like, since ofc he himself has toy-like traits (arguable if that happened with Gasterfication or not), Seam is a plushie cat, and other Card Castle Darkners are based on toys, but feeling the lack of life combined with the symbolic body of Spamton would mean to him something bigger had went wrong. He wouldn't dare to bring it up in an empathetic way, stuck in his mindset that it doesn't matter, but it'd still hit a part of him he doesn't like to think still exists. It's something he gets over quickly, almost performatively going back to fucking with him and taking advantage of his fear for entertainment, but it didn't sit well at first.

To me, the fact Spamton "died" isn't really a huge deal, kind of like with the ghosts in Undertale where no one really cares they're just ghosts. They're just doing their thing. To me it'd be fine if neither of them find out what happened for certain, but it's something that adds Flavor to his character.

[songjay-ay]

im about to slutshame him

[notbecauseofvictories]

It's heartening sometimes to realize how incredibly ordinary historical figures looked. If you watch a bunch of period dramas, you come away thinking that history was made exclusively by shockingly attractive people---when actually, famous poets with burnished names look more like Jim, The Local Bank Manager; artists who broke the mold wouldn't look out of place scrolling through their phone on the subway. You could walk past the absurdly wealthy doyennes of society in the grocery store and never give them a second glance.

[strawbebbiesart]

june/ july / august 💌🥪🦢

[annabelle--cane]

people like to give callum brodie to jon and martin as an adopted son, which is valid and fun, but oliver and annabelle also have very ambiguous fates so I like to imagine them as britain's worst found family. famously good liar annabelle dragging famously bad liar oliver into a parent-teacher conference where they pretend to be married so they can talk to a school principal about why their "son" keeps meddling with building's fuse box whenever he's stressed.

[nessa007]

it’s funny seeing the alleged drama between two certain outer banks cast members who refused to film scenes together in the recent season, meanwhile back in the day you had stana katic and nathan fillion, who apparently loathed each other irl, still having insane chemistry while playing an onscreen couple on castle and chad michael murray and sophia bush were going through a literal divorce irl while playing an onscreen couple going through a tough breakup on one tree hill

these actors showed up and did their job and did it well

[ampleappleamble]

Which Pillars characters would do best/worst at retail or customer service jobs? I'm imagining Aloth in a McDonald's uniform or Vatnir working at Macy's

Fassina, both. obviously.

all of these are secretly about Best Customer Service Associate Fassina. to me

[rafesbbyy]

I genuinely love all and every Rafe fic I read and I swear everyone in this fandom is so freaking talented, but sometimes I wish there were Rafe fics that were more show accurate. I wanna read fics that have canon show events and characterization and stuff—I love reading the ones where Cameron family is depicted as close and happy but we all know in canon, they're anything but. The canon to me is also just so much more interesting and I just wanna explore those dynamics and obx fandom writers are so goddamn skilled.

[acekindaneat]

some wawa art from twt :]

[penis-flytrap]

So, over 90 items from Rory Gallagher's estate are going up for auction in a few hours, including his 1961 Strat...

I've got my eye on a mandolin, a harmonica set and a knock-off Telecaster (PRAY 4 ME!!!), but while registering to bid, I took a peek at the Stratocaster listing and noticed that Bonhams have included several photos of Johnny Marr proudly playing it in their gallery.

Apparently he's one of only 3 other musicians who's ever been allowed to gig it!

Here's one:

"The man who changed my musical life was Rory Gallagher, I picked up a guitar because of him."

(He changed mine too bb, but if I had the good fortune to pick THAT guitar up I'd be putting it right back down again 😂)

Link here:

UPDATE: the Strat sold for £700,000 and is going back to Ireland 🤩🤩🤩