Interesting news today. Here’s the WSJ Editorial Board’s take:

The Treasury and Federal Reserve stepped in late Sunday to contain the financial damage from Friday’s closure of Silicon Valley Bank, guaranteeing even uninsured deposits and offering loans to other banks so they don’t have to take losses on their fixed-income assets.

This is a de facto bailout of the banking system, even as regulators and Biden officials have been telling us that the economy is great and there was nothing to worry about. The unpleasant truth—which Washington will never admit—is that SVB’s failure is the bill coming due for years of monetary and regulatory mistakes.

Wall Street and Silicon Valley were in full panic over the weekend demanding that the Treasury and Fed intervene to save the day. It’s revealing to see who can keep a cool head in a crisis—and it wasn’t billionaire hedge-fund operator Bill Ackman or venture investor David Sacks, both frantic panic spreaders.

Forget who is speaking here and instead focus on what is being said: I know that's very hard in general and almost impossible on Twitter but I believe in asking a lot of people.

Now, with that done, is this a right-wing message, a left-wing message, both, neither, who cares? https://t.co/DI9Q6WDYmh

— Glenn Greenwald (@ggreenwald) February 6, 2023

It’s very easy to be black-pilled and negative about everything these days but does Bret Weinstein make some good points?