Guest Post by John Derbyshire
The big talking point of the week was the collapse of Silicon Valley Bank, with a couple of hundred billion in assets evaporating overnight and blowing away on the morning wind.
I ought really to be more interested in this than I actually am. I only became a rootless bohemian 22 years ago. Prior to that I was a middle-class shlub, with a salaried job at a respectable firm—an investment bank, in fact.
I wasn’t a hot-shot trader, more’s the pity. I was a back-office worker bee, a cube jockey designing and writing software for the bank’s Credit and Risk Management Department.
