In this podcast, the hosts discuss the failure of Silicon Valley Bank and the events leading up to it. They dive into the details of what really happened and why the bank failed. The conversation also touches on treasury bonds and whether the government’s actions can be considered a bailout or a backstop. The potential consequences of not making all depositors whole are explored, as well as which other banks may be at risk. Finally, the discussion concludes with an analysis of how the failure of Silicon Valley Bank could affect mortgage interest rates and rates in general in the future.