Sundry Edition
A Biweekly Newsletter by Salt of the Earth Consulting, LLC
Vol. 16 | April 12, 2023
At Salt of the Earth Consulting, we created Sundry Edition as a way to further our mission to be a trusted and beneficial partner within our community. Each newsletter includes a curated list of articles that fit a theme within the financial services industry. And, because at SOTE we each share a passion for music, we always include a few song recommendations!
What’s the Word on SVB – Pt. 3
In this Sundry Edition we are highlighting the discussions that are continuing to take place about the current banking situation. If you missed the first two installments of our series, you can read part one and part two on our website.
These past few weeks have raised a good deal of concern about the financial system as a whole, and as things are starting to settle down it is important that we reflect on the details of the situation. In a past Sundry Edition, we shared a Barron’s article with SOTE Founder Kathy Dick’s thoughts on whether regulators had the tools they needed to prevent the recent bank failures. More recently, Kathy spoke with Kyle Campbell at American Banker about the concern of systemic risk, as well as Bill Alpert at Barron’s about the specific risks financial institutions face with commercial real estate. Both articles are linked below.
Last week, Gillian Tett, editor-at-large of Financial Times US, shared what she learned from the three banking crises that she has watched unfold during her career. She also notes in the article (linked below) the five key lessons she believes are worth remembering. And do not be surprised if you receive a part four to this series in a couple of weeks, as we learned Monday that Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez, both vocal critics of SVB, sent letters to SVB depositors on Sunday to request details about their relationship with the bank. They have asked for answers to be provided by April 24.
Let’s continue this conversation. At SOTE, risk management is one of our main areas of expertise, and we firmly believe that even with strong risk management it is always a good practice to get regular feedback. We would love for you to connect with us on LinkedIn, read more about our services, or get in touch.
What We’re Reading…
*These articles contain quotes and insights from SOTE’s Kathy Dick.
If you’re in the market for a new book, I recommend The Lost Bank by Kirsten Grind. It details the Washington Mutual bank failure, and as I’m reading it now I see so many similarities between this and the current situation with SVB.
– Kathy Dick, SOTE Founder & CEO
What We’re Listening To…
Don’t Blame Me
Taylor Swift
What a Time To Be Alive
Fall Out Boy
Do The Panic
Phantom Planet
Salt of the Earth Consulting 