'Big Short' Investor: SVB Crisis Is Accelerating Economic SlowdownDanny Moses is pessimistic after Silicon Valley Bank's demise.
BySteve Huff•
InThe Big Short, author Michael Lewis profiled some traders who foresaw and, in some cases, profited from the 2008 financial crisis. One of them wasDanny Moses, whom actor Rafe Spall ultimately played in the Academy Award-winning2016 movie based on the book. Moses is still speculating about the economy. In aCNBC interviewbroadcast Tuesday, he said that the collapse of Silicon Valley bank only worsens the US economy's slowdown.
Moses said to anyone who believes the US economy is "going to slow down,"SVB“加速减速,因为银行不得不really pull back in their activities." Before SVB's meltdown, the economy was already in questionable shape. Inflation has been on the rise and theFedhas sharply increased interest rates in the last year. Moses believes that if the bank collapse wasn't the straw that broke the camel's back, it was close.
Consumers, Moses told CNBC, "can't assume that the regulators have any idea what they're actually dealing with now considering that they were completely caught off guard ... by what just happened at Silicon Valley Bank." And, as far as Moses is concerned, the fact the US government quickly bailed out SVB on Monday "should make people nervous."
Moses was directly critical ofSVBwhenspeaking to theNew York Timesfor an article chronicling the bank's recent woes. "This isn't greed, necessarily, at the bank level," he told theTimes, "It's just bad risk management. It was complete and utter bad risk management on the part of SVB."
In his CNBC interview, Moses said that if the Federal Reserve believes the currently unsteady state of the economy "is just going to go away," they are "kidding themselves."