'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."

Steve Huff

Entrepreneur Staff

Related Topics

Starting a Business

鲨鱼坦克最成功的品牌之一n't Even Supposed to Be a Business at First. Here's How It Became One With $1 Billion in Lifetime Revenue.

Randy Goldberg and David Heath co-founded Bombas, a comfort-focused sock and apparel brand on a mission to help those in need, after an eye-opening discovery on Facebook.

Leadership

5 Books That Will Change The Way You Think About Being an Effective Leader

Want to improve the way you lead? Learn from those who blazed the trails you hope to follow.

Business Ideas

55 Small Business Ideas to Start in 2023

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2023.

Health & Wellness

Get a Lifetime Jillian Michaels Fitness App Subscription for $150 in October

This high-end fitness app is on sale this week only.

Business Solutions

Make iOS Navigation Easier with This Handy App, Now Just $19.97 for Life

This app helps ensure smooth iOS management across devices.

Living

Unleash Unshakable Confidence in 7 Days: The Neuroscience-Backed Blueprint

In the cut-throat business world, self-doubt can be the difference between success and failure, costing you everything.