Michael Ng @mjng_93
Head of Data Science @hellointrinsic. @KelloggSchool MBA. Formerly @nike, @BrookingsEcon, @federalreserve. Tweeting about econ, data, sports. Views my own. linkedin.com/in/michael-ng-… Washington, DC Joined June 2017-
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Payrolls: +311,000 Unemployment: 3.6% Prime-Age Employment Rate: 80.5% (Highest since Feb 2020!)
1/ @LinkedIn Hiring Rate update: February was unfortunately a month of bad news: The US LHR was down 6.5% M/M seasonally adjusted, the biggest 1 month decline since 2020. Hiring is now down 30.8% from April 2022 (when declines began), and 27.9% Y/Y.
Today we release LLaMA, 4 foundation models ranging from 7B to 65B parameters. LLaMA-13B outperforms OPT and GPT-3 175B on most benchmarks. LLaMA-65B is competitive with Chinchilla 70B and PaLM 540B. The weights for all models are open and available at research.facebook.com/publications/l… 1/n
1/5 🧵on changes in thinking in just 2 weeks Today's forward curve (cyan) is now equal to the year-end Fed's (blue), This is a HUGE move from Feb 2 (green). A pivot is no longer priced in. Also, for the first time this cycle, the market is pricing MORE hikes than the Fed.
My unwavering opinion on current (auto-regressive) LLMs 1. They are useful as writing aids. 2. They are "reactive" & don't plan nor reason. 3. They make stuff up or retrieve stuff approximately. 4. That can be mitigated but not fixed by human feedback. 5. Better systems will come
Monthly inflation continues to be mostly a story about core services (including housing)—though January also saw smaller positive contributions from volatile food and energy prices.
US CPI Headline Inflation in Jan was 6.35% YoY (down from 6.44% in Dec) and 0.5% MoM (up from 0.13% in Dec). Core CPI was 5.55% YoY (down from 5.7% in Dec) and 0.41% MoM (flat against 0.4% in Dec). Bar chart is MoM, line chart YoY. Mixed signals with most of MoM driven by shelter
Hottest items in January (YoY): Food at elementary/secondary schools: 301.9% Eggs: 70.1% (Up from 59.9% in December) Margarine: 44.7% Butter: 26.3% Airline fares: 25.6% Lettuce: 17.2% Public transportation: 17.1% Household energy: 15.8% Coffee: 12.8% Food at home: 11.3%
“We came up short. I think the beautiful part about it is everyone experiences different pains, everyone experiences different agonies of life, but you decide if you want to learn from it. You decide if you want that to be a teachable moment. I know I do.” -Jalen Hurts
1st half offensive domination: Eagles turned 20 1st & 10s (or 1st & goal) into 17 new 1st downs (or touchdowns)
Philadelpiha MUST HAVE POLEWATCHERS!
Though they are big advancements, the quick rollout of LLM AI tools in Google search and Bing presents serious risks. People like @timnitGebru have long warned of bias, accuracy and climate risks of LLMs. Potential for crisis of trust if done wrong wsj.com/articles/the-a…
JUST IN: The US economy gained an astonishing 517,000 jobs in January – much better than expected. Unemployment rate: 3.4% --> Lowest in decades. Wages: +4.4% for past year (up 0.3% in January) Bottom line: This is NOT an economy in recession
Today's Employment Cost Index release confirmed that aggregate US labor income growth—a core driver of inflation—continues to decline and looks to be approaching pre-pandemic levels.
Global growth remains weak, but it may be at a turning point. We have slightly increased our 2022 and 2023 growth forecasts. Global growth will slow from 3.4% in 2022 to 2.9% in 2023 then rebound to 3.1% in 2024. imf.org/WEO-jan23
PCE report highlights a broad based deceleration of household demand. Nominal income slowing, nominal spending weakening, headline PCE inflation slowing and core remaining low. In line with retail sales and employment report wages and indicates HH feeling the pinch. Thread:
Philly Nick is FIRED UP
Yeah like they were saying. Anybody would look great at QB for the Eagles.. yeah ooook. HATERS MAN!! Jalen Hurts is SPECIAL. 🤡’s
Retail sales showed weak Nov & Dec, though since its nominal, the composition doesn't match CPI, and prices are moving around important to try to get the right deflators. Below is my cut. All numbers are not annualized. Take in thread.
I object to this chart, because it turns out that the reconstruction of a single location based on an ice core drilled 40 years ago in Greenland that ends in 1885 is not a good representation of global temperatures. If we use hundreds of sites and proxy records worldwide we get:
I object to this chart, because it turns out that the reconstruction of a single location based on an ice core drilled 40 years ago in Greenland that ends in 1885 is not a good representation of global temperatures. If we use hundreds of sites and proxy records worldwide we get: https://t.co/ntjG3NY3M9
David Wessel @davidmwessel
84K Followers 1K Following Director, Hutchins Center on Fiscal & Monetary Policy, Brookings. My latest book "Only the Rich Can Play," the story of Opportunity Zones.
Ben Casselman @bencasselman
72K Followers 3K Following Econ/business reporter @nytimes. Formerly @fivethirtyeight @WSJ. Adjunct @newmarkjschool. He/him [email protected] Photo: Earl Wilson/NY
Skanda Amarnath @IrvingSwisher
26K Followers 5K Following Executive Director - @employamerica. RTs/likes != endorsements. https://t.co/tKsuuvVYoc @skandaamarnath on other sites. Charitable interpretation advised
JoanMcCarthy @mq7VmTbbxLFf6
0 Followers 167 Following
ConstanceBurns @LN23hzjH93U3pU
0 Followers 72 Following
Duepsew @DuepsewiRymCSY
0 Followers 91 Following
Frawfore @FrawforeQ58xe
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Slarsethair @SlarsethairGT8
0 Followers 218 Following
AuroraPaul @IDy7qLra2j6pfL
0 Followers 180 Following
Mimi Dorion @MimiD22258
71 Followers 5K Following
Francisca Jarell @FJarell62051
42 Followers 5K Following
Eloise Eschmann @EloiseEsch40267
94 Followers 5K Following
Ellena Beiswanger @EllenaB19637
84 Followers 5K Following
Ocie Mapua @OMapua76060
66 Followers 5K Following
Shawn Cuffia @ShCuffia
43 Followers 5K Following
Julee Schilling @SchillingJ25750
68 Followers 5K Following
Cheryle Dudik @cheryle94435
87 Followers 5K Following
Sylvia Jimenz @SylviJimen
16 Followers 3K Following
Stephane Lacharite @StephaLachari
29 Followers 5K Following
Raya Allensworth @Allenswort30638
39 Followers 5K Following
Ansley Neat @ansley_ne
92 Followers 5K Following
Alessandra Teater @alessan_teat
61 Followers 5K Following
Isla-rose Kusko @IslaKusko41590
84 Followers 5K Following
Lavonne Pizzitola @LavonnePiz18220
32 Followers 5K Following
Mui Lukaskiewicz @lukaskiewi56060
36 Followers 5K Following
Baileigh Izzo @BaileighI21893
37 Followers 5K Following
Nysa.network @nysa_network
1K Followers 587 Following Trust and Secure interchain blockchain validator $TIA $INJ $JUNO $STARS $KI $CHEQ $ORAI and many mord - @CosmWasm developers
Thatea @Thatea265738
24 Followers 2K Following
June Runyan @RunyanJune4543
96 Followers 3K Following
Delilah Raulerson @DelilRaulers
49 Followers 5K Following
Giuliana Degirolamo @GiulianaDe59112
44 Followers 5K Following
Lakenya Claybrooks @ClaybrooLaken
46 Followers 5K Following
md Shafi Uddin @6736Shafi
74 Followers 606 Following Open Source Contributor |JAVA | DSA | SQL | OOPS | FULL STACK WEB DEV | DATA SCIENCE
Soraya Harbick @HarbickSor
40 Followers 5K Following
Mui Skoczylas @skoczy_m
37 Followers 5K Following
Sari Hovis @hovi_sar
40 Followers 5K Following
Kyung Rodewald @KyRodewa
52 Followers 5K Following
Ishika Lugg @IshLug
53 Followers 5K Following
Dorine Thaller @ThalleDori
64 Followers 5K Following
Wai Vandoren @VandorenWa84021
78 Followers 5K Following
Shirley Beamish @shirley44447
69 Followers 5K Following
Charleigh Fabus @FabCharlei
66 Followers 5K Following
Rosie Harbison @harbis_ros
106 Followers 5K Following
Belle Beals @BBeals61582
54 Followers 5K Following
Jason Furman @jasonfurman
158K Followers 2K Following Professor of Practice at Harvard. Teaches Ec 10, some tweets might be educational. Also Senior Fellow @PIIE. Was Chair of President Obama's CEA.
Adam Ozimek @ModeledBehavior
83K Followers 870 Following Chief economist at @InnovateEconomy. Host of the EconTwitter Water Cooler, live on twitter spaces and downloadable here: https://t.co/toyjfDruRu
Noah Smith 🐇🇺�.. @Noahpinion
322K Followers 1K Following Writes about economics, posts about rabbits. For serious opinions/analysis, read my blog: https://t.co/KfUxUlCYPz
David Beckworth @DavidBeckworth
26K Followers 995 Following Senior Research Fellow @mercatus || Podcast Host at https://t.co/gGaA18fTY2 || Former U.S. Treasury Economist || Micah 6:8
David Wessel @davidmwessel
84K Followers 1K Following Director, Hutchins Center on Fiscal & Monetary Policy, Brookings. My latest book "Only the Rich Can Play," the story of Opportunity Zones.
Joey Politano 🏳️.. @JosephPolitano
65K Followers 1K Following Writing a data-driven newsletter about economics @ https://t.co/IanQ9oPoPi | Nuance? In this economy? | he/him | Bi/pan
Guy Berger @EconBerger
12K Followers 3K Following Director of Economic Research at the Burning Glass Institute. I tweet a lot about labor markets, macro, and (sorry) music! Tweets represent my own views.
Ben Casselman @bencasselman
72K Followers 3K Following Econ/business reporter @nytimes. Formerly @fivethirtyeight @WSJ. Adjunct @newmarkjschool. He/him [email protected] Photo: Earl Wilson/NY
Nick Bunker @nick_bunker
15K Followers 2K Following economics at @indeed. working dad of two. ❤️ 📈 (he/him)
Julia Coronado @jc_econ
18K Followers 1K Following Founder MPP (yeah you know me), UT Austin Prof, NABE Prez Former: chief economist at various financial firms & Fed economist Passionate @ family, macro, cats
David Andolfatto @dandolfa
32K Followers 2K Following Construction worker turned academic turned central banker turned academic again. Chair, Economics Department @MiamiHerbert University of Miami
Ernie Tedeschi @ernietedeschi
30K Followers 2K Following Personal account. Director of Economics at @The_Budget_Lab. Former Chief Economist at @WhiteHouseCEA; Evercore ISI; @USTreasury; @UpshotNYT.
Gregory Daco @GregDaco
18K Followers 2K Following Chief Economist @EYnews, @EY_US, @EY_Parthenon. Previously Chief Economist @OxfordEconomics, @IHSMarkit. Father of 3. Husband of 1. 🇺🇸 & 🇧🇪. Views are mine
Josh Barro @jbarro
285K Followers 2K Following I write a newsletter (at https://t.co/ZoyMCO4aN5), I host the Very Serious podcast, & I co-host https://t.co/UzPB0fX8QJ w/ @popehat Email josh at joshbarro dot com
Jeanna Smialek @jeannasmialek
66K Followers 2K Following Federal Reserve and economy reporter @nytimes. Pittsburgh native, Tar Heel. Wrote a book on central banking's new era, link below.
Joe Weisenthal @TheStalwart
356K Followers 6K Following One half of Bloomberg's Odd Lots Podcast. One quarter of Light Sweet Crude.
Richard V. Reeves @RichardvReeves
32K Followers 5K Following Dad. Writer. Speaker. Policy wonk. President of the American Institute for Boys and Men @aibm_org via @BrookingsInst.
Mark Muro @MarkMuro1
11K Followers 2K Following Senior fellow and policy director, Metropolitan Policy Program at Brookings. Interested in innovation, regions, the clean economy and lots of other stuff
Diane Swonk @DianeSwonk
47K Followers 615 Following Chief Economist, @KPMG_US. Briefs Federal Reserve. Trained labor economist. 36 yrs experience in financial services & consulting . RTs not endorsements. She/her
Eugene Yan @eugeneyan
17K Followers 602 Following ML, Recsys, LLMs @ Amazon. Prev: Alibaba, Lazada, IBM, startup. Building ML systems to serve customers at scale; Writing to learn & teach.
AI Engineer @aiDotEngineer
8K Followers 4 Following A network of software engineers enhanced by and building AI products & infra. Join 2k AI Engineers & Founders at World's Fair '24 in SF, June 25-27. #AIEWF
Ivan Leo @ivanleomk
2K Followers 745 Following Professional GPT wrapper writer, I write longer tweets at https://t.co/02byZNKMa8
Alessio Fanelli @FanaHOVA
5K Followers 991 Following Cohost @latentspacepod | Partner & CTO @decibelvc | OSS: https://t.co/u4J6NVksoL | Writing: https://t.co/H7iEpzgxWQ
Latent Space Podcast @latentspacepod
9K Followers 43 Following The first place over 50k AI Engineers gather to talk models, tools and ideas. Breaking news today you will use at work tomorrow! Hosted by @swyx and @fanahova
swyx @swyx
91K Followers 3K Following Anti-ego ideas for anti-ergodic life. Founder, @smolmodels ▹ Listen: @latentspacepod ▹ Read: @coding_career ▹ Join: @aiDotengineer
Kev | Stop Genocides .. @NBACouchside
5K Followers 3K Following
Peter Schrager @PSchrags
465K Followers 6K Following Peter Schrager-- Senior National Writer for https://t.co/qN5auHCcia, Good Morning Football (@gmfb), GQ, and co-author of NYT Best Seller, 'Out of the Blue'
Warren Sharp @SharpFootball
360K Followers 879 Following Inventing custom, predictive NFL analytics & visualized data at https://t.co/iKdUa4MmXQ | @SportsGrid | @ringer | no days off notifications on 🔔
Garry Tan @garrytan
434K Followers 4K Following President & CEO @ycombinator —Founder @Initialized—PM/designer/engineer who helps founders—YouTuber—San Francisco Democrat accelerating the boom loop—e/acc
Byrne Hobart @ByrneHobart
50K Followers 1K Following Types fairly fast. Tweets are map, not territory.
Ergest Xheblati @ergestx
8K Followers 989 Following Data + Business | Author: Minimum Viable SQL Patterns | Newsletter: Data Patterns (see links below)
Retro Tech Dreams @RetroTechDreams
173K Followers 246 Following Retro tech, early web & vintage computing. 80s, 90s, 2000s nostalgia. Follow for daily posts.
Daniel Kwan @dunkwun
61K Followers 301 Following 1/2 of DANIELS Swiss Army Man EVERYTHING EVERYWHERE ALL AT ONCE
Cody Houdek @codyhoudek
3K Followers 811 Following HS English Teacher; Podcasts and Player Scouting for Thinking Basketball;@PremiumHoopsNBA and Sense and Scalability forever!; @Bucks fan Black Lives Matter
Stella Biderman @BlancheMinerva
15K Followers 748 Following Open source LLMs and interpretability research at @BoozAllen and @AiEleuther. My employers disown my tweets. She/her
Guillaume Lample @GuillaumeLample
37K Followers 648 Following Cofounder & Chief Scientist https://t.co/hLfvKLkFHd (@MistralAI). Working on LLMs. Ex @MetaAI | PhD @Sorbonne_Univ_ | MSc @CarnegieMellon | X11 @Polytechnique
Video Games Cityscape.. @GamesCityscapes
51K Followers 62 Following A place to showcase beautiful urban environments in video games. Run by the same guy behind @game_obscure DM for submissions.
Lewis Tunstall @_lewtun
9K Followers 425 Following 🤗 LLM engineering & research @huggingface 📖 Co-author of "NLP with Transformers" book 💥 Ex-particle physicist 🤘 Occasional guitarist 🇦🇺 in 🇨🇭
Hugging Face @huggingface
346K Followers 189 Following The AI community building the future. https://t.co/VkRPD0VKaZ #BlackLivesMatter #stopasianhate
Bella Ramsey @BellaRamsey
461K Followers 423 Following
Peter Yang @petergyang
128K Followers 2K Following I share tips and humor about how to level up your product and creator skills | Join 80,000+ readers at https://t.co/NSo5VypmoS | Product at Roblox
Exploding Topics @explodingtopics
32K Followers 200 Following Discover rapidly growing trends before they take off.
vicki @vboykis
52K Followers 1K Following Born: USSR. Raised: USA. ML Eng @mozillaai Ex: @duosec @Tumblr, @automattic Nights: 👦 & 👧 working on some ✨ new vectors ✨
Andrew Lampinen @AndrewLampinen
7K Followers 1K Following Interested in cognition and artificial intelligence. Research Scientist @DeepMind. Previously cognitive science @StanfordPsych. Tweets are mine.
Barry McCardel @barrald
3K Followers 929 Following co-founder and CEO of Hex (https://t.co/hbgguInF1h / @_hex_tech) - muppet - personal site: https://t.co/c38nDG5Dfl
Nicolas Papernot @NicolasPapernot
10K Followers 665 Following Security and Privacy of Machine Learning @Uoft @VectorInst @Google 🇫🇷🇪🇺🇨🇦 Co-author https://t.co/VJF39DQPCu; @CentraleLyon + @PSUEngineering alumnus. Opinions mine
John 🧀 ... 🧀 @JohnMu
170K Followers 642 Following Make the web you want to find. He/Him/Cis ᐧ Google Search Advocate ᐧ Posts my own, not for resale ᐧ Official: @GoogleSearchC & https://t.co/FZQ90CoJkm
Celebrity Packaged Go.. @foundedbycelebs
3K Followers 3 Following We cover everything celebrity + creator commerce: brands, endorsements, and investments
AJ Orbach - e/ia 🐳 @AY_Orbach
4K Followers 988 Following Co-Founder @triplewhale building the Smart Data Platform
𝐋𝐨𝐰 𝐏𝐨.. @PolyDepression
143K Followers 334 Following | Vohyak | 🌴 90s & 00s gaming creator, curator and artist 💾 OC and retro preservation ☻ @GOGcom Partner Biz: [email protected]
Austin Frakt @afrakt
25K Followers 0 Following Health Economist with the Veterans Health Administration, Boston University, and Harvard University • Editor-in-Chief @HSR_HRET • Trumpet player 🎺
Aaron E. Carroll @aaronecarroll
54K Followers 357 Following President/CEO of @academyhealth HSR-Researcher/Author/Pediatrician. I make videos/podcasts @HCTriage & write for @NYTOpinion. Tweets represent me and me alone
Margot Sanger-Katz @sangerkatz
50K Followers 2K Following Covering health care metaphors at @nytimes @upshotnyt. Popcorn enthusiast. #wthealth
Paige W. Cunningham @pw_cunningham
14K Followers 1K Following Deputy Washington editor at @washingtonpost. Tips to paige.cunningham (at) washpost (dot) com. DM's open.
Stephanie Armour @StephArmour1
15K Followers 2K Following Wall Street Journal senior healthcare policy reporter. Email tips to [email protected] or DM for Signal.
Reed Abelson @ReedAbelson
12K Followers 1K Following Following the money in health care for NYT. Fond of good books, old movies, dogs and one particular cat. A RT is just a RT. [email protected]
Doris Lee @dorisjlee
1K Followers 389 Following 🚀 Product @SnowflakeDB ⚡ Prev. Cofounder & CEO of @ponderdata 🎓 @BerkeleyISchool PhD, @IllinoisCS, Astro+Physics @Berkeley
SNL Hosts Introducing.. @snlhostsintro
166K Followers 19 Following it's just snl hosts introducing the musical guest
Nate Tice @Nate_Tice
74K Followers 1K Following Life journeyman. There’s nothing prettier than a Randy Savage elbow drop. Podcasts: @TheAthletic Words words words: @YahooSports Email: [email protected]
AJ BROWN @1kalwaysopen_
261K Followers 344 Following
𝙼𝚊𝚌𝚕𝚞�.. @PSRetro_
21K Followers 115 Following 𝕾𝖔𝖒𝖊𝖙𝖎𝖒𝖊𝖘 𝖔𝖑𝖉, 𝖘𝖔𝖒𝖊𝖙𝖎𝖒𝖊𝖘 𝖓𝖊𝖜. 𝕷𝖔𝖛𝖊𝖗 𝖔𝖋 𝖆𝖑𝖑 𝖙𝖍𝖆𝖙 𝖎𝖘 𝖍𝖔𝖗𝖗𝖎𝖋𝖎𝖈. ∆. 𝔍𝔬𝔦𝔫 𝔘𝔰 👇
Joe Pompliano @JoePompliano
599K Followers 2K Following Sports + Business | Investing at Pomp Investments | Host of The Joe Pomp Show | Join 120,000+ others who read my 3x weekly newsletter:
sam lessin 🏴☠.. @lessin
50K Followers 459 Following Intern @theinformation. GP @slow. Fmr VP Product Facebook. co-founder dropio and fin. https://t.co/N6JqjBvF1o
After a long time of work, I am pleased to announce that we have added support for the NBA API version 3 endpoints to the nba_api package. Upgrade package: pip install nba_api --upgrade github.com/swar/nba_api/r… @py_ball_ @DSamangy @sportsdataverse @PySportOrg #Python
What we are seeing right now with the small banks is pretty normal in any traditional macro tightening cycle. The rise in rates not only has an impact on the macro economy through higher cost of credit, etc, but it also exposes those most sensitive to rates and liquidity.
@federalreserve @abhabhattarai @USTreasury @FDICgov No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.
The 2008 Great Financial Crisis would have been so much worse if social media hadn’t been in its infancy Government had to step in with an unpopular but necessary solution. One that involved a lot of compromise and nuance Might not be possible today
Real 10x engineers have no public github activity because they are being paid
Lindsey is the story - thx for your courage. She deserves to have her savings / deposit protected. Not a dollar more for anybody. There are plenty of assets - the FDIC, Fed and Treasury need to speak with clarity NOW that this is over. Sell the assets - deposits 100% protected.
Hi, I’m Lindsey. A bit about me: - Ohio mother of 4 - I employ a team of 15 as a start-up founder & CEO of Strongsuit - drive a used Honda Odessey - husband works in manufacturing - The financial future of my company, team and family are at risk w/ the collapse of SVB (1/23)
Regional bank SVB goes under, and the US govt doesn't look like it will fully standing by depositors *San Francisco Little League* is worried about a bank run everywhere Depositors must be made whole, otherwise all the little guys will suffer
SVB. Wipe out all the fat cats. Sell the assets and send $$ to the folks like this who are rightfully stressed and did nothing wrong. @theallinpod
Idk who needs to hear this, but not everyone in tech is rich. Some have massive student loans. Some are 1st gen supporting their parents. Some are in non-engineering/product roles. David Sachs or Elon aren’t going to see your snarky tweets, but tons of people trying to get by…
Hi, I’m Lindsey. A bit about me: - Ohio mother of 4 - I employ a team of 15 as a start-up founder & CEO of Strongsuit - drive a used Honda Odessey - husband works in manufacturing - The financial future of my company, team and family are at risk w/ the collapse of SVB (1/23)
Silicon Valley Bank’s shareholders and executives lose it all, as they should. Depositors in good faith, however, should recover and have access to their deposits in order to meet their payrolls, pay their suppliers, and to prevent contagion.
When TARP was voted down the first time on 9/29 the S&P fell 9%. 10/3 it was law. Hearing from political folks a desire to wait and see, hesitant to act swiftly to contain risks. That inclination is normal, but delay typically just brings larger eventual action with more cost.
The SVB discourse has already turned into a background hum of nonsense. The FDIC will work to make depositors whole because the alternative will both devastate the tech sector and lead to more bank runs. Victim blaming depositors is schadenfreude pretending to be business savvy
Hearing from some insiders: -big banks actively working on buying svb business -fdic considering insurance / liquidity covering up to 95pct of uninsured depositors to acquirer -Monday 250k on track -50pct of uninsured paid out next wk Cant confirm myself but seemed worth sharing
The tragedy of SVB is that its not the wealthy taking the hit. It's the thousands of companies who borrowed from SVB and were required to keep their cash in SVB. Those entrepreneurs and their employees and vendors are feeling the pain. And they are who the Fed should protect
At some point it would be really nice if those of us trying to run companies could go a solid 12 months without a once-in-a-generation black-swan macroeconomic event
Giannis Antetokounmpo with next level risk-management skills
One thing: This isn't 2008. The assets that are the problem here aren't toxic real-estate garbage, they're, like, Treasurys. Everyone can figure out what they're worth, sell them, lend against them, etc. The FDIC should be able to advance money to uninsured depositors pretty fast
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