If I were to give in to my religious aspirations, I would be pointing out the hand of God in the recent downfall of Israeli companies that openly declared their desire to destroy Israel’s economy only to be hit by the collapse of the Silicone Valley Bank (Israel Supporting Hi-Techs that Pulled Out Billions to Destroy Its Economy in Judicial Reform Protest).
But whether you believe in the hand of God, karma, or just luck, you have to agree that one recent agent of chaos that tried to arm-wrestle with Netanyahu’s government, the credit rating company Moody’s, stood out among its competitors in predicting a dark future for Israel (Moody’s Ultimatum to Netanyahu: Stop Judicial Reform or Face Diminished Credit Rating) – that agent of chaos has now taken it on the chin big time.
Listen to this: On March 10, Moody’s downgraded SVB Financial Group to C and announced it will withdraw the failed bank’s previous rating given three days earlier. That previous rating was A3.
In the future, should investors wish to rely on Moody’s judgment, all they need to do is check out their enthusiastic support of SVB the same week it lost $80 billion and went into receivership. Just imagine it’s your $80 billion you are trusting to Moody’s ability to predict the market.
Meanwhile, those Israeli hi-techs who tried to unsettle their country’s economy by dumping their money in SVB, have now brought back––by the skin of their teeth––an estimated $4 billion they salvaged from the disaster area overseas.
“So may all Your enemies perish, O God, and may Your lovers be as the mighty sun rising.” (Judges 5:31)