About the modern financial infrastructure that the world sits atop of.

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I write about once a week, on the intersection of tech, financial infrastructure, and systems thinking. It's free.

Recent editions of BAM

Requiem for a bank loan

A brief retrospective on an attractive product First Republic used to offer, and a wider discourse on the banking crisis.

Deposit franchises as natural hedges

Many observe that banks seem to be blowing up due to predictable consequences of rising interest rates. How did we get here?

Deposit insurance maximization as a service

In the wake of the recent banking crisis, there is some attention to deposit insurance limits. Some products increase them; here is how.

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