This is the claim banks going under ppl lost their money…. Ppl thrown in jail. You realize the tax payer will bail them out. ‘ Dig deep pay some mo money” just like Jimmy Carter use to say.
March 10, 2023 at 12:25 PM EST
Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis
The tech-focused bank was closed by regulators on Friday after attempts to raise more capital failed.
www.cnbc.com
The White House said Treasury Secretary Janet Yellen was “watching closely.” The administration sought to reassure the public that the banking system is much healthier than during the Great Recession.
“Our banking system is in a fundamentally different place than it was, you know, a decade ago,” said Cecilia Rouse, chair of the White House Council of Economic Advisers. “The reforms that were put in place back then really provide the kind of resilience that we’d like to see.”
One of Silicon Valley's top banks fails; assets are seized
Regulators have seized the assets of one of Silicon Valley’s top banks, marking the largest failure of a U.S. financial institution since the height of the financial crisis almost 15 years ago
abcnews.go.com
First Republic, other regional bank stocks sink after failure of Silicon Valley Bank
First Republic, other regional bank stocks sink after failure of Silicon Valley Bank
The declines on Friday were building on large sell-off from Thursday.
www.cnbc.com
SVB collapse highlights $620 billion hole lurking in banks’ balance sheets
BYCHRISTIAAN HETZNERMarch 10, 2023 at 12:25 PM EST
SVB cash crunch highlights $620 billion hole in banks’ balance sheets
The spike in interest rates has been devastating for the value of their securities portfolios, meaning many carry around billions in unrealized losses that could pose a problem if funding dries up.
fortune.com