Documents show that the CEO of Silicon Valley Bank (SVB) sold $3.6 million in shares of the failed financial institution’s parent company several weeks before its collapse—the biggest U.S. bank failure since 2008 that sent a shudder of anxiety across markets. A filing with the Securities and Exchange Commission (SEC) shows that Greg Becker, who joined…
Finance Sector Braces for Shockwaves After Silicon Valley Bank Collapse
March 10, 2023
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Business & MarketsCompanieseconomyMarketsMedia & Big TechrecessionSilicon Valley BankstocksSVBUSUS News
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It took only 48 hours for Silicon Valley Bank to become the nation’s second-largest bank failure. The company’s problems started on Wednesday when the financial institution informed investors that it needed to generate $2.25 billion to cover an unexpected decline in deposits and improve its balance sheet and overall financial position. In a letter to…
The Collapse of SVB Portends Real Dangers
March 10, 2023
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Bank Runbanking industryBusiness & MarketsBusiness ColumnistsFederal Reservefinancial crisisinflationinterest ratesOpinionrecessionSilicon Valley BankSVBU.S. economyViewpoints
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Commentary Thus far in this 3-year fiasco of mismanagement and corruption, we’ve avoided a financial crisis. That’s for specific reasons. We just had not traveled there in the trajectory of the inevitable. Are we there yet? Maybe. In any case, the speed of change is accelerating. All we await is to observe the extent of…
LIVE NOW: NTD Business (March 10): Silicon Valley Bank Seized After Bank Run; Elon Musk Building ‘Utopia’ Town: WSJ
A big bank collapses in the United States, and a federal agency steps in–to protect customers from losing all their money. Billionaire Elon Musk is reportedly building a town in Texas for his employees to live. We get some reactions. Another company, coming out with a generative AI tool–this time, to help you write. Why are…
NTD Business (March 10): Silicon Valley Bank Seized After Bank Run; Elon Musk Building ‘Utopia’ Town: WSJ
A big bank collapses in the United States, and a federal agency is stepping in to protect customers from losing all their money. Billionaire Elon Musk is reportedly building a town in Texas for his employees to live. Another company is coming out with a generative AI tool—this time, to help you write. Why are…
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