Category: SVB

Federal Government Has 48 Hours to Fix ‘Irreversible Mistake,’ Billionaire Says

March 12, 2023
Business & MarketscollapseCompanieseconomySVBUS
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Several billionaires issued warnings over the weekend after the Silicon Valley Bank suddenly collapsed late last week and forced the federal government to step in. Billionaire investor Bill Ackman wrote Saturday that the federal government had about two days to fix the problem—by Monday morning. He noted that a number of depositors may not see…

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Is Your Bank Safe? 

March 11, 2023
Brightdepositorsfinancial marketsinvestorsOpinionpersonal financeSVBViewpoints
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Commentary Silicon Valley Bank (SVB), the country’s sixteenth-largest bank with $209 billion in assets, failed on Friday in one of the most shocking developments to hit the banking sector since the global financial crisis fifteen years ago. SVB’s claim to fame was its deep connection to the venture capital and tech community of Silicon Valley, boasting…

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Finance Sector Braces for Shockwaves After Silicon Valley Bank Collapse

March 10, 2023
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…

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Treasury, White House: Confident in Regulators Response on Silicon Valley Bank Collapse

March 10, 2023
Business & MarketsCompanieseconomyExecutive BranchPoliticsregulatorSVBUSyellen
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WASHINGTON—Treasury Secretary Janet Yellen met with banking regulators on Friday on the collapse of SVB Financial Group as she and the White House expressed confidence in their abilities to respond to the largest bank failure since the 2008 financial crisis. Yellen met with officials from the Federal Reserve, the Federal Deposit Insurance Corporation, and the…

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The Collapse of SVB Portends Real Dangers

March 10, 2023
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…

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Silicon Valley Bank Fails, FDIC Steps in to Protect Depositors From Losing All Their Money

March 10, 2023
Bank RunBusiness & MarketsCompaniesdepositseconomic policieseconomyFDICInvestmentpersonal financeSVBUS
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The Federal Deposit Insurance Corporation (FCIC) has assumed control of Silicon Valley Bank (SVB) to protect depositors from losing all of their money after it was closed by the California Department of Financial Protection and Innovation. Federal banking regulators on March 10 took custody of the country’s 16th largest bank, which was a top lender for American…

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FDIC Takes Control of Silicon Valley Bank After Its Collapse

March 10, 2023
Bank RunBusiness & MarketsCompaniesdepositseconomic policieseconomyFDICInvestmentpersonal financeSVBUS
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The Federal Deposit Insurance Corporation (FCIC) has assumed control of Silicon Valley Bank (SVB) to protect depositors from losing all of their money after it was closed by the California Department of Financial Protection and Innovation. Federal banking regulators on March 10 took custody of the country’s 16th largest bank, which was a top lender for American…

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Silicon Valley Bank’s Shares Tank, Triggering Financial Sector Panic

March 10, 2023
bank stocksBusiness & MarketsCompanieseconomyinflationInvestmentMarketsSVBTechtech industryUSWorld
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Silicon Valley Bank’s shares have tanked, causing panic in the financial sector to spread from Wall Street to Europe and Asia. This comes after the lender announced it would sell shares at a loss in order to cover rapidly declining customer deposits. Silicon Valley Bank (SVB) Financial Group, a bank which lends primarily to tech companies, told investors…

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A Run on the Banks

March 10, 2023
bankBank RunBusiness & MarketsBusiness ColumnistsCompanieseconomySVBUSUS News
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Commentary On Mar. 9, Silicon Valley Bank (SVB) lost 60 percent of its value. It showed an aftertax loss of $1.8 billion. Silicon Valley is unique in that, since its inception, its primary target market has been the startup community in the Bay Area. As it expanded across the country, it targeted the startup market….

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