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Title: Silicon Valley Bank is SEIZED by regulators after run on deposits caused lender to collapse
Source: [None]
URL Source: https://www.dailymail.co.uk/news/ar ... ding-pending-announcement.html
Published: Mar 10, 2023
Author: Mike Rivero
Post Date: 2023-03-10 16:33:37 by Horse
Keywords: None
Views: 145
Comments: 3

Largest US bank failure since Great Recession - as panic over tech industry slowdown spreads to Wall Street

Silicon Valley Bank has been seized by financial regulators after a run on deposits tipped the bank into collapse, in the largest US bank failure since the Great Recession in 2008.

California state regulators shuttered the bank on Friday, and the Federal Deposit Insurance Corporation (FDIC) immediately took control of the bank's $209 billion in assets and $175.4 billion in deposits.

The bank based in Santa Clara, California had been the 18th largest bank in the US, and primarily catered to the tech startups and wealthy entrepreneurs of Silicon

Poster Comment:

CNBCs Jim Cramer urged viewers to buy Silicon Valley Bank stock last month

CNBC analyst Jim Cramer is once again being pilloried on social media after a clip resurfaced showing the “Mad Money” host recommending viewers buy shares of Silicon Valley Bank’s parent company, which owns the tech-driven commercial lender that swiftly collapsed on Friday.

https://nypost.com/2023/03/10/cnbcs-jim-cramer-touted-silicon-valley-bank-stock/

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https://nypost.com/2023/03/10/cnbcs-jim-cramer-touted-silicon-valley-bank-stock/

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2023-03-10   16:51:08 ET  Reply   Trace   Private Reply  

I should've hit the liquor store today, but the weather is crappy.

Esso  posted on  2023-03-10   16:56:57 ET  Reply   Trace   Private Reply  

I wonder if the banks are going to be able to open Monday? A lot of fellas at ZH are talking about pulling their assets out.

Bitter, impotent Pedo Joe won't allow the banks to be bailed out this time like 2009.

Esso  posted on  2023-03-10   17:45:21 ET  Reply   Trace   Private Reply  

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