So can anyone explain exactly what happened with SVB? Are they literally all out of money and still have outstanding deposits? Or did the regulators seize whatever assetts they had before they completely ran out.
I know the bank "failed" but what exactly failed about it and what happens when the regulators "seize" the bank"
And no on the bailout. Bailouts just cause even riskier behavior because theirs no consequence to failing. Hold the executives accountable.
SVB spooked investors after disclosing this week that it had taken a $1.8 billion hit from a $21 billion fire sale of its bond holdings. The bank faced a cash crunch due to surging interest rates and a recent meltdown in the tech sector led many customers to pare their deposits.
So can anyone explain exactly what happened with SVB? Are they literally all out of money and still have outstanding deposits? Or did the regulators seize whatever assetts they had before they completely ran out.
I know the bank "failed" but what exactly failed about it and what happens when the regulators "seize" the bank"
And no on the bailout. Bailouts just cause even riskier behavior because theirs no consequence to failing. Hold the executives accountable.
This would be a nice dig. For starters:
https://goodwordnews.com/silicon-valley-bank-collapse-goes-at-the-feet-of-jerome-powell-federal-reserve/
https://nypost.com/2023/03/10/what-is-silicon-valley-bank-and-why-did-it-suddenly-collapse/