Episode 319: The Death of Silicon Valley Bank
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The Second Biggest Bank Failure in History
James Carville: Silicon Valley Bank is the second biggest bank failure in history. He says when interest rates were lowered by the Fed, there's less and less that's safe. As a result, banks like SVB bought long-term securities at very high prices to make money. Carville: The government has stepped into fix what was going on but they're incompetent enough to do it.
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