Interest rates, bank crises and your money
Money Clinic with Claer Barrett
00:00
What Happened With SBB?
SBB got pinched on both sides. It's depositors, all these tech firms who had all this money from the era of low interest rates. They started saying, ooh, it's looking tough out there. We're gonna need to start withdrawing our money. On the other side, all the bonds SBB had, they were rapidly losing value. And so we got in a situation where people started getting concerned in Silicon Valley. The speed that it unraveled was just absolutely phenomenal. I mean, at first, you know, SBB started to look like it was in the death throes and all of the investors that we spoke to on this side of the pond was saying
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