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SVB Collapse & Biden Budget Battle | 3.13.23
Morning Wire
The Collapse of Silicon Valley Bank SVB
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SVB, a top 20 bank, collapsed over the course of some 40 hours last week. The event that prompted the crash was SVB announcing on Wednesday that they were being forced to sell a bunch of securities at a loss. Some have blamed the bank's collapse on the Federal Reserve's interest rate hikes. But some say rising interest rates are no excuse that the bank had plenty of time to prepare.
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