What's Over Left Over?

Silicon Valley Bank was investing itself in the very companies that were banking with it. The value of their bomb portfolio went down and because the mortgage back securities, it also went down because they were invested in some of those own companies. There's a very, very incestuous relationship out there. And so you slaughter tons of healthy businesses and you move the money into just building the smart grid, except that phase is over. So now what's over left over? You just bubble collapse. Yep.