The only way to stop it is a bear hug, which may not cost the taxpayer anything if the Fed or some federal agency stepped in and said, we are going to backstop. The equity tier of these banks are now increasingly worried that their equity will get wiped out. That's why they're selling. And so the, unfortunately, it starts at SVB, but forget the name for a second and take Silicon Valley out of it. This is a top 20 bank that now is in the receivership of the authorities. So there does need to be something that needs to happen in really short order.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode