2min chapter

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The Bank of Silicon Valley Just Collapsed - WAN Show March 10, 2023

The WAN Show

CHAPTER

What's the Biggest Bank Failure in America?

Venture capitalists advised their clients to withdraw funds, and those clients rushed to get out what they could until regulators stepped in. This is the largest American bank collapse since the 2008 financial crisis. Much of the bank's deposits, and this is wild, were uninsured. Most banks that I'm aware of have a limit to how much your balance can be before it just goes beyond what their insurance will cover.

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