87: SVB's Risky Bailout and The Bank Run “Domino Effect”
On The Market
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What Happened to Silicon Valley Bank?
Venture capital firms saw what was going on with Silicon Valley Bank, and they sent out emails to the executives at all of these startups saying, like, pull your money out now. And so that obviously also contributed to why the bank run it at S.V.B. was so dramatic. The FDIC then stepped in to take over the bank because people didn't know if $150 billion of uninsured deposits were going to be recovered.
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