Breakdown of a Bank Collapse (and What It Means for You)
CNN One Thing
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Silicon Valley Bank
CNN's David Rein says Silicon Valley Bank failed spectacularly in 24 hours. The Biden administration stepped in to ensure depositors would have access to all their money, even those above the $250,000 insurance limit. Last week, depositors tried to pull out $42 billion in one day because of social media and online banking. It was the first tech run we've ever seen on the bank; this is One Thing.
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