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Silicon Valley Bank: What Happened and Why
Founder's Journal
The Missteps of Silicon Valley Bank
4min Snip
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Silicon Valley Bank's deposits grew threefold over the course of three years. They had to invest in something to get their yield so that they were making more profit than depositors. The bank sold $80 billion worth of mortgages or $20 billion of them at a, I believe, a $2 billion loss. But my understanding here, and correct me if I'm wrong, is that actually isn't what created this whole issue.
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