Benzinga: Who is to blame here? Is it the bank for investing in these 10 year mortgage backed securities, or is it the people who started the bank run on Twitter? Benzinga: It's both of those entities. I think it's also regulators. How could they not have seen this coming? No one expected interest rates to rise this quickly. And you had some companies like Roku that had 25% of their cash in Silicon Valley Bank and suddenly they couldn't access it.
SVB’s collapse is the biggest bank failure since 2008. Insider’s Ben Bergman explains why the bank collapsed, why the Biden administration intervened, and what this means for the economy writ large.
This episode was produced by Avishay Artsy and Victoria Chamberlin, edited by Matt Collette and Amina Al-Sadi, fact-checked by Laura Bullard and Amanda Lewellyn, engineered by Paul Robert Mounsey and Patrick Boyd, and hosted by Noel King.
Transcript at vox.com/todayexplained
Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts
Learn more about your ad choices. Visit podcastchoices.com/adchoices