US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
Geopolitical Economy Report
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Silicon Valley Bank
Silicon Valley Bank's main business was working with venture capitalists to provide them loans. By the end of 2022, 56% of the loans that Silicon Valley Bank had made was to private equity firms and venture capital firms. This is not some plucky regional bank like a credit union; we're talking about something that was linked with an umbilical cord between Wall Street and Silicon Valley. The same venture capital investors that the bank had supported for years ended up killing it.
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