03.13.23 SPECIAL EDITION - The Failure of Silicon Valley Bank
The Clark Howard Podcast
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What Happened to Silicon Valley Bank?
Silicon Valley Bank was depending on how you measure the 16th or 18th largest bank in the United States when it failed. They got caught short by owning a lot of ironically enough US treasuries, the safest really of all places to stash cash in the world. As interest rates rise on bonds, the value of those bonds declined. And as rumors started to spread that a run on the bank started, the bank was having to sell their holdings at losses. People were pulling money out till the bank essentially ran out of immediate cash.
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