I worry that Silicon Valley Bank's leadership fell on the wrong side of this between keeping a, you know, stiff upper lip and oh, everything's going to be fine. And in a lot of ways, had a culture far more like a startup or venture capital from a P e firm than a bank. The other thing that happened is because so many of their customers just kept putting money in the same checking accounts,. I think 10 accounts were accounted for $25 billion of deposits.
If a bank has to make a statement about its safety and soundness, that’s usually a bad sign. Sultan Meghji is the former Chief Innovation Officer of the Federal Deposit Insurance Corporation (FDIC) and a professor at the Pratt School of Engineering at Duke University. Ricky Mulvey caught up with Meghji to discuss: - Where Silicon Valley Bank and the FDIC faltered in the lead-up to the bank run - Ripple effects from the recent bank runs that investors should consider - Hindenburg’s report on Block - How to pack a "go bag" for your savings Companies mentioned: JPM, SIVBQ, FRC, FIZN, SQ, SBUX, ORCL Host: Ricky Mulvey Guest: Sultan Meghji Engineer: Tim Sparks
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