How does a bank collapse in 48 hours? A timeline of the SVB fall | CNN Business

Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators. It was the largest failure of a US bank since Washington Mutual in 2008. Here’s what we know about the bank’s downfall, and what might come next. What is SVB? Founded in 1983, SVB specialized in banking for tech startups. It provided financing for almost half of US venture-backed technology and health care companies.

That triggered a panic among key venture capital firms, who reportedly advised companies to withdraw their money from the bank. The bank’s stock began plummeting Thursday morning and by the afternoon it was dragging other bank shares down with it as investors began to fear a repeat of the 2007-2008 financial crisis. By Friday morning, trading in SVB shares was halted and it had abandoned efforts to quickly raise capital or find a buyer.

Did any democrat politicians like Pelosi, Newsom, Schiff, Swalwell, Waters have money in SVB or remove money recently?

Who are largest uninsured (more than $250K in bank) and how much is their loss?

TRUMPonomics responsible for this! -J. Biden

I think Joe should take the taxpayers money without their consent and bail out these companies and their multimillionaire executives Might be worth a few votes

SuttonBStracke It should be illegal for the directors to sell off their shares in the days b4 this and pay out bonuses on Friday. They knew it was coming and profited off not telling the folks with their money there. Shameful.

Save this article. CNN will be wrong about this, too. Recession has been delayed, despite the definition, for 5 quarters. The pressure cooker is about to blow. Biden is merely a puppet pushing policies for stupid, woke people. But at least we have diversity and $200B to Nazis.

Don't need a whole article to say 'they spent more money than they had'. Tried to get as many people in debt to them as possible but, people were smart enough to take their money out of a failing buisness model.

Federal Auditors.

Did the Democrats show their true colors or what in their attacks on journalists Matt Taibbi and Michael Shellenberger. They really don’t believe in the first amendment anymore!

Don’t put all your money in venture funds.

This is the second time biden has been apart of a banking collapse

But Biden’s economy is the strongest the nation has ever been! (Depression enters chat)

And what about all those go green solar companies that have subsidiaries part of a credit facility where SVB serves as a lender.

It takes years it is just hidden well

reminds me of RBS scandal..!!!

Elon You Rock!!!

For those with uninsured deposits at the Silicon Valley Bank – basically anything above the FDIC limit of $250,000 – they may or may not receive back the rest of their money:

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Analysis: SVB's lightning collapse stuns banking industryThe rapid unraveling of SVB Financial Group has blindsided the banking industry after years of stability. Another realDonaldTrump gift for the ages. Wonder if he knows the way to San Jose? Forbes isn't shocked another company they promoted SVB as bank of the years failed... Whoa 🚨Adult mis management will most certainly request Big Government support but don’t want Big Government to regulate their incompetence. This is ok with GOP YET! Any move to help student loan burdens they fight like the devil to block.
Source: Reuters - 🏆 2. / 97 Read more »

Bank carnage drags stocks lower as SVB Financial shares plungeA brutal day for banks drags down stocks on Thursday. Which banks next
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Stocks making the biggest moves after hours: SVB Financial, Oracle, Gap and moreThese are the stocks posting the largest moves in postmarket trading. Bond/treasury note loss is a common situation now due to our governments, like TLT...However, rapidly pulling out money from the stock market or banks can be a serious situation for the stock market like in 2008. All banks are under FDIC...No need to panic...
Source: CNBC - 🏆 12. / 72 Read more »

Bank stocks crater as SVB's woes send warning sign By Investing.com*BANK STOCKS CRATER AS SVB'S WOES SEND WARNING SIGN ACROSS THE SECTOR - $JPM $C $WFC $BAC $SVBI Yesterday Powell was told by a 👸🏿 to cut rates if you remember he responded with Higher for longer till we take out the trash. This should be main article of day, tomorrow is D day.
Source: Investingcom - 🏆 450. / 53 Read more »