Takeaways from America's second-largest bank failure | CNN Business

Silicon Valley Bank’s 48-hour collapse led to the second-largest failure of a financial institution in US history. SVB was one of America’s 20 largest commercial banks and is now under the control of the US Federal Deposit Insurance Corporation after it became unable to pay back customers who withdrew their deposits. Though experts quelled fears of a wider contagion, the bank’s collapse could have significant ramifications on the startup and tech sectors. Here’s everything we know so far.

Banks and lenders with specialized clientele, just like SVB, will feel the brunt of the fallout. “The reason [SVB is] in trouble is because they have exposure to particular industries,” said Jonas Goltermann, deputy chief markets economist at Capital Economics. Most other banks, he added, are more “diversified.” There’s also less anxiety about the stability of the banking sector due to the significant regulatory reforms put in place after the crisis in 2008.

Obscenely rich people gambled with other people's money and lost. I'm sure a government handout will be headed their way.

Will our 401ks ever get back to the levels before Biden took office?

Ohh its not a isolated event its a systemic issue

Sadly, this SVB_Financial drama has far-reaching implications that will only be revealed in the coming weeks. 💸🔥 SVBCollapse SVBCrash svbcrisis SiliconValleyBank SVBFinancial SVBank

Nothing kills FIs like concentration risks. Also, as much as you try to liberalise trade & cash flow, prudential standards are there for a reason & adequate stress tests should be carried out before changing such guidelines albeit in phases too. This doesn't look isolated.

The main thing we will always know is that the rich will stay rich and keep getting richer. The middle class will always pay for it in the end.

Please give coverage to Imran Khan's rally in Lahore who fighting for real democracy in Pakistan ..

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Top 3 Takeaways: DZ Cofield for TEA takeover, student literacy on decline, small business tax tipsFOX 26 is partnering with the Defender Network, which has been delivering news and information to the Black community in our area for more than 90 years.
Source: FOX26Houston - 🏆 448. / 53 Read more »

Europe joins the US in its chip war with China | CNN BusinessEurope's biggest producer of advanced chipmaking technology has joined the United States in its escalating standoff with China. so who will win in the end If you're losing, just change the rules. They will not succeed.
Source: cnni - 🏆 326. / 59 Read more »

Fox CEO Lachlan Murdoch dismisses $1.6 billion defamation case revelations as 'noise' | CNN BusinessFox Corporation CEO Lachlan Murdoch on Thursday dismissed the revelations from Dominion Voting Systems' $1.6 billion defamation lawsuit against Fox News as 'noise,' throwing his support behind the right-wing talk channel in his first comments since the case enveloped the company in major scandal. He knows his viewers never cared about truth or honesty and never will!!!! Just tell them what they what to hear so their sorry pathetic right wing lives seems better than it is, Wrong answer! Malicious lawsuit. Frivolous political attacks.
Source: CNN - 🏆 4. / 95 Read more »

Russia could weaponize metal exports next, Citi warns | CNN BusinessRussia has restricted exports of natural gas to Europe and announced it will temporarily slash oil output this month in response to Western sanctions. Next, it could weaponize exports of important metals such as aluminum and palladium, researchers at Citigroup have warned. You will be drawn into the war without knowing An other propaganda to boycott Russia We🇨🇦 produce Aluminum in Quebec. I'm sure the Frenchies won't remember the Trade war the US attacked them over. They are such an easy going bunch, lol.
Source: cnni - 🏆 326. / 59 Read more »