Silicon Valley Bank's holding company files for Chapter 11 bankruptcy protection in NY

Viome founder and CEO Naveen Jain discusses how his business had $25 million stored in Silicon Valley Bank on 'Mornings with Maria.'

SVB Financial Group has filed for Chapter 11 bankruptcy protection in a New York court after Silicon Valley Bank collapsed last week, upending the world of tech startups. The company said in a statement that SVB Securities and SVB Capital's funds and general partner entities are not included in the Chapter 11 filing and continue to operate in the ordinary course as the company explores "strategic alternatives" for these businesses.The Silicon Valley Bank logo is seen through a rain covered window in front of the SVB headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Mar.

Haha what is breaking news about that

Let’s get inflation under control, so we can start reversing interest rates. Then we’ll be able to prevent more of these banks from failing. The way to do that is no more stimulus money Joe.

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Silicon Valley Bank’s Parent Company Files for Chapter 11 Bankruptcy ProtectionSVB Financial Group filed for chapter 11 protection on Friday in New York bankruptcy court, the largest bankruptcy filing stemming from a bank failure since Washington Mutual Inc. in 2008. It didn’t need a bailout Holy Molly. Confidence shattered ! Ils devraient saisir les biens personnel des hauts dirigeants eux qui on vendu leurs actifs quelques heures avant la chute. Crosseurs et Mauvais gestionairs!!!
La source: WSJ - 🏆 98. / 63 Lire la suite »

Credit Suisse, Citi and more bank stocks tumble amid Silicon Valley Bank turmoilBank stocks in the U.S. and Europe are tumbling as the global financial system continues to reckon with the Silicon Valley Bank collapse—the largest bank failure since 2008. Chaos and fear have set in It used to be that keeping money in a bank was not a risk but under Biden that has all changed. Don't forgot CreditSuisse which is happening right now.
La source: ABC - 🏆 471. / 51 Lire la suite »