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 ..

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