Talk About Tennis 2.0

Bloomberg News Bot
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The fallout from Silicon Valley Bank’s collapse has led to a selloff in financial stocks that has erased about C$20 billion in value from Canada’s top banks in four days https://t.co/AJrHndWazL

Bloomberg News Bot
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Founders are starting to worry about whether startups will be able to keep paying employees following the failure of Silicon Valley Bank https://t.co/Cxd7jaEEL8

Max Kennerly
@maxkennerly@mstdn.social
In four days, Silicon Valley Bank went from Forbes' "Best Banks" and "Financial All-Stars" to FDIC receivership.

Bloomberg News Bot
@bloombergnews@mstdnnewsbots.org
ICYMI: Silicon Valley Bank abandoned a planned equity raise, casting doubt on its efforts to shore up capital as it grapples with losses on its securities portfolio and dwindling deposits from start-ups https://t.co/642lk9om12

You never have a ONE-BANK collapse. The system is too interactive.
There might be more.

ponchi101 wrote: ↑Fri Mar 10, 2023 11:27 pm You never have a ONE-BANK collapse. The system is too interactive.
There might be more.

Agree

ponchi101 wrote: ↑Fri Mar 10, 2023 11:27 pm You never have a ONE-BANK collapse. The system is too interactive.
There might be more.

Yup, no bank is tied to just itself. Possibly the first domino.

I had no idea that this bank is THEE bank for silicon valley.