Breaking News: Major Tech Lender Silicon Valley Bank Fails!

B

bnew

Veteran
Joined
Nov 1, 2015
Messages
58,197
Reputation
8,613
Daps
161,838
bnew said:



snippet:
Silicon Valley Bank's Manhattan branch calls COPS on investors trying to pull their cash out as Boston tech CEO with $10M in bank describes 'worst 18 hours of my life': Lender is SEIZED by regulators in largest US bank failure since Great Recession

  • Police were called after 'about a dozen' financiers, including former Lyft executive Dor Levi, showed up outside the building on Park Avenue Friday
  • SVB blocked them from entering and two cop cars arrived to secure the building
  • There was a run on the bank today as depositors - many of them tech workers - began pulling funds following a surprise announcement of a $1.8 billion loss
Click to expand...
Click to expand...
 
J

Json

Superstar
Joined
Nov 21, 2017
Messages
12,818
Reputation
1,393
Daps
38,883
Reppin
Central VA
bnew said:
over $149 Billion is uninsured and shareholders lost their investment. anyone who used $SIVB for collateral has gotten margin called.
Click to expand...
uninsured doesn’t mean lost. It simply means up to 250 is guaranteed to be returned by the feds. The rest they have to see what they can do to get back. You might not get everything back but it’s not all gone yet either,


Shareholders are screwed but that’s also part of why they are shareholders. They go down with the ship is part of the risk. Don’t invest more than you are willing to lose right?
 
You must log in or register to reply here.
Top