Quote:
Originally Posted by BigBeauford
Silicon Valley Bank just went tits up. I have a friend in the start up aerospace industry. Their company may have just lost almost all their cash and have about 4 months of money left on hand.
|
Very dark situation. Never thought I'd see a bank-run at this scale. The bottom line is SVB bought up too many assets with zero percent interest rates and when the fed raised the rates couldn't survive their CEO giving some dumbass "hey don't panic guys" speech. Disaster.