Published 1 year ago

Why almost everyone failed to predict Silicon Valley Bank's collapse

Summary by Ground News

Silicon Valley Bank was the second-largest bank failure in US history, after Washington Mutual in 2008. As analysts and regulators began sifting through the rubble, several red flags emerged. The Federal Reserve warned the bank about its insufficient risk-management systems four years before its downfall. SVB was without a chief risk officer for eight months in 2022.

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CNN

Why hardly anyone could predict the collapse of Silicon Valley Bank

Two weeks ago, few outsiders to the technology industry had heard of Silicon Valley Bank, California's midsize lender whose rapid implosion would end up shaking the foundations of the entire global financial system.

1 year ago·Atlanta, United States

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KRDO

Why almost everyone failed to predict Silicon Valley Bank's collapse

By Allison Morrow, CNN Two weeks ago few people outside the tech industry had even heard of Silicon Valley Bank, the midsize California lender whose rapid implosion would end up shaking the foundations of the entire global financial system. But then, on the morning of Friday, March 10, after clients withdrew $42 billion in the span of a single day, state and federal regulators swooped in to try to salvage what remained of SVB. In the head-spinni…

1 year ago·Colorado Springs, United States

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KIFI

Why almost everyone failed to predict Silicon Valley Bank's collapse

1 year ago·Idaho Falls, United States

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Albany Herald

Why almost everyone failed to predict Silicon Valley Bank's collapse

Two weeks ago few people outside the tech industry had even heard of Silicon Valley Bank, the midsize California lender whose rapid implosion would end up shaking the foundations of the entire global financial system.

1 year ago

Read Full Article