To add on, I would like to respectfully ask everyone to consider helping to push against the idea of a Silicon Valley bailout. If you have a Twitter account, definitely please jump in.
SVB was a venture capital firm masquerading as a commercial bank, and the FDIC and CBR will ensure they survive in some form because to allow them to actually fail would draw even more attention to the fact that neither regulatory body did the bare minimum of due diligence to ensure that "banks" were acting like "banks" rather than gambling addicts.
Fuck SVB, and fuck the FDIC and California's banking regulatory board for giving SVB a state charter as a commercial bank, but there's no chance they force it to go through bankruptcy instead of paying off another bank to buy them out.
SVB was a venture capital firm masquerading as a commercial bank, and the FDIC and CBR will ensure they survive in some form because to allow them to actually fail would draw even more attention to the fact that neither regulatory body did the bare minimum of due diligence to ensure that "banks" were acting like "banks" rather than gambling addicts.
Fuck SVB, and fuck the FDIC and California's banking regulatory board for giving SVB a state charter as a commercial bank, but there's no chance they force it to go through bankruptcy instead of paying off another bank to buy them out.