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Podcast: The Winning Momentum Podcast with Scott Sinclair
Episode: 221. Silicon Valley Bank
Description: Silicon Valley Bank (SVB) was America’s 16th-largest bank with $175 billion in deposits. Last Friday customers tried to withdraw $42 billion, a quarter of all deposits, in a 21st century bank run. The FDIC stepped in and closed the bank. All of that happened in 2 days - the bank is now gone and equity holders have probably lost everything.In this Episode we discuss:• The background leading up to the implosion• Risk management failings at the bank• Who gets hurt• Will depositors get their money back - should they get their money back?• Opposin...