Jack Ohman for March 21, 2023

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    Uncle Joe Premium Member over 1 year ago

    The clients that kicked off the bank run are coming back:

    “VCs General Catalyst, Bessemer, Greylock, Lightspeed, Lux Capital, Mayfield Fund, Redpoint and Upfront have recommended that their portfolio companies keep or return at least 50% of their total capital with Silicon Valley Bank.”

    https://www.forbes.com/sites/emilymason/2023/03/19/vc-and-startups-are-returning-to-government-backed-svb-in-droves/?utm_source=ForbesMainTwitter&utm_campaign=socialflowForbesMainTwitter&utm_medium=social&sh=37d9fffb7dfc

    The FDIC is getting offers to take over the Silicon Valley Bridge Bank, because the bank is worth at least $30 billion more than it’s debts. It’s a more attractive investment than Twitter. Hopefully, Congress repeals the Trump law that let the bank get 5 times bigger in a few years.

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    aristoclesplato9  over 1 year ago

    At $300 billion for the SVB / Signature bailouts, it comes to around $1,000 per citizen. Hardly small change. And all done without approval from Congress.

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    Godfreydaniel  over 1 year ago

    Bank runs should really be called “bank stampedes”, because the mindless herd instinct kicks in.

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  4. Freeradical
    Free Radical  over 1 year ago

    And the answer is: Yes I have spare change but you cannot have it.

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