Rep. Katie Porter on the collapse of Silicon Valley Bank: 'There are real questions about why the bank didn't anticipate one of the most fundamental financial facts... that interest rates go up and they go down. You can't bet on them staying low forever.'
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Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm:
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How Silicon Valley Turned on Silicon Valley BankThe fallout from Silicon Valley Bank threatens to engulf Silicon Valley—and has put the rest of the banking system on edge
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Silicon Valley Bank shut down; FDIC creates new bank to protect insured depositorsThe Federal Deposit Insurance Corporation (FDIC) has seized the assets of Silicon Valley Bank Friday, the largest bank to fail since the 2008 financial meltdown, The Associated Press reported.
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Washington is watching Silicon Valley Bank but does not see current troubles as systemic - bank analystsAfter Silicon Valley Bank disclosed large losses from securities sales and saw its stock plunge, the bank exposed to high-tech venture capital was closed by the California Department of Financial Protection and Innovation.
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Silicon Valley Bank Is Shut Down by Regulators in Biggest Bank Failure Since Global Financial CrisisSilicon Valley Bank shut down by regulators in biggest bank failure since global financial crisis more than a decade ago
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Silicon Valley Bank seized by FDIC, marking largest shutdown of a US bank since 2008Its failure marks the largest shutdown of a US bank since 2008, when Washington Mutual fell during the financial crisis.
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