We made it to Friday.
But it’s a tough week to be a bank. Specifically, a regional bank, it seems. Silicon Valley Bank failed last Friday and, under new management, has been pleading with depositors to bring their money back. But as we’ve seen percolating for several days, regional bank First Republic, which is also a provider to startups, is under pressure, announcing on Thursday afternoon that the bank is getting a rescue influx of deposits from eleven top banks, orchestrated by the U.S. government, to try to stem contagion.
