How Fed shrapnel killed Silicon Valley Bank Continuing to tighten monetary policy in this environment of bank blowups and declining consumer and business confidence is a surefire recipe for disaster. Fortune · Mar 13, 2023
Relief in the UK over Silicon Valley Bank. Panic in the US Sale of SVB’s British subsidiary to HSBC is a satisfactory fix but Fed emerges with less of a worthy halo The Guardian - UK · Mar 13, 2023
Biden offers assurances after major US banks collapse President says banking system is ‘safe’ but will seek accountability after second largest failure in US history. Al Jazeera · Mar 13, 2023
Paul J. Davies: A full banking crisis isn’t apparent in the SVB wreckage The market still appears to be hunting for weakness among some smaller U.S. banks and even across Europe after U.S. authorities stepped in to guarantee deposits at Silicon Valley Bank. This makes little sense: There should be no snowballing of runs on banks. But profit expectations could be trimmed at… Tribune News Service · Mar 13, 2023
Biden says banking system is safe, blames Trump for Silicon Valley Bank failure WASHINGTON — President Joe Biden said Monday that the U.S. banking system is “safe and secure” following the failure of Silicon Valley Bank and closure of Signature Bank last week. Los Angeles Times · Mar 13, 2023
OPINION - Tech & Science Daily podcast: Why Silicon Valley Bank UK rescue ‘protects tech industry’ The UK branch of Silicon Valley Bank has managed to avoid being declared insolvent by the Bank of England - after being bought by HSBC for £1. Evening Standard · Mar 13, 2023
How the Fed Broke Silicon Valley Bank The Fed's anti-inflation measures had to hurt someone. Reason · Mar 13, 2023
How savers can keep their money safe when banks collapse Collapse of Silicon Valley Bank sparks memories of 2007/8 global financial crisis The Independent UK · Mar 13, 2023
HSBC buys Silicon Valley Bank UK in rescue deal to avoid tech sector chaos The 11th-hour sale was agreed after all-night talks between the Government and the Bank of England. The Independent UK · Mar 13, 2023
‘Your deposits will be there when you need them,’ president says President Joe Biden on Monday moved to assure the public after the swift and stunning collapse of two banks that prompted fears of a broader upheaval. Chicago Sun-Times · Mar 13, 2023
Silicon Valley Bank: global banking shares slide as fallout spreads Stock markets fail to be reassured by Joe Biden’s intervention, as SVB failure is followed by Signature The Guardian - UK · Mar 13, 2023
Biden blames Trump deregulation for Silicon Valley Bank failure WASHINGTON — President Joe Biden on Monday blamed the collapse of Silicon Valley Bank and closure of Signature Bank on former President Trump’s 2018 decision to scrap some Obama-era banking regulations. Los Angeles Times · Mar 13, 2023
Everyone Is Learning the Wrong Lessons From the Silicon Valley Bank Collapse Plus: Fox News troubles, junk statistics about illicit economies, and more... Reason · Mar 13, 2023
There’s a deeper story to Silicon Valley Bank’s failure. What can we learn from it? Financial deregulation led to the crash in 2008 and it could again in 2023. It’s time to make banking boring again The Guardian - US · Mar 13, 2023
The Independent UK · Mar 13, 2023 Biden says banking system is ‘safe’ after Silicon Valley Bank collapse and vows accountability for executives ‘No losses will be borne by the taxpayers,’ the president says
Fortune · Mar 13, 2023 Billionaire investor Bill Ackman says U.S. regulators ‘did the right thing’ by saving Silicon Valley Bank depositors But he warns more banks "will likely fail."
WEKU · Mar 13, 2023 Banking shares slump despite U.S. assurances that deposits are safe The declines come despite emergency measures by regulators to protect depositors at Silicon Valley Bank and Signature Bank and President Biden's remarks to reassure Americans.
Axios · Mar 13, 2023 Biden says "banking system is safe" after Silicon Valley Bank collapse Biden also promised to do "whatever is needed" to prevent any other bank runs.
The Guardian - US · Mar 13, 2023 Biden stresses taxpayer funds won’t be used in Silicon Valley Bank collapse – as it happened President reassures Americans ‘banking system is safe’ as US government announces plans to stabilize situation
WEKU · Mar 13, 2023 Biden reassures bank customers and says the failed firms' leaders are fired President Biden also said insiders and investors won't be bailed out, but that companies that used the bank will be able to pay their employees and bills.
The Independent UK · Mar 13, 2023 Watch as Biden speaks on US financial system following collapse of Silicon Valley Bank Watch as Joe Biden addresses the nation on Monday (13 March) following the collapse of Silicon Valley Bank.
Tribune News Service · Mar 13, 2023 US regional banks remain under pressure as First Republic sinks Turmoil continued to engulf shares in banks as investors rushed to reduce exposure to the banking industry after seeing equity stakes wiped out at Silicon Valley Bank and Signature Bank.
The Independent UK · Mar 13, 2023 Central banks could ‘ease up on rate hikes’ after Silicon Valley Bank collapse The events will add to pressure on UK and US central banks to ease up on raising interest rates, some experts have suggested
Fortune · Mar 13, 2023 Cell phones caused Silicon Valley Bank's failure. A bank panic in the age of Venmo is very different from similar panics in earlier eras.
Evening Standard · Mar 13, 2023 Why did Silicon Valley Bank collapse? And how did HSBC rescue its UK arm? A weekend of high political drama ends in a rescue deal that leaves fast-growing sector safe in the City