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The Latest Breaking News from SVB

FDIC official warned 4 years ago that uninsured regional bank deposits were an ‘underappreciated risk.’ No one listened, and we’re now paying the price

Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure.

Fortune

Regulators Face Tough Call Bailing Out Depositors at Failed Banks

The Federal Reserve's Bank Term Funding Program is likely to enable any bank to make depositors whole. Is that a good idea?

The Street

SVB Collapse Has Extreme Consequences For These Companies

Many businesses are now struggling to pay their employees.

The Street

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Sam Altman personally gave loans to stranded startup founders while taking shots at D.C.

The OpenAI founder called for more banking regulations and called SVB a “badly mismanaged bank.”

Fortune

Hedge Fund Manager Calls For Government Intervention As Elon Musk Open To The Idea Of Buying SVB

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Zenger

Michael Pascoe: Silicon Valley Bank downfall will increase nerves in a precarious sector

Silicon Valley Bank, an institution that specialised in tech, might seem a long way away from Australia, but we should take note.

The New Daily

Will Silicon Valley Bank's collapse spark a US recession with ripple effects across the globe?

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

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Avoiding the ‘B-word’: is the US response to SVB’s collapse a bailout?

Given the antipathy towards Wall Street bailouts in the 2008 crisis, Biden is at pains to stress that ‘no losses’ will be borne by taxpayers

The Guardian - US

Critics Challenge SVB Victims: 'I Absolutely Want These Bullsh*t Companies to Fail'

It's not very nice.

The Street

What happens to your money if your bank fails, plus expert tips on protecting your money

With more than $110 billion in assets, Signature Bank just became the third-largest bank failure in U.S. history. Here’s what consumers need to know about bank failures and protecting their money.

Fortune

Big tech has long thought itself above the state. Silicon Valley Bank’s meltdown is stark proof that it isn’t

In the US, the Federal Reserve has stepped in to guarantee deposits. The tech sector should realise it can’t go it alone, says James Ball, of The Bureau of Investigative Journalism

The Guardian - UK

Post-mortems begin on Silicon Valley Bank failure - Roll Call

Biden's comments about SVB added to scrutiny of a 2018 law that eased banking requirements, but it's not clear that's what cause the failure

Roll Call

Three U.S. Banks Down. One More in Focus. Does It End Here?

Silvergate, Silicon Valley Bank and Signature Bank collapsed in the same week. All eyes are now on First Republic Bank.

The Street

A hastily assembled WhatsApp group, then relief: UK tech firms react to SVB

Rescue of Silicon Valley Bank’s British arm followed fears sector would be plunged into crisis

The Guardian - UK

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Fortune

Top economist Mohamed El-Erian says unlimited deposit guarantee is hard to reverse after SVB fallout: ‘We are now in a different world’

The economist also said that the Fed will likely now “retreat” on interest rate hikes.

Fortune

Elizabeth Warren knows exactly why Silicon Valley Bank failed—and who should pay

SVB CEO Greg Becker himself was one of many voices advocating for Dodd-Frank to be loosened. Oops.

Salon

GOP: "Woke" ideology caused SVB collapse

Trump-era Dodd-Frank rollback contributed to Silicon Valley Bank's downfall

Fortune

SVB collapse: Startup ecosystem may have more trouble finding loans

The likes of HSBC may be less amenable to out-there ideas.

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The Street

Jim Cramer Sees Key Investing Advice In SVB Fallout

He also refuses to call the Fed's intervention a 'bailout.'

The Street

Dodd-Frank Co-Author, a Director of Failed Signature Bank, Touts Reforms

Barney Frank stands by the legislation he helped pass: the 2010 Dodd-Frank Act. And he questions the closure of Signature Bank.

Fortune

Silicon Valley Bank fallout drags in a bank with a similar name after ‘baseless rumors and mischief-mongering’

SVC Bank threatened to take legal action against ‘mischief mongers’ who were alleging it had ties to collapsed SVB.

The Conversation

Silicon Valley Bank: how interest rates helped trigger its collapse and what central bankers should do next

A former prime minister of Britain, Harold Wilson, is famous for remarking that a week is a long time in politics. But in the world of finance, it seems everything can change in just two days.

Fortune

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.

The Guardian - UK

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

Al Jazeera

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.

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