Full deposit insurance over $250k? I remember a few Elite members dealt with Refco-SIPC?, hopefully the FDIC is moves smother. “… As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors…”
It would be interesting to know the names of the depositors/companies that withdrew $42 billion in about 2 days. "Regulators shuttered Silicon Valley Bank and seized its deposits Friday after depositors withdrew more than $42 billion by the end of the day Thursday."
"May you live in interesting times" Win, lose or draw, you gotta admit, this is fascinating shtuff. Sam Bankman-Fried, Now this? Lotta fraud going on.
no, SVB is not a VC firm but has lot of VC clients. They are safekeeping the deposits rather conservatively in treasuries. AFS/HTM allocation is wrong.
Black swan events are by definition unpredictable, so we can rule that one out. With everyone and their dog being a bear it sure warrants some caution towards the short side as it’s getting crowded. By tomorrow and in actionable time we should know. No need to predict right now.