Article

2023-03-10 Economy

Silicon Valley Bank HALTS trading as shares crash 64% today amid talks to sell troubled lender: Panic caused by tech industry slowdown spreads to Wall Street - as Peter Thiel's venture capital fund warns startups to PULL money out of SVB

[Daily Mail, where America gets its news]

Shares of SVB were down 64% in the premarket, after slumping 60% Thursday

Bank announced a massive equity raise to cover a $1.8B loss on sale of bonds

Peter Thiel's venture fund advised startups to pull their money from the bank

Posted by Skidmark 2023-03-10 09:04|| || Front Page|| [11136 views ] Top

#1 Saw that the FDIC has taken it over. That is the end.

Posted by Tom 2023-03-10 14:45|| 2023-03-10 14:45|| Front Page Top

#2 This was very sudden, and I don't think anyone on the outside really knows what happened. Watch for the coverage in the next few days as FDIC auditors find all sorts of interesting things.

Posted by Tom 2023-03-10 14:46|| 2023-03-10 14:46|| Front Page Top

#3 Like the first dotcom crash, "this time it's different!" Companies don't have to make money, just attract it.

Bwahahahahahaaahhaaaaahhhaaaaaaaaa...

Posted by M. Murcek 2023-03-10 15:03|| 2023-03-10 15:03|| Front Page Top

#4 And Newsome wants to run more businesses out of California (Walgreens) that these banks need to stay afloat.

Posted by Crolutle Bumble1102 2023-03-10 21:03|| 2023-03-10 21:03|| Front Page Top

#5 Wells Fargo customers say money missing from their accounts.

Posted by Crolutle Bumble1102 2023-03-10 21:05|| 2023-03-10 21:05|| Front Page Top

#6 Wells Fargo customers say money missing from their accounts.

Hasn’t Wells Fargo done that before, Crolutle Bumble1102?

Posted by trailing wife 2023-03-10 21:41|| 2023-03-10 21:41|| Front Page Top

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