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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
2023-03-10
[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

#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  

#5  Wells Fargo customers say money missing from their accounts.
Posted by: Crolutle Bumble1102   2023-03-10 21:05  

#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  

#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  

#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  

#1  Saw that the FDIC has taken it over. That is the end.
Posted by: Tom   2023-03-10 14:45  

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