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re: Can someone who understands venture-capital explain to me why the uproar?
Posted on 3/10/23 at 9:30 pm to Big Scrub TX
Posted on 3/10/23 at 9:30 pm to Big Scrub TX
quote:
This is not accurate.
quote:
On March 10, 2023, Silicon Valley Bank collapsed, causing the largest bank failure since the 2008 financial crisis and the second-largest in U.S. history.[1] Of the bank's US$175 billion in deposit liabilities, Reuters reported that, as of the end of 2022, 89 percent of its deposits were not covered by federal deposit insurance
LINK
Other articles have reported over $200 billion in liabilities but we all know you are always correct about everything.
1
Posted on 3/10/23 at 9:40 pm to stout
quote:At least $42B was successfully withdrawn yesterday. That alone negates your claim of "basically disappeared".
Other articles have reported over $200 billion in liabilities but we all know you are always correct about everything.
On top of that, the securities/treasuries portfolio that caused the run in the first place is still largely intact. They paid like $27B for treasuries that were marked down to $25B or something. The $2B in writedown was enough to start triggering capital ratio events, but as you can clearly see - 93% of the value of those securities was still intact. And presumably you understand those assets will be liquidated to pay off depositors. etc. etc.
This post was edited on 3/10/23 at 9:43 pm
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