Tweet by Jon Wu: The 20th largest bank in the US was just closed by California state regulators. Silicon Valley Bank was rumored to be in a sale process to protect its depositors. Now, it's the second biggest banking failure in US history. All because of a secular

A
Jon Wu
Save Complete Collect Reco
Share on Twitter Copy link Share via
Tweet
The 20th largest bank in the US was just closed by California state regulators.

Silicon Valley Bank was rumored to be in a sale process to protect its depositors.

Now, it's the second biggest banking failure in US history.

All because of a secular bet against rising rates:
Recommended by
Recommendations from around the web and our community.
Trung Phan 2mos

Deep dive thread on topic from Jon

Frances Coppola 2mos

Key point from a really good thread on #SVB. I would add that the reason why SVB tried to restructure its balance sheet when it did was the collapse of Silvergate Bank, and the reason why that caused a disastrous bank run was also the collapse of Silvergate Bank.