Interesting article:
A year after imploding, Silicon Valley Bank tries to make a comeback
https://www.msn.com/en-us/money/companie...r-BB1jUSvT
Five most interesting comments in the article (interesting to me, anyway):
FOur professors at NY Stern (along with co-authors from Columbia, Baruch and Brandeis) have a comprehensive analysis of the banking crisis last year, 261 pages. One chapter on SVB. Here's the link, if you're a glutton for punishment: https://drive.google.com/file/d/1M067WVI...view?pli=1
A year after imploding, Silicon Valley Bank tries to make a comeback
https://www.msn.com/en-us/money/companie...r-BB1jUSvT
Five most interesting comments in the article (interesting to me, anyway):
- SVB spent 40 years building up its business in Silicon Valley. It fell apart in a day.
- “It was like the banking equivalent of the U.S. withdrawal from Afghanistan,” Hébert said. “It was absolute sheer terror.”
- “I pulled every dollar out in the first week of their comeback,” said Biju Ashokan, the CEO of Radius, a tech platform for real estate investors. He now banks elsewhere and doesn’t plan to return to SVB.
- Before the bank run, SVB had about $119 billion in customer deposits, according to the Federal Deposit Insurance Corp. At the end of 2023 that amount was just $38.5 billion.
- About 81 percent of customers from before the bank failure still have accounts at SVB.
FOur professors at NY Stern (along with co-authors from Columbia, Baruch and Brandeis) have a comprehensive analysis of the banking crisis last year, 261 pages. One chapter on SVB. Here's the link, if you're a glutton for punishment: https://drive.google.com/file/d/1M067WVI...view?pli=1
Audaces fortuna iuvat