[chrisk]

Note that there will be a special assessment on remaining banks to cover any losses to the FDIC by covering uninsured deposits.

It seems clear that SVB was headed for trouble sooner or later and that it was the tech community that effectively pulled the plug on SVB sooner rather than later.

At some point, the CA Department of Financial Protection and Innovation would have eventually caught onto the misdeeds of SVB management. Dodds-Frank did not plug all of the holes in US financial regualtion.

[chrisk]

Note that there will be a special assessment on remaining banks to cover any losses to the FDIC by covering uninsured deposits.

It seems clear that SVB was headed for trouble sooner or later and that it was the tech community that effectively pulled the plug on SVB sooner rather than later.

At some point, the CA Department of Financial Protection and Innovation would have eventually caught onto the misdeeds of SVB management. Dodds-Frank did not plug all of the holes in US financial regualtion.