The Demise of Silicon Valley Bank - by Marc Rubinstein
netinterest.co · 2,759 words · saved by 1 readers
The Rapid Collapse of the 16th Largest Bank in America
“When you’re not working, what do you do to de-stress?” That was the last question Greg Becker, CEO of Silicon Valley Bank, fielded at an investor conference on Tuesday this week. “Cycling is my advice,” he replied. “Living in Northern California and being on the peninsula. That’s just—I think it’s the best bike-riding cycling in the world, period.” Three days later, Becker’s bank is in receivership. We’ve talked before about the interest rate risk that lurks on banks’ balance sheets and how the industry manages it. During the pandemic, banks took in record volumes of new deposits.…
related reading
- Lessons from Silicon Valley Bankoaktreecapital.com
- The banking crisis, two years latercomplexsystemspodcast.com
- The End of Silicon Valley (Bank) – Stratechery by Ben Thompsonstratechery.com
- How Jerome Powell Killed Silicon Valley Bankforbes.com
- Mediumcryptohayes.medium.com
- Confidence Mensomeunpleasant.substack.com
- Banking in very uncertain timesbitsaboutmoney.com
- Heavy Chandelierschandeliers.substack.com
- Silicon Valley Bank’s failure, the government’s depositor rescue, and venture capitalists’ incredible tantrum.slate.com
- A useful framework for understanding stablecoins: Banking history - a16z cryptoa16zcrypto.com
- Sam Bankman-Fried tries to explain himselfvox.com
- Diversity Activists Helped First Republic Bank Push for Weaker Regulationsleefang.com