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Specific issues with SVB, not systemic. [1] 1. https://techcrunch.com/2023/03/09/silicon-valley-bank-firms-reactions/ https://techcrunch.com/2023/03/09/silicon

• adam_arthur 4y ago
  It was specific at Silvergate too. Unfortunately there are far too many optimists out there managing money who chose not to play it safe. Thus, despite being idiosyncratic, it can still be a systemic problem Why these companies didn’t issue shares at the outrageous/nosebleed valuations they were at a year ago? Truly a mystery
• deleted 4y ago
  [deleted]
• marcosdumay 4y ago
  That's the second not systemic failure that makes the HN frontpage today.
• johnbellone 4y ago
  All due respect, nah, nope. Today I learned that many startups park their money at one bank. I hope that isn’t true. If it is I’d be moving my funds regardless right now.
  • justinzollars 4y ago
    What do they do if this is their only account?
    • johnbellone 4y ago
      You better hope you're able to move your funds this morning.
• yieldcrv 4y ago
  Okay so every bank faces the same vulnerability, which is that their bond portfolio has suffered major losses The market was made aware of how deep the losses are, as this is not usually reported in investor disclosures and the bonds are usually held to maturity thereby not being subject to losses in their notional value ANY bank with volatility in customer deposits is vulnerable to these losses as they have to sell the bond at its current value at a big loss to cover the customer withdrawal
• _blz2 4y ago
  Famous last words
• csomar 4y ago
  This is systemic and a direct result of the tightening. Money is literally disappearing from pockets right now. This will continue until the fed eases its policy.