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A quote from twitter, is this true? 2008: 25 banks with $373 billion in combined assets failed 2023: 2 banks with $319 billion in combined assets failed
by GrumpyNl 4y ago
A quote from twitter, is this true?
2008: 25 banks with $373 billion in combined assets failed
2023: 2 banks with $319 billion in combined assets failed
- foogazi 4y agoThe difference is 2008 was due to speculative asset bubble finally popping
- more_corn 4y agoWhat were the assets that SVB invested in that went down causing them to lose so much money they couldn’t cover deposits?
- foogazi 4y agoBonds
- postingawayonhn 4y agoI'm not sure that's a difference. The core problem seems to be that the value assets acquired during the COVID years are falling rapidly as interest rates rise.
- ldayley 4y agoHundred of bank closure, higher bar to starting De Novo banks, and 14 years of Quantitative Easing means a LOT more assets have been siloed in fewer institutions.