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The Latest Breaking News from Silicon Valley Bank

Jonathan Bernstein: Blaming SVB on ‘woke’ banks masks Republican divide

Politicians generally don’t like looking silly. And yet a whole bunch of Republican politicians reacted to the collapse of Silicon Valley Bank by raging about “woke” banking” in ways that made them appear ridiculous to anyone actually concerned about the danger to the banking system and the economy.

Tribune News Service

‘The first Twitter-fuelled bank run’: how social media compounded SVB’s collapse

The speed at which Silicon Valley Bank collapsed has left experts questioning whether social media has opened up entirely new risks in the world of finance

The Guardian - AU

Credit Suisse: Share price climbs after £44bn bailout from Swiss national bank – latest

Credit Suisse dropped about 30 per cent on the on the Swiss stock exchange Wednesday after Wall Street expert Robert Kiyosaki tipped it as the next major bank to collapse

The Independent UK

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AP News Digest 3:30 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

The Independent UK

Conservatives hate wokeness. Don’t trigger them by asking what it means

An anti-woke commentator short-circuited when asked to define the term, which the right has turned into a catch-all

The Guardian - US

Arrogance, Incompetence or Both: What SVB’s Failure Really Means

The implosion of Silicon Valley’s favorite bank, which became increasingly dependent on venture capital and private equity, was rooted in hubris as much as its balance sheet.

Businessweek

SVB collapse – latest: Credit Suisse to borrow £44.5bn after crash amid fears of economic crisis

Collapse of Silicon Valley Bank (SVB) marks biggest US bank failure since Washington Mutual during 2008 financial crisis

The Independent UK

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Credit Suisse takes $54bn loan from Swiss central bank after share price plunge

After largest shareholder was unable to provide backing, Europe’s 17th largest lender says it will use government help to become ‘simpler and more focused’

The Guardian - AU

FACT FOCUS: Claims link ‘woke’ policies to bank’s demise

Some social media users are honing in on a single culprit that led to the demise of Silicon Valley Bank: its socially aware, or “woke,” agenda

The Independent UK

Is SVB the canary in the coal mine?

Should the rest of the world be worried about the collapse of Silicon Valley Bank last week? SVB was the 16th largest bank in the United States, with about $210 billion (7.3 trillion baht) in assets and a market valuation of $44 billion at its peak.

Bangkok Post

NY bank's demise: Contagion or a problem with the business?

A New York-based bank's demise was stunningly fast

The Independent UK

After Twitter played a massive role in a historic $42 billion bank run, Elon Musk mused it was like 1929

Before Silicon Valley Bank was shut on Friday, investors discussed its health while some recommended that depositors pull their money out.

Fortune

TAT to monitor tourism impact of SVB

Economic concerns stemming from the collapse of Silicon Valley Bank (SVB) will not affect long-haul visitors to Thailand in the short term as pent-up demand should support the market, but officials plan to monitor the long-term impact, according to the Tourism Authority of Thailand (TAT).

Bangkok Post

Following the SVB collapse, are banks in Texas at risk?

The collapse of Silicon Valley Bank sent ripples through the banking world, causing stocks like Comerica’s to fall as investors looked to guard themselves against a potential domino effect.

Tribune News Service

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Fortune

‘What happens to all the debt?’ Founders and VCs have a host of questions about the fate of Silicon Valley Bank’s venture loans

SVB was a prolific lender. “If it gets acquired, things could change,” one venture investor told Fortune.

Fortune

The real victims of SVB aren't the tech elite: Hardworking business owners share their horror stories of the bank's collapse

The Silicon Valley Bank bailout was not about solving a “1% problem.”

Salon

SVB-backed GOPers "want to go further"

"They don't want any kind of oversight whatsoever," watchdog group warns

Salon

Warren bill: Repeal "Trump's bank law"

Notably absent from the list of co-sponsors were Dems who helped Republicans usher the bill through Congress

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Salon

Manchin now sees bank vote "differently"

"You look at it differently now. You’d never thought this would have happened in the smaller banks," Manchin said

Fortune

Will Credit Suisse be the next banking domino to fall?

After Silicon Valley Bank’s collapse, could one of Europe’s biggest (and most embattled) banks spark an even bigger crisis?

Salon

Dem: Bank lobbyits bought Sinema's vote

"I said no. When they asked Sen. Sinema, she asked how much—and voted yes," says Rep. Ruben Gallego

The Conversation

Silicon Valley Bank: 19th-century financial crises show how today's regulators could help repair the economy

A bank failure wipes out the money available to its customers and freezes any capital that’s already in circulation. Depositors, borrowers and owners or shareholders all suffer as a result, as does wider economic activity and often the communities or business sectors that the banks serves.

Chicago Sun-Times

Is my money safe in the wake of two big bank failures? A consumer guide to what you need to know.

Is there any reason to be worried about bank failures after the government-ordered closings of Silicon Valley Bank and Signature Bank? And what can you do to protect yourself?

The Independent UK

Bank runs used to be slow. The digital era sped them up

What made the failure of Silicon Valley Bank unique compared to past failures of large banks was how quickly it collapsed

Reason

Blame the Government for the New Banking Crisis? Live With Lyn Alden, Arnold Kling and Zach Weissmueller

Join Reason on YouTube and Facebook Thursday at 1 p.m. Eastern for a discussion of the Silicon Valley Bank meltdown and bailout of depositors with economist Arnold Kling.

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