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The Latest Breaking News from Silicon Valley Bank

‘Total and complete disaster’: DeSantis takes rhetorical aim at Fed Chairman Powell

WASHINGTON — Ron DeSantis has found a new rhetorical target as he prepares for a potential presidential bid: Federal Reserve Chairman Jerome Powell.

McClatchy Washington Bureau

Raghuram Rajan says banking system is headed for more trouble

Raghuram Rajan — the former International Monetary Fund chief economist who predicted the global financial crisis more than a decade ago — warned that the banking system is headed for more turmoil after the rescues of Silicon Valley Bank and Credit Suisse.

The Times of India

'I'm running the business as if I will never fundraise again,' says Crunchbase CEO

Companies raised 53% less in the first quarter than they did in 2022.

Fortune

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Investors looking to protect against uncertainty could cash in with bonds

Bond yields are back, Daniel B. Berkowitz has been telling clients at Philadelphia-based Prudent Asset Management, which manages $1 billion for investors including Congregation Rodeph Shalom and family-business owners.

The Philadelphia Inquirer

Financial turmoil will be felt for years, says JP Morgan boss

Jamie Dimon says downfalls of Silicon Valley Bank and Credit Suisse have undermined confidence

The Guardian - UK

Are Regional Bank Stocks a Buy?

Regional bank stocks might look cheap, but analysts caution against going bargain hunting just yet.

Kiplinger

JPMorgan Chase boss: banking crisis is ‘not yet over’

The CEO of America’s biggest bank said the US Federal Reserve should take some of the blame for the sector’s recent troubles

Evening Standard

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The banking crisis has a silver lining. Businesses might actually start protecting their cash

Humans are naturally quite bad at projecting risk. We rarely think about what might happen if there is a sudden ban run and our deposits are in peril.

Fortune

MAGA rule will be ruinous for earth

MAGA seems intent on driving this country and our world all too literally to hell in a handbasket

Salon

Commentary: Banking, democracy and trust

In a key scene in the classic Frank Capra film “It’s a Wonderful Life,” George Bailey (played by a noble, sincere James Stewart), faced with a run on his family-owned bank instigated by the evil, grasping Old Man Potter (played by a sneering Lionel Barrymore), tries to convince his friends…

Tribune News Service

Balancing act: Why central banks are cautious after bank crisis

Central banks are seen treading carefully following the sudden collapses of Silicon Valley Bank and Credit Suisse.

Al Jazeera

Bank failures likely to ‘exacerbate the existing liquidity crunch’ within the commercial real estate market

Experts in the commercial real estate space didn't mince words when speaking with Fortune: Buckle up, they say, for more CRE defaults.

Fortune

Delaying NatWest share sales doesn’t matter. Just get the best price

A formal date can concentrate minds, yet the priority must be the achievement of value for the public purse

The Guardian - UK

Mercury Takes Aim At Replacing Silicon Valley Bank As Tech Hubs Go-To Bank And Lender

Silicon Valley Bank’s collapse has paved the way for other banking institutions to step up and meet demand for venture debt

Zenger

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Los Angeles Times

Michael Hiltzik: How Trump's frenzy of deregulation killed Silicon Valley Bank

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.

Fortune

A top strategist says ‘massive unrealized losses’ are a ‘Pandora’s box’ for banks and it’s going to impact lending

Bank volatility has finally started to calm down, but the sector has underlying issues that will be harder to fix.

Miami Herald

The Week Ahead: What difference will a month with two bank failures make for jobs?

Thirty days ago, few Americans knew what Silicon Valley Bank was or worried about their own bank accounts. Thirty days ago, the Federal Reserve had one fight on its hands: inflation. Thirty days ago, investors were buoyed by decent economic data — but not too strong — supporting confidence the…

Evening Standard

Silicon slump? How worried should we be about another financial crisis?

The collapse of Silicon Valley Bank has raised the spectre of another financial crisis. As the contagion appears to be spreading, Samuel Fishwick investigates how spooked we should be feeling

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Financial Times

Lex in depth: how safe are America’s regional banks?

After the recent failures of Silicon Valley Bank and others, the FT has analysed more than 100 institutions to identify those that are the biggest cause for concern

ABC News

ASX breaks seven-week losing streak on the back of stable commodity prices, builders Lloyd Group and Porter Davis collapse — as it happened

The ASX is on track to finish the day's trade with its first weekly gain in seven weeks as stable commodity prices bolster mining stocks. Look back on the day's events as they happened with our blog.

WEKU

Biden asks banking regulators to toughen some rules after recent bank failures

President Biden on Thursday urged banking regulators to take additional steps to reduce the risk of more mid-sized bank failures like Silicon Valley Bank and Signature Bank.

Axios

In the wake of SVB collapse, the White House is calling for new rules for regional banks

The administration wants to reverse some Trump-era policies

The Independent UK

Yellen seeking more regulation in aftermath of bank collapse

Weeks after the failure of two banks, Treasury Secretary Janet Yellen is planning to call Thursday for tighter financial regulations

Fortune

One of the world's richest men knows why Silicon Valley Bank really failed: 'People on iPhones'

Stephen Schwartzman, worth $42 billion and at the head of a firm managing almost $1 trillion, says social media is what doomed the bank.

Zenger

Biden Eyes New Regulations As Congress Dives Into Silicon Valley, Signature Bank Failures

President Joe Biden is expected to tighten regulations on banks, prompted by the biggest banking collapse since the 2008 crisis

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