Silicon Valley Bank historic meltdown last week was largely attributed to deteriorating business conditions in the firm’s concentrated customer base and an ill-timed decision to invest billions of dollars in mortgage-backed securities. .... source CNBC.
another points is that its own Customers are responsible for this situation, as one has a deposit of $750,000 with SVB, which is triple the amount insured by the Federal Deposit Insurance Corporation; Roughly 95% of SVB’s deposits are uninsured, which makes the bank particularly unique in that it serves primarily businesses ... so I say God bless them.
& now this I call as funny to the power 2, as
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