Birdwatch Note Rating
2023-03-11 05:38:34 UTC - HELPFUL
Rated by Participant: E8332AECE0F6656E2D79163438BA17483E3978D4446B93F82081AD2649EDA232
Participant Details
Original Note:
Silicon Valley Bank collapsed due to excessive customer withdrawals, or a "run on the bank", due rising interest rates from The Fed and decreased risk tolerance from investors. No one besides Mr. Kirk, including the bank or regulators, are saying DEI efforts caused this. https://www.reuters.com/business/finance/what-caused-silicon-valley-banks-failure-2023-03-10/ https://www.theguardian.com/us-news/2023/mar/10/silicon-valley-bank-collapse-explainer
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