Birdwatch Note Rating
2023-03-13 13:03:43 UTC - HELPFUL
Rated by Participant: 0C2446B60BA6919EFD790AC21AB7D7291731A9905C23FE5D41F19BA797CF10F6
Participant Details
Original Note:
SVB took in tens of billions of dollars from its venture capital clients and then, confident that rates would stay steady, plowed that cash into longer-term bonds. The increasing interest rate caused their failure, not Peter Thiel. https://news.yahoo.com/svb-spectacularly-fails-unthinkable-heresy-222710493.html https://markets.businessinsider.com/news/stocks/silicon-valley-bank-failure-collapse-interest-rate-hikes-financial-risks-2023-3 Rep. Katie Porter (D-Calif.): https://thehill.com/homenews/sunday-talk-shows/3896422-porter-on-silicon-valley-bank-collapse-you-cant-bet-on-interest-rates-staying-low-forever/
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