Birdwatch Note Rating
2023-03-14 18:27:53 UTC - NOT_HELPFUL
Rated by Participant: 9EADA94CE00754DE2C8322C7DF16E984F3F7AF985DF025C869D6975E44317EE0
Participant Details
Original Note:
The rapid rise in interest rates was the direct cause of the SVB failure. As interest rates rose, SVB depositors pulled out their deposits, causing SVB to sell bonds at a $1.8B loss. Venture Capitalists then encouraged a run on the bank of about $42B in one day. https://www.fastcompany.com/90864027/why-svb-failed-silicon-valley-bank-collapse
All Note Details