Birdwatch Note Rating
2023-03-14 13:54:54 UTC - SOMEWHAT_HELPFUL
Rated by Participant: B2DC698E496C10B5830E149399135CDF25892F58D835971BCCF1A13D86C59C4F
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