Birdwatch Note Rating
2023-03-14 19:32:10 UTC - NOT_HELPFUL
Rated by Participant: F1E1E9FBA9F46F70F6DF8BC51D856068D01C77ECBA21114D401028C93F406BDF
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