Birdwatch Note Rating
2023-03-16 00:37:35 UTC - NOT_HELPFUL
Rated by Participant: 3922021E2B4C1A4B610B8FAFE0447925B4441B7A397CBAE1E446B9DE65C2A8E3
Participant Details
Original Note:
Bank regs. played barely any role in SVB collapse. The Fed's high interest rates was the main culprit, followed by wave of withdrawals. SVB then sold off its bonds to recoup cash, creating hysteria, & bigger wave of withdrawals follows, leaving SVB depleted: a run on bank. https://www.grid.news/story/economy/2023/03/13/how-the-feds-interest-rate-hikes-endangered-the-banking-sector-leading-to-svbs-collapse/#:~:text=The%20bank%20was%20thus%20uniquely,and%20the%20rest%20is%20history. https://www.forbes.com/sites/conormurray/2023/03/13/what-to-know-about-silicon-valley-banks-collapse-the-biggest-bank-failure-since-2008/
All Note Details