Birdwatch Note Rating
2023-03-20 20:31:39 UTC - HELPFUL
Rated by Participant: 2D4C83A96BA3B1DE6B629ABC08A9535751418C9761E70F4356D07687F99ABC1A
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/ 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