Birdwatch Note Rating
2023-03-20 16:54:52 UTC - HELPFUL
Rated by Participant: 7BB0778F472203440A7F1B58CA4762B1A53E34CE2B977A0D8A8AECB7C2FA67FF
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