Birdwatch Note Rating
2023-03-20 18:24:26 UTC - HELPFUL
Rated by Participant: 9BEEAB6A9588E8E20262B07D77D4BFE6231C2CC0393C5BEFE11DD8735280B8E4
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