protected right now. but this is a bank that was like handing out perks to all of these tech founders, and these vcs. like oh, jet loans. you need a loan on your house? you need some liquid for a $20 million house or $30 million house? or are they doing? you were paying fdic insurance on deposits up to $250,000, so you were really making reckless decisions and not paying to have all of your deposits covered, and the ceos and executives were getting paid for it. sandra: what i think is fascinating at this moment when you look at markets, by the way, just a few moments ago, it has gone off to a rough start right away, 6:00 trading on the futures market last night. there was a bit of a relief rally, then a sell off, then i bounce back a few you could see the green on the screens, and now we have gone back into
shutting its doors. its demise sending shock waves through global markets and battering banking stocks. a branch in new york city had to call the cops on some of the tech company founders, folks who have lots of money in that silicon valley bank. when they showed up to command their money. nate foy is out that branch, it s got the doors locked and, of course, closed today. nate, what s the latest? reporter: well,st it s certainly a much more quiet day than yesterday. after you mentioned that group of about a dozen tech founders and ceos came here to the lone branch. of the bank here many new york trying to withdraw their funds. the cops were called on them, they were told to come back on monday morning as were people who were looking to do the same hinge in california waiting outside the banks. but this came just one day after the largest bank run many in u.s. history where customers of the bank withdrew $42 the billion in one day which amounted to over a million dollars per second o
trying to get cash out, prompting police blocking to the manhattan branch. nate foy joins us with the latest on this. hi, nate. hey, anita, this triggered the largest bank runs in u.s. history. withdrew $42 billion on thursday which worked out to over a million dollars every single second over a 10-hour period. a much more quiet day here than at the hone silicon valley branch in new york. as a dozen tech founders and ceo s showed up. they were turned away and the cops were called. take a look at the video. it happened after the shocking announcement of a $1.8 billion loss at the bank. depositors were turned away not only here, but also in california. the bank crumbled after a loss and they re known for the tech
for uninsured depositors dividends with what s left in bank. you mentioned this is the second biggest bank failure in u.s. history behind washington mutual back in 2008. we will send it back to you. griff: so, nate, to be clear, the bank behind you, the branch will be open, likely to have quite a lot of activity with people worried about about their money. that s exactly right, griff. right here where i m standing right now is where a dozen tech founders and ceo s were here yesterday, the managers inside didn t know what to do, they called the cops on them. the cops came and everything was cordial and was asked to leave and will be back on monday to ensure the $250,000 but as i mentioned a lot of corporations
silicon valley bank and seizing deposits and what experts are calling the largest bank collapse since 2008 financial crisis. investors scrambled to get cash out yesterday prompting police to block access to an sbb bank in manhattan. hey, nate. reporter: the collapse triggered the biggest bang run in u.s. history. customers at the bank with drew $42 billion, this was on thursday, works out over a million dollars every single second for a period of ten hours. one day later yesterday customers weren t so lucky especially here in new york at the lone branch behind me. tech founders and ceo s showed up here trying to withdraw their money not only were they turned away the cops were called on them. people in california were also left waiting outside the bank, take a look at this video, came after shocking announcement of bank of $1.8 billion loss and bank crumbled after seeing