ex crypto game, you may recall self-described financial experts, the media were busy promoting silicon valley banksia as a great investment thatreat would last forever. the formerly great, but now quite embarrassing forbes the magazine, in fact, named svp to its list of america s best banks, not once, but five years in a row. and of course, inevitably, you saw this coming here is professional b.s. or this dumb person,artist/dum jim cramf cnbc, telling his viewerss to buy silicon valley bank,s ofg even if it was i un the process of going . this is last month. sbb financials don t. this company is a merchant bank with a deposit base. the wall street have been has bestapling concerned about, as you see on silicon valley bank recently bought one of our favorite research firms,d bofa. come less depe this it s become less dependent upon private equity venturnden e capital offerings. wait a second. the s dried up this year. they could come back long term private equity, venture capital
ba banks in this country, wellsnkco fargo, bank of americauntry,, jp morgan, morgan stanley, collectively lost more tha nne fifty billion in market value in one day. that s quite a hiat s a ht. on the other hand , those bankss still exist. and you can t see that for bank.n valley as of this morning, silicon valley bank or svp, has gone under completely.es the that makes the second biggest bank failure in the history ofef this country and the significant sub finance, nearly half of all venture backed health care and technology companies in the unite healthcai states .ant cash it also apparently held significant cash reserves, just one of the biggestrves for cryptocurrencies, and it s now gone. federal regulators have renamed it and taken it over.ov and that means an awfu l lotf m more people lost an awful lot of money and most of that money was not insured. nhat theyno matter what they t, the fdic only guarantees bank fdicdeposits up to two hundred and fifty thousand. an