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It, my nbc colleagues, jak ward, shannon petty. former wall street banke turned journalist, my friend bill cohen,. before we get into it, let s remind our audience of how w got there. silicon valley bank i, the preeminent bank in the valle for tech it s where all the start o stood their business in many cases, were forced t do their business. guess what covid hits, remember, tech boomed huge investment. this bank went from having 4 billion dollars in management, to almost 200 billion. then they made a colossa mistake and invested a whole bunch of that cash that they had, in the treasury market. mortgage backed securities jus before interest rates went up. lo and behold, interest rate go up. the value of those assets went down, then silicon valley bank had a big hole, it could hav privately gone to some big existing investors over weekend. when these things normally happen then by monday, said, we ve go some rescue financing, we re good to go instead, they went out to th public markets ....
They were successful they got exactly what they wanted absolutely. they got what they wanted i don t know they r tweeting this is a - they called mother doing. this is not just a anomie this is a strategy you don t want your bank to go down, to keep quiet when you bank is going south. the moment when your bank is gone, and they want everybod else to believe their bank i next in line because once that happens, you get the political to enter for exactly the sort of deal the ended up getting, which is the federal government standing up and making sure that every single veasey in the valle gets up 100 cents for ever dollar they have their their whining was abou creating panic to create a government solution. and they got what the wanted, the rescue fortunately, that rescue i helping all sorts of depositors, the smaller s the biggest. kara swisher, justin wolfers like you so much kara, i know you just got off ....
These women are using their voices and leadership to help save the planet internationalrivers.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from internationalrivers.org Daily Mail and Mail on Sunday newspapers.
Seven years ago, the world lost Berta Cáceres - a Honduran environmental and Indigenous activist killed in her home in La Esperanza, just two days before her 45th birthday ....