Silicon Valley Bank Under FDIC Control
by Brian Wang from NextBigFuture.com on (#69N97)
Silicon Valley Bank shares fell 80% today and in after-hours trading from where they were at the beginning of yesterday. Silicon Valley Bank lost $1.8 billion in the sale of U.S. treasuries and mortgage-backed securities that it had invested in, owing to rising interest rates. Customer deposits including Peter Thiel's Founder Fund companies pulled deposits ...