Silicon Valley Bank closed by regulators.
2nd largest bank failure in US history.
CEO was on the board of the San Fran Federal Reserve Bank now fired.
Funded the #SiliconValleyOligarchs
Major player in venture funding & ESG shell games.
#ButNothingsHappening
A lot of Chinese involvement in that bank too...
It is a key nexus of tech companies, hedge funds, crypto, woke banking & hostile foreign investment.
Looks like the insiders got to sell their stock before it collapsed though...
Lots of companies had their cash in SVB, that money isn't insured by FDIC!
Of course...
Looks like rapid inflation & interest rate increases put all of the Swampy banks at risk...
netinterest.co/p/the-demise-o…
I've done a few threads in the past on Silicon Valley Bank.
Like when they gave a private equity fund manager $95M without verifying his information. Something they wouldn't do for customers taking routine loans.
Silicon Valley Bank is one of the 10 banks who got Epstein related subpoenas from the AG in the US Virgin Islands who was trying to find his sources of money.
I noted their Chairman working in China while serving on the San Francisco Federal Reserve Bank board as something that seemed very Swampy.
I found it very odd that the private equity fund manager was indicted only 1 month after he borrowed the $95M from SVB.
He or the the bank had to been under investigation before the loan was made.
Looks like their venutre capitalist friends got out first...
nytimes.com/2023/03/10/bus…
But the bailout they wanted Friday morning didn't materialize.
Wonder how many Swamp creatures they will approach in an effort to get a bailout for their Chinese & Silicon Valley oligarchs?
businessinsider.com/silicon-valley…
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