Silicon Valley Bank failure. There a risky loan portfolio basically makes all of us wonder if this will spread to other banks. We could have a serious meltdown of the banking industry.
This is definitely going to be a train wreck for the economy since 2019 a new product called special, purpose acquisition fund Brought companies to the stock market in a way that was dishonest because these companies probably should not have ever been allowed to go public.
Under normal underwriting situation, they would not have been underwritten.
But because of greed of Silicon Valley Bank, and other firms just like it, they brought hundreds of these companies to the public market and screwed investors with their junk stock that is now worthless. One of the leaders in this market was Silicon Valley Bank.
The titanic has hit a very serious iceberg. 
Very interesting I just hope that this is not going to be a contagion for other banks.
https://www.barrons.com/articles/svb-financial-stock-portfolio-outlook-loss-93287f3d
Leave a Reply