03.13.23 SPECIAL EDITION – The Failure of Silicon Valley Bank

SPECIAL EDITION – The Failure of Silicon Valley Bank

Clark discusses this week’s SVB failure including the strength and scope of this bank, how much of the deposits were insured & the security of funds generally, the impact on businesses and how the federal government has had to step in. Clark also answers initial questions for what will be his ongoing coverage of this event as needed moving forward.

Mentioned on the show

• NYTimes: Regulators Close Second Bank and Move to Ensure Deposits
• Deposit Insurance – FDIC
• Certificate of Deposit Account Registry Service – Wikipedia
• SIPC – Securities Investor Protection Corporation
• Roku Warns of Potential Losses From SVB Failure
• SVB Rocks California as Rich Founders Join Napa Vintners in Fear
• NYTimes: Silicon Valley Bank Fails After Run by Venture Capital Customers
• SVB Is First FDIC-Insured Institution to Fail in 2023
• NYTimes.com: The Second-Biggest Bank Failure
• [The Washington Post] Here's how much of your bank deposits are FDIC protected
• NYTimes.com: Silicon Valley Bank Collapse Sets Off Blame Game in Tech Industry

Clark.com resources

• Episode transcripts
• Clark.com daily money newsletter
• Consumer Action Center Free Helpline: 636-492-5275

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