Silicon Valley Bank collapse due to ‘poor governance’

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Former Ambassador to the United States Joe Hockey says the Silicon Valley Bank collapse was due to “poor governance” as it took deposits and “didn’t lend money”.

“And instead of lending money and taking mortgages over people’s homes and so on, it went and invested the money in bad

investments that gave them no room to move when interest rates inevitably began to rise,” Mr Hockey told Sky News host Sharri Markson.

 

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