As depositors asked to withdraw their money, SVB was forced to sell many of these bonds at steep losses, which raised concerns it wouldn't have enough assets to pay out all the debts it owed as and when people demanded their money.
"The head of SVB was the one who lobbied to get those requirements that their bank be able to pass a stress test removed in 2018," she said."So I think you really want to focus on the risk taking." Capital Economics' chief European economist Andrew Kenningham said Credit Suisse's bad news came out at an inopportune time after SVB's sudden demise.
"I'm not saying it's free money, but you can borrow at a very reasonable cost against the full value of that asset, rather than the current market value of that asset," he explained.
In part you're right. These collapses are going to be the start of an economic collapse worse than we've ever seen before. 2008 will be remembered as a walk in the park compared to this one.
Oh really bitcoin doesn’t need bailouts 😂😂😂… wetoldyou theorangepill stacyherbert maxkeiser nayibbukele
Experts or Drips under pressure. Get ready for another bumpy economic ride.
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