The failure of Silicon Valley Bank could spark a run on other regional and mid-sized banks across the country, as wealthy individuals rush to pull their...
The failure of Silicon Valley Bank could spark a run on other regional and mid-sized banks across the country, as wealthy individuals rush to pull their money out of accounts too large for FDIC coverage and flee to larger, more stable institutions amid fears the risk could be systemic, sources told The New York Post.
See: Silicon Valley Bank branches closed by regulator in biggest bank failure since Washington Mutual But potential buyers are skittish about taking over the troubled bank without backing from the federal government. “No one wants to do the deal without a government backstop,” a private equity insider echoed. “The government needs to prepackage a deal, like they did with Lehman.”
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