Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez raised concerns over the 'cozy' relationship between Silicon Valley Bank and its biggest customers.
Bianco Research President Jim Bianco argues the Fed could worsen the banking turmoil by further raising rates on 'Making Money.'
SVB largely catered to tech companies, venture capital firms and high net-worth individuals who were pulling cash at a rapid pace as the once red-hot tech sector cooled. More than 90% of SVB's deposits were in accounts that exceeded the FDIC's $250,000 insurance limit. Once the bank closed, U.S.to contain the fallout and shore up wavering confidence in the financial system, including protecting all deposits at the institution, even those containing more than $250,000.
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Auditor and underwriters cited in SVB collapse lawsuitA lawsuit has been filed citing the auditor and underwriters concerning the collapse of Silicon Valley Bank. The complaint was filed Friday in a San Francisco federal court.
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