Tag Archives: SVB

If SVB Was Insolvent, So Is Everyone Else

(Simon Black) On Sunday afternoon, September 14, 2008, hundreds of employees of the financial giant Lehman Brothers walked into the bank’s headquarters at 745 Seventh Avenue in New York City to clear out their offices and desks.

Lehman was hours away from declaring bankruptcy. And its collapse the next day triggered the worst economic and financial devastation since the Great Depression.

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“Expect Mass Layoffs…” – The Real-World Impact Of Silicon Valley Bank’s Failure

(ZeroHedge) For most people in America, the news that a ‘bank in Silicon Valley’ has failed will be forgotten quicker than a story about soaring shoplifting in their local supermarket.

It shouldn’t.

Reality is that the contagion of the shuttering of the 18th largest bank in the US are widespread.

SVB is in fact the second largest (by assets) bank failure in US history after WaMu.

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