WTF Is Up With the Silicon Valley Bank Bailout?
Collapse. It’s the word on everybody’s lips. Silicon Valley Bank and Signature are no more. The banks, folks, they’ve collapsed. But don’t worry, these aren’t your typical banks. SVB and Signature were not the kinds of places working class folks were holding checking accounts. These were massive institutions that propped up America’s ailing tech sector. If you’ve been hustled by an NFT startup in the past year, there’s a good chance it had deposits at SVB.
But now they’re gone and, after some panic, it looks like America’s blessed institutions are working as intended. The Federal Deposit Insurance Corporation is gonna clean all this up. But should they?
On this episode of Cyber, Motherboard Managing Editor Jordan Pearson sits down to answer the question.
Stories discussed in this episode:
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