A Philadelphia startup company says they lost millions of dollars following the collapse of Silicon Valley Bank on Friday. JohnnyNBC10 spoke to the founder who says the FDIC stepped in to help.
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How Silicon Valley Turned on Silicon Valley BankThe fallout from Silicon Valley Bank threatens to engulf Silicon Valley—and has put the rest of the banking system on edge
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Bank regulators seize Silicon Valley Bank in largest bank failure since the Great RecessionThe bank failed after depositors — mostly technology workers and venture capital-backed companies — began withdrawing their money creating a run on the bank.
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Can the Government Contain a Banking Crisis? - The Journal. - WSJ PodcastsWhen Silicon Valley Bank imploded last week, it was the second biggest bank failure in U.S. history. Then, over the weekend, another bank, Signature Bank, was also taken over by the government. WSJ financial editor Charles Forelle explains what kicked off this banking crisis and how the government is scrambling to contain it. Further Reading: - How Silicon Valley Turned on Silicon Valley Bank - Silicon Valley Bank Closed by Regulators, FDIC Takes Control - Were SVB and Signature Bank Just Bailed Out by the U.S. Government?
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‘Nip the bank in the bud’: Calls to rescue collapsed Silicon Valley Bank galoreTech celebrities and pundits have urged the U.S. federal government to pressure other banks to take over the defunct Silicon Valley Bank (SVB) in order to protect uninsured deposits.
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Bank of London bids to acquire Silicon Valley Bank's UK armThe Bank of London is leading a consortium of private equity firms seeking to purchase SVB's arm in the United Kingdom.
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Silicon Valley Bank collapse: FDIC holding auction for bank, final bids due SundayThe Federal Deposit Insurance Corporation started an auction on late Saturday for Silicon Valley Bank, with all bids due by Sunday afternoon, according to people familiar with the situation.
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