Silicon Valley Bank’s Uninsured Depositors Bailed Out. Crypto Signature Bank Shut Down, All Depositors Bailed Out. Senior Execs Fired. All Shareholders, Some Bondholders Bailed In by Wolf Richter • Mar 12, 2023 • 581 Comments Treasury/Fed/FDIC issue joint statement with Tough Love for investors in failed banks.
SVB Financial had Investment-Grade Credit Ratings (Moody’s, S&P) up to Collapse. Got Slashed in One Fell Swoop to Default by Wolf Richter • Mar 11, 2023 • 325 Comments Not learned a thing since the Financial Crisis. Relying on ratings, preferred stock holders found themselves bailed in, bondholders got crushed.
RIP Silicon Valley Bank: Shut Down by California Regulator, Taken Over by FDIC, Shareholders Bailed In, Insured Depositors to Get their Cash by Monday by Wolf Richter • Mar 10, 2023 • 379 Comments The bank survived the Dotcom Bust. But this bust is far bigger because the Free-Money bubble was far bigger. FDIC may not have a loss on this deal.
Bank Stocks Got Wacked: Between a Rock and a Hard Place as Banks Run Out Free Money by Wolf Richter • Mar 9, 2023 • 187 Comments Oh dearie, those bonds.
SVB Financial/Silicon Valley Bank Shares Collapse 55% Today, 84% from Consensual Hallucination Peak, as it Shores Up Balance Sheet & Liquidity to Face the Future by Wolf Richter • Mar 9, 2023 • 255 Comments SVB is massively involved in all segments of the startup scene that is now facing a mass extinction event.
Crypto Bank Silvergate to Shut Down and Liquidate, after FDIC Examiners Show up. Shares Collapse Entirely by Wolf Richter • Mar 8, 2023 • 160 Comments In 16 months from $239 at peak crypto consensual hallucination to $2.76, including the 44% plunge afterhours.
I Just Filled Out the Census Bureau Survey that Wolf Street Corp Got for the “2022 Economic Census”: Here’s what it was Like by Wolf Richter • Mar 6, 2023 • 87 Comments Completing the survey is “required by law.” Four million businesses with employees received it, including Wolf Street Corp.
Crypto Bank Silvergate Issues “Going Concern” Warning, Says Q4 Financials with $1 Billion Loss Were Fake, Loss Was Even Bigger, Frets about “Regulatory Capital Ratios” by Wolf Richter • Mar 1, 2023 • 67 Comments It just keeps getting funnier with this crypto stuff. Shares crush dip buyers after hours.
Bond Market a Tad Antsy about Inflation Not Just Vanishing? One-Year Yield Nears 5%. Mortgage Rates Back at 6.5% by Wolf Richter • Feb 13, 2023 • 157 Comments “The equity market is refusing to accept this reality”: Morgan Stanley.
SNB Cuts Holdings of All its Top 50 US Stocks in Q4: Apple Chopped by 8% since Q2. MSFT, GOOG, AMZN, TSLA, XOM, All by Wolf Richter • Feb 9, 2023 • 47 Comments Here is the list of the Swiss National Bank’s top 50 US stock holdings, and how much of each it dumped.
