03.13.23 SPECIAL EDITION - The Failure of Silicon Valley Bank

SPECIAL EDITION - The Failure of Silicon Valley Bank Clark discusses this week’s SVB failure including the strength and scope of this bank, how much of the deposits were insured & the security of funds generally, the impact on businesses and how the federal government has had to step in. Clark also answers initial questions for what will be his ongoing coverage of this event as needed moving forward. Mentioned on the show NYTimes: Regulators Close Second Bank and Move to Ensure Deposits Deposit Insurance - FDIC Certificate of Deposit Account Registry Service - Wikipedia SIPC - Securities Investor Protection Corporation Roku Warns of Potential Losses From SVB Failure SVB Rocks California as Rich Founders Join Napa Vintners in Fear NYTimes: Silicon Valley Bank Fails After Run by Venture Capital Customers SVB Is First FDIC-Insured Institution to Fail in 2023 NYTimes.com: The Second-Biggest Bank Failure [The Washington Post] Here’s how much of your bank deposits are FDIC protected NYTimes.com: Silicon Valley Bank Collapse Sets Off Blame Game in Tech Industry Clark.com resources Episode transcripts Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices