Mar 11, 2023
It’s been quite a day for Silicon Valley. Stock prices for Silicon Valley Bank plunged from a hearty 260 to a meager 26, a whopping 90% reduction, over the course of just a few days! Solvency and liquidity have become an urgent issue for Silicon Valley bank as it has backed many FinTech startups over the years, many of which were crypto firms that have been going under. First Republic Bank also took a solid hit today signaling that this situation could have national and global ramifications. Joe Cucchiara and Jack Russo discuss the big effects we will see following the failure of Silicon Valley Bank.
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