Silicon Valley Bank: A one-off calamity? | March 17, 2023 | Palo Alto Weekly | Palo Alto Online |

Palo Alto Weekly

News - March 17, 2023

Silicon Valley Bank: A one-off calamity?

After last week's failure of the cornerstone bank for the start-up economy, experts weigh in on lasting impacts

by Ben Christopher and Keith Burbank

On Friday morning, March 10, California saw something the country hasn't witnessed since the bad old days of the 2008 financial crisis: The collapse of a major bank.

This story contains 1858 words.

Stories older than 90 days are available only to subscribing members. Please help sustain quality local journalism by becoming a subscribing member today.

If you are already a member, please log in so you can continue to enjoy unlimited access to stories and archives. Membership starts at $12 per month and may be cancelled at any time.

Log in     Join

Reporters Ben Christopher and Keith Burbank write for CalMatters and Bay City News Service, respectively.

Comments

Posted by John
a resident of Adobe-Meadow
on Mar 11, 2023 at 2:33 pm

John is a registered user.

If you keep more than a quarter million in ANY bank account, you should familiarize yourself with the term "bail-in" and perhaps look up video of the Nov 2022 FDIC meeting where they acknowledge multiple bank runs are coming this year.


Don't miss out on the discussion!
Sign up to be notified of new comments on this topic.

Email:


Post a comment

Sorry, but further commenting on this topic has been closed.

Stay informed.

Get the day's top headlines from Palo Alto Online sent to your inbox in the Express newsletter.

 

Palo Alto Weekly Holiday Fund

For the last 30 years, the Palo Alto Weekly Holiday Fund has given away almost $10 million to local nonprofits serving children and families. 100% of the funds go directly to local programs. It’s a great way to ensure your charitable donations are working at home.

DONATE TODAY