The financial world has been rocked over the past few days as Silicon Valley Bank, the nation’s 16th largest bank which had $209 billion in assets and $175 billion in deposits as of December, failed with little warning.
This is the 2nd largest bank failure in US history.
Shockwaves from this very fluid situation are still in process of rippling through the Tech ecosystem as many VC-funded start-ups exclusively did their banking there.
And depositors around the country though are suddenly wondering how safe their own banks are.
To bring us up to speed on the latest developments & discusswhat’s most likely to happen from here, former Federal Reserve insider Joseph Wang, who publishes about the inner workings of the monetary and banking systems, has kindly agreed to sit down with me here on a Sunday for this special recording.