Quote:
Originally Posted by PsYcNeT
How much of the US population do you think had 250k+ in SVB?
I'm going to guess less than .0001%
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It’s not just individuals though, it was start ups and small businesses. When those companies lose that cash, they can’t pay employees, and that’s a problem. But the bigger issue isn’t just SVB. It’s the loss of confidence and contagion that sparks others with accounts at smaller regionals to withdraw, and then those banks fail. It goes from a liquidity issue, to a systemic issue and you’ve got a catastrophe on your hands.