March 26

You Should Be Outraged About Silicon Valley Bank


You should be mad about the chaotic and swift collapse of Silicon Valley Bank.

If you are a customer of Silicon Valley Bank, you should be furious with its executives for their incompetent risk management and poor communications strategy. If you work in start-ups or the technology sector, you should be angry at the venture capitalists who spurred a bank run at SVB only to turn around and beg for Uncle Sam’s help with impudence.

Perhaps most of all, you should be furious with the American government—not for its creation and execution of a bailout to protect the broader financial sector, but because its help was needed in the first place. You should be mad at Congress for loosening regulations on medium-size banks like SVB five years ago. And you should be mad at the federal and state regulators who, as supervisors of the system, allowed this mess to happen.

Learn more here by Annie Lowrey


bank, silicon-valley

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