In a matter of a few days, Silicon Valley Bank collapsed when a panic set in, causing a run on deposits. “The blue chip VCs suggested something, then that leaked to other ones, then other ones — we had all our investors calling us and basically demanding we pull our cash,” one source told Ryan Grim. This week on Deconstructed, Grim is joined by Damon Silvers, who has been involved in trying to prevent financial fraud and crisis for more than 20 years. He was the deputy chair of the Congressional Oversight Panel for the Troubled Asset Relief Program, the 2008 bank bailout, and was formerly the policy director of the AFL-CIO.
Share this post
Understanding the Silicon Valley Bank Run
Share this post
In a matter of a few days, Silicon Valley Bank collapsed when a panic set in, causing a run on deposits. “The blue chip VCs suggested something, then that leaked to other ones, then other ones — we had all our investors calling us and basically demanding we pull our cash,” one source told Ryan Grim. This week on Deconstructed, Grim is joined by Damon Silvers, who has been involved in trying to prevent financial fraud and crisis for more than 20 years. He was the deputy chair of the Congressional Oversight Panel for the Troubled Asset Relief Program, the 2008 bank bailout, and was formerly the policy director of the AFL-CIO.