And, no, 'The Simpsons' did not predict this latest U.S. crisis.
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Just hours after Silicon Valley Bank collapsed on March 10, 2023, the internet lit up with rumors about the closure's possible ramifications for the economy. The speculation only intensified in the coming days, with the closure of the New York-based Signature Bank and a weekend of meetings among regulators and politicians, including U.S. President Joe Biden, to try to stave off potential ripples throughout the banking industry.
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Fed was aware of Silicon Valley Bank problems more than a year before its collapseThe Federal Reserve was aware of risks to Silicon Valley Bank more than a year before its collapse, ABC News confirmed.
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Silicon Valley Bank Employees Think Remote Work Contributed to CollapseIn the aftermath of the collapse of Silicon Valley Bank (SVB), the 16th biggest bank in the country, many are left wondering what went wrong. Both current and former employees have stated that the bank's support of remote work is a contributing factor.
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