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dewophile

03/11/23 1:10 PM

#245827 RE: iwfal #245826

OT I know everyone says this is a unique/ regional issue but I can’t help but look at my accounts to see where I’m over the FDIC / SIPC limit. The latter is a particular challenge. I keep a lot of money in an ameritrade account. This probably wouldn’t even cross my mind had I not lived through the 2008 crisis
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Biowatch

03/11/23 3:02 PM

#245835 RE: iwfal #245826

1)We’re_fine, 2)We’re_screwed, 3)We’re_Ok-ish

Making payroll was one of the biggest concerns I read about concerning companies banking at SVB.

Expect a lot of startups to vanish.

Another comment was they were perhaps too focused on one industry, particularly an industry well known for sending instant messages and e-mail to one another at lightning speed, hence highly amplifying the chances of a bank run the moment there was any doubt about their liquidity.

In an industry where, “Fake it ‘til you make it,” is a mantra, the odds that the their customers would trust a Silicon Valley Bank to make good on its promises are pretty low.