Black Monday looms on the horizon... Will the Fed be able to prevent widespread panic on the part of investors and maintain the illusion of stability in the financial House of Cards?
-NW

Two U.S. Banks Collapse in 48 Hours. Which One's Next?
Silvergate served the cryptocurrency industry, while SVB was the bank for Silicon Valley tech startups.
LUC OLINGA
The Street
MAR 10, 2023

[snip]

It's a black week for the American financial system: In just 48 hours, the banking sector has been shaken by the collapse of two major banks.

Most worrying is that these banks served two so-called growth economic sectors: the tech sector and the cryptocurrency industry.

SVB Financial Group, (SIVB) - Get Free Report the lender to Silicon Valley startups, failed on March 10, falling into the hands of the FDIC. The federal agency has taken control of the banking company, reviving the ghosts of the 2008 financial crisis.