House Energy and Commerce Committee Health Subcommittee Chair Anna Eshoo (D-Calif.) listens to Health and Human Services Secretary Alex Azar as he testifies about the the FY2src in the Rayburn House Office Building on Capitol Hill on Feb. 26, 2src2src in Washington. | Chip Somodevilla/Getty Images Outgoing California Rep. Anna Eshooâs biggest tech regret isnât
California’s Dem Senate hopefuls vie for higher ground over Silicon Valley Bank debacle
Rep. Katie Porter leaned on those bonafides to spotlight a bipartisan 2src18 bill that, she argues, carved up landmark Wall Street reforms that were put in place after the last global financial crisis. | Apu Gomes/Getty Images The Democrats vying in Californiaâs already-heated 2src24 Senate contest donât disagree much on the response to Silicon Valley
Report: Silicon Valley Bank Trying to Find Buyer over the Weekend
The parent company of Silicon Valley Bank (SVB) is looking for a buyer after the bank was shuttered by regulators on Friday amid a massive drain of deposits and losses on its securities portfolio, Bloomberg reported. âA transaction might involve selling the companyâs assets piecemeal or as a whole, according to a person familiar with the matter,â Bloomberg reported. âThe goal is to complete a deal
Silicon Valley Bank Run Drained $42 Billion of Deposits
Philip Pacheco/Bloomberg via Getty Images The collapse of Silicon Valley Bank was caused by a massive run on the bank, with customers initiating withdrawals of $42 billion this week. The bank was placed into Federal Deposit Insurance Corp. receivership on Friday after the California Department of Financial Protection and Innovation (DFPI) determined the bank had
Chris Whalen: Collapse of Silicon Valley Bank ‘Goes to the Feet of Jerome Powell’ and Federal Reserve
Chris Whalen, chairman of Whalen Global Advisors, blamed Federal Reserve Chair Jerome Powell for the failure of Silicon Valley Bank (SVP) in a Friday interview on Forward Guidance with host Jack Farley. The Federal Reserveâs raising of interest rates ârendered the bank insolvent,â Whalen remarked. He said: Rising rates cause book value to go down
Report: Police Called to Silicon Valley Bank’s NYC BranchÂ
AP Photo/Jeff Chiu Police were reportedly called to Silicon Valley Bankâs Manhattan branch on Friday after depositors attempting to withdraw funds were locked out of the bank. The incident was the result of a bank run on its main branch in Silicon Valley with customers initiating withdrawals of $42 billion. On Friday, the bank was
Silicon Valley Bank CEO Sold $3.57 Million of Stock Two Weeks Before Bank Collapsed
The CEO of Silicon Valley Bank (SVB) sold $3.57 million of company stock just two weeks before the technology sectorâs primary financial institution collapsed on Friday, according to federal filings. SVB CEO and President Greg Becker on February 27 sold 12,451 shares of common stock at an average price of $287.42, or $3,578,652.31 in total.
Report: Loans to Silicon Valley Bank Insiders Tripled to Record High as Collapse Loomed
Following the collapse of Silicon Valley Bank, reviews of the companyâs internal practices have revealed that loans to insiders tripled to $219 million before the bank failed. Bloomberg reports that last month, Silicon Valley Bank failed as a result of a $42 billion bank run from investors and depositors. The bankâs internal problems have come
Silicon Valley Bank Doubled Down on Far-Left Policies Despite Hundreds of Millions in Losses
In the aftermath of the catastrophic collapse of the Silicon Valley Bank (SVB), new details have emerged revealing just how much the bank continued to double down on far-left âdiversityâ policies despite previously suffering losses to the tune of hundreds of millions of dollars. As reported by Just The News, the transcript of an investorsâ […]
Silicon Valley Bank Is Already Hunting for New Customers
Silicon Valley Bank, which collapsed over the weekend in the second-largest bank crash in American history, says it is âopen for businessâ and soliciting new customers.In a message shared with customers and posted on the bankâs website, CEO Tim Mayopoulosâwho was put in charge by federal regulators who seized the bankâurged clients to move their
Conservatives Point to ‘Bidenflation’ as Cause of Silicon Valley Bank Closure; Gaetz Vows to Stand Against Bailout
Conservatives Point to âBidenflationâ as Cause of Silicon Valley Bank Closure; Gaetz Vows to Stand Against Bailout Justin Sullivan/Lev Radin/Pacific Press/LightRocket via Getty Images Prominent conservatives throughout politics and media reacted to the sudden closure of the Silicon Valley Bank (SVB) on Friday. Rep. Matt Gaetz (R-FL) is already standing firm against bailouts for the
Silicon Valley Slash and Burn: Google Layoffs Extend All the Way to Robots
NurPhoto / Contributor/Getty Tech giant Google recently laid off thousands of employees, and the cuts didnât stop there. The tech giant has laid off a team of robots trained to clear trash and perform other cleaning duties. Wired reports that Google recently laid off thousands of workers. Part of those layoffs includes the team behind Everyday
âI Fear Censorshipâ: Meghan McCain Warns âFive Dorks In Silicon Valleyâ Have Too Much Power
Meghan McCain said Monday that Twitterâs move to purge thousands of accounts only heightened concerns about censorship and the power held by Silicon Valley. During a segment of ABCâs âThe View,â McCain addressed the news that President Donald Trump â along with a number of other accounts â had been banned from Twitter. Saying that…
Infowars Website Traffic Explodes After Silicon Valley Blacklists Alex Jones Empire
Silicon Valley’s coordinated purge of all things Infowars from social media has had an unexpected result; website traffic to Infowars.com has soared in the past week, according to Amazon’s website ranking service Alexa. Infowars was recently banned by YouTube, Facebook, iTunes, Google Podcast, Spotify, iHeartRadio, MailChimp, Disqus, LinkedIn, Flickr, Pinterest and several others – leading […]
The Coming Financial Backlash For Silicon Valley – Facebook and Twitter Read This
Silicon Valley has a problem, a very big problem. And itâs not rooted in just the geographic location. Everything (and I do mean everything) that was once assumed âa givenâ or, âtotally worth itâ or, the more memorable âitâs different this timeâ rationales as it pertained to startups, social media, valuations, user metrics, IPOs, unicorns, […]