Current:Home > FinanceSilicon Valley Bank's collapse and rescue -Quantum Capital Pro
Silicon Valley Bank's collapse and rescue
View
Date:2025-04-14 00:20:11
Silicon Valley Bank was the 16th largest bank in America, the bank of choice for tech startups and big-name venture capitalists. Then, in the span of just a few days, it collapsed. Whispers that SVB might be in trouble spread like wildfire through group texts and Twitter posts. Depositors raced to empty their accounts, withdrawing $42 billion in a single day. Last Friday, after regulators declared that SVB had failed, the FDIC seized the bank.
As the dust settles on the biggest bank failure — and bank rescue — in recent memory, we're still figuring out what happened. But poor investment choices, weak regulation, and customer panic all played their parts. We'll look into the bank's collapse to understand what it can teach us about the business of banking itself.
This episode was produced by Willa Rubin, with help from Dave Blanchard. It was edited by Keith Romer, and engineered by Brian Jarboe. Fact-checking by Sierra Juarez. Our acting executive producer is Jess Jiang.
Music: "I Don't Do Gossip," "Groovy Little Penguins" and "Vision."
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Always free at these links: Apple Podcasts, Spotify, Google Podcasts, NPR One or anywhere you get podcasts.
Find more Planet Money: Twitter / Facebook / Instagram / TikTok our weekly Newsletter.
veryGood! (96)
Related
- Tom Holland's New Venture Revealed
- An Indiana Church Fights for Solar Net-Metering to Save Low-Income Seniors Money
- Greenhouse Gas Emissions Plunge in Response to Coronavirus Pandemic
- Starbucks workers plan a 3-day walkout at 100 U.S. stores in a unionization effort
- Former Syrian official arrested in California who oversaw prison charged with torture
- Hundreds of Toxic Superfund Sites Imperiled by Sea-Level Rise, Study Warns
- Style Meets Function With These 42% Off Deals From Shay Mitchell's Béis
- These 7 charts show how life got pricier (and, yes, cheaper!) in 2022
- Louvre will undergo expansion and restoration project, Macron says
- Florida man's double life is exposed in the hospital when his wife meets his fiancée
Ranking
- Travis Hunter, the 2
- These could be some of the reasons DeSantis hasn't announced a presidential run (yet)
- Massachusetts lawmakers target affirmative action for the wealthy
- Britney Spears hit herself in the face when security for Victor Wembanyama pushed her hand away, police say
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- This Is Not a Drill: Save $60 on the TikTok-Loved Solawave Skincare Wand That Works in 5 Minutes
- With Lengthening Hurricane Season, Meteorologists Will Ditch Greek Names and Start Forecasts Earlier
- Video: Access to Nature and Outdoor Recreation are Critical, Underappreciated Environmental Justice Issues
Recommendation
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Warmer Temperatures May Offer California Farmers a Rare Silver Lining: Fewer Frosts
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye
Ben Stiller and Christine Taylor Make Rare Red Carpet Appearance With 21-Year-Old Daughter Ella
Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
How inflation expectations affect the economy
In New York’s 16th Congressional District, a Progressive Challenge to the Democratic Establishment Splits Climate Groups
As Deaths Surge, Scientists Study the Link Between Climate Change and Avalanches