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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This is bad. For those of you that are going to say “this is a west coast big tech problem” it’s going to be felt nationwide, especially given the remote work environment. 
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How does remote work relate to this?[/quote]

This was not about remote work.  It was about SVB who handed out loans like crazy during the 2020-21 tech boom. Then when tech started falling apart the last year, they took the money out the bank. Combined with bonds falling and rising interest rates, more investors pulled out. The writing was on the wall 2 years ago. Basically; the Freddie/Fannie/Lehman 2007 situation all over again except instead of housing, it was tech startups.  [/quote]

Virtually every word you wrote is wrong.[/quote]

DP. Here is an article that summarizes what happened, I don’t think you have an understanding of events of what happened but PP on largely correct. The trouble at the bank has a very tangential relation to mortgages. You can switch out MBS with treasuries and same story. They got bonds that at super low rates and had to sell at a loss to raise funds because their depositors are pulling out more money and depositing less due to headwinds in the startup space.

https://www.netinterest.co/p/the-demise-of-silicon-valley-bank
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