One of the deep-pocketed venture capitalists told The Post that Treasury Secretary Janet Yellen’s statement Sunday throwing cold water on the possibility of a bailout was “pathetic.R…
Some donors are claiming there is a lack of communication between the administration and Silicon Valley.“We’re calling on the government not to politicize this,” the source said. “The concern is this turns into a ‘stick it to the tech jerks’ narrative in DC.is essential to maintaining a strong financial system.Donors are concerned the Biden administration isn’t doing much to help the bank’s collapse.
“The events that unfolded over the past 48 hours have been deeply disappointing and concerning. In the event that SVB were to be purchased and appropriately capitalized, we would be strongly supportive and encourage our portfolio companies to resume their banking relationship with them,” the letter says.
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After SVB, Yellen must act to prevent run on banking system, Democrat saysRepresentative Josh Gottheimer asked the treasury secretary to 'take immediate steps using all necessary regulatory tools.'
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‘It’s a Big F - - - - - - Mess’: How SVB’s Collapse Is Creating ChaosSilicon Valley Bank is, or was, the 16th largest bank in the country, and now no longer exists. Lots of regular people are already being hurt. jwherrman reports
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SVB shut down sends shockwaves through Silicon ValleyThe sudden collapse of Silicon Valley Bank on Friday sent shockwaves through the startup community, which has come to view the lender as a source of reliable capital, particularly for some of tech’s biggest moonshots.
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SVB fails, marking second-biggest bank collapse in US history'This is an extinction-level event for startups' US seizes assets of Silicon Valley Bank as its sudden collapse roils global markets and strands billions of dollars belonging to companies and investors
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Yellen says US banking system 'remains resilient' in wake of SVB collapseSilicon Valley Bank collapsed late Friday morning after a run on the bank, roiling global financial markets amid fears of a possible liquidity crisis.
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How the SVB collapse explains the economy
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