March8: Silicon Valley Bank's demise began with downgrade threat

[High Spy]

https://www.reuters.com/markets/us/sili ... 023-03-11/

Here is a timeline of major events related to the bank’s collapse and its aftermath.

MARCH 8
Silvergate Capital, a cryptocurrency-focused bank, announced it would cease operations and liquidate its assets after a bank run forced the California lender to sell a chunk of its debt securities.

Silicon Valley Bank concerned investors when it said it needed to shore up its balance sheet and raise $2 billion in capital. It was forced to sell a bond portfolio at a $1.8 billion loss.

In a letter to customers, Greg Becker, the chief executive of Silicon Valley Bank, said the bank enjoyed the “financial position to weather sustained market pressures,” but he noted that customer deposits had come in lower than forecast in February. Moody’s, a credit ratings firm, downgraded the bank’s bond rating and slashed its outlook to negative, from stable.

Me current FF post rate is 2.01

so shall delay posting this strange news report

until such time as I may again put forth my two cents.

[BeNotDeceived]

Re: March 8 near-catastrophic Financial event
https://ldsfreedomforum.com/viewtopic.p ... 0#p1369620

Re: March8: Silicon Valley Bank's demise began with downgrade threat
viewtopic.php?p=1429#p1429

https://www.reuters.com/markets/us/sili ... 023-03-11/

Here is a timeline of major events related to the bank’s collapse and its aftermath.

MARCH 8
Silvergate Capital, a cryptocurrency-focused bank, announced it would cease operations and liquidate its assets after a bank run forced the California lender to sell a chunk of its debt securities.

Silicon Valley Bank concerned investors when it said it needed to shore up its balance sheet and raise $2 billion in capital. It was forced to sell a bond portfolio at a $1.8 billion loss.

In a letter to customers, Greg Becker, the chief executive of Silicon Valley Bank, said the bank enjoyed the “financial position to weather sustained market pressures,” but he noted that customer deposits had come in lower than forecast in February. Moody’s, a credit ratings firm, downgraded the bank’s bond rating and slashed its outlook to negative, from stable.

Me current FF post rate is 2.01

so shall delay posting this strange news report

until such time as I may again put forth my two cents.

Maximum font size allowed has now shrunk to 133.

Roto Rooters, but not fence road journal or Rueter’s headline.

Y’all demand a sign, despite Korihor’s clear tale of catastrophe.

Emphasis added.