Matt Higgins on Silicon Valley Bank: “This is a potential extinction level event. This is going to make FTX look like child’s play.”

This is a potential extinction level event for many incredible companies. FTX was very painful but the economic consequences did not cascade throughout the broader economy.

This is different.

Boards are meeting through the wknd to determine how to make payroll. https://t.co/wamCWxhqy1

— Matt Higgins (@mhiggins) March 11, 2023

"This is going to make FTX look like child's play," says @mhiggins on the collapse of $SIVB. pic.twitter.com/yBU5ayeR75

— CNBC Sport (@CNBCSport) March 11, 2023

So your telling me that @FTX_Official was a bohemian orgy?? pic.twitter.com/6HWPPLtYnn

— Gabriel M Haines (@gabrielhaines) November 11, 2022

Rep. Eric Swalwell: “Silicon Valley Bank crisis: We must make sure all deposits exceeding the FDIC $250k limit are honored.”

I’m working with my CA colleagues to address the Silicon Valley Bank crisis. We must make sure all deposits exceeding the FDIC $250k limit are honored. Banking is about confidence. If depositors lose confidence on the safety of their deposits over 250k then we are in trouble.

— Rep. Eric Swalwell (@RepSwalwell) March 10, 2023

h/t dr0id