If you’ve been following the news at all, you probably know that there was a catastrophic issue with the banking system in the United States in early 2023. A bank known as Silicon Valley Bank, or SVB, went under some major problems and then got so much worse. It is the kind of banking disaster that hasn’t been seen in American history for quite a long time. The sort of issue that will definitely become history at some point in the future. So what happened exactly?

SVB offloaded a significant amount of its assets which led to a full-scale panic. The kind of panic that you don’t usually see unless a place with warm climate receives a small amount of snow. Billions of dollars were pulled out of the bank leading to a huge spiral. While the bank itself tried to right this problem, the damage had already been done. The government stepped in and shuttered the bank altogether.

This led to a period of even greater panic for the poor businesses that had invested with the bank. For several days after SVB’s collapse, all seemed lost. Then the federal government stepped in once again and made sure that everyone would get their pay.

After all the smoke cleared, what everyone was asking was “what happened and what happens next?” These questions are still up in the air. Right now, we just need to look at the CEO of this bank and see what can be done to avoid the mistakes he made that led to this enormous crisis.

So what all happened in the SVB collapse? Only one way to find out right now!

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VIDEO DESCRIPTION GOES HERE

Written by: Jordan Phillips
Narrated by: Grant Kellett
Edited by: Adriano Canella


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CHAPTERS:
Intro
What is Silicon Valley Bank?
The 48-Hour Collapse
Other Factors
Panic
Political Response
The Future
Management Failures
CEO Gregory Becker
Outro