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by pclmulqdq
1204 days ago
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What's bizarre is that this is a particularly big bank to be going under. Most of the ones that die are tiny because banks have a real economy of scale here. Lehman and Washington Mutual were truly exceptional cases in the 2008 crisis, and SVB may be right there with them in a few weeks. |
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[1] which technically didn't fail but had its retail banking operations forcibly absorbed by Citigroup in an overnight shotgun wedding officiated by the FDIC, but hey who's counting