March 29, 2024

AndronETalksNews

AndronETalksNews

“Expect Mass Layoffs…” – The Real-World Impact Of SVB’s Failure

Isometric group of businessmen carrying piles of documents in cardboard boxes left the office, unemployment, dismissal, career crisis, economic crisis leading to massive layoffs

Zero Hedge

By Tyler Durden – March 10, 2023

For most people in America, the news that a ‘bank in Silicon Valley’ has failed will be forgotten quicker than a story about soaring shoplifting in their local supermarket.

It shouldn’t.

Reality is that the contagion of the shuttering of the 18th largest bank in the US are widespread.

SVB is in fact the second largest (by assets) bank failure in US history after WaMu.

Read more…