TWO U.S. BANKS JUST FAILED – WHAT HAPPENED, AND WHAT NOW?

Just a quick comment about Silicone Valley Bank collapse.

What is finally to eventuate is yet to be seen, but I smell a very ‘big rat’ behind what’s happening. Here is a link to some of the more key pertinent details about the bank.
https://www.marketscreener.com/quote/stock/SVB-FINANCIAL-GROUP-10840/company/

Note that amongst the MAJOR SHAREHOLDERS are the big boys, once again, The Vanguard Group, JP Morgan and Blackrock etc.

What to my mind is highly suspicious, is the fact that Gregory Becker (age 54), President, CEO and Director of the SVB Financial Group, is at the same time filling a dual role, also a Director of the Board of the Federal Reserve Bank of San Francisco (one of the Fed’s 12 regional branches). He has worked for the SVB Financial Group in an executive position since 2011 (about 12 years), so I find it impossible to believe they, and the US Federal Reserve, through its San Francisco branch, didn’t know this was going to happen well in advance. There is much more to this than first meets the eye!

SVB currently has 8,553 employees alone, and we will just have to wait and see what secondary jitters and impact it is going to have on other businesses and markets.

TWO US BANKS JUST FAILED – WHAT HAPPENED, AND WHAT NOW?