The latest on the Silicon Valley Bank collapse | Follow live updates
From CNN's Matt Eganpointing the finger at SVB CEO Greg BeckerOne Silicon Valley Bank employee, who requested anonymity to speak candidly, was dumbfounded by how Becker publicly acknowledged the extent of the bank’s financial troubles before privately lining up the necessary financial support to ride out the storm.“That was absolutely idiotic,” the employee, who works on the asset management side of Silicon Valley Bank, told CNN in an interview. “They were being very transparent.
By the close of business that day, Silicon Valley Bank had a negative cash balance of about $958 million.
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