The Department of Justice is looking into, among other things, SVB executives who sold stock in the weeks before the bank's collapse. SVB is also getting criticism for paying out bonuses as the bank was cratering.
Meanwhile, stock prices for other regional banks like First Republic and Schwab rebounded Tuesday after suffering huge losses over the past few days.
One Bay Area bank CEO said Tuesday was calmer but lots of relationships are still being hammered out. Another tech CEO said she's confident the relationships between venture capitalists, startups and banks will survive.
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Bank regulators seize Silicon Valley Bank in largest bank failure since the Great RecessionThe bank failed after depositors — mostly technology workers and venture capital-backed companies — began withdrawing their money creating a run on the bank.
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Can the Government Contain a Banking Crisis? - The Journal. - WSJ PodcastsWhen Silicon Valley Bank imploded last week, it was the second biggest bank failure in U.S. history. Then, over the weekend, another bank, Signature Bank, was also taken over by the government. WSJ financial editor Charles Forelle explains what kicked off this banking crisis and how the government is scrambling to contain it. Further Reading: - How Silicon Valley Turned on Silicon Valley Bank - Silicon Valley Bank Closed by Regulators, FDIC Takes Control - Were SVB and Signature Bank Just Bailed Out by the U.S. Government?
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WSJ News Exclusive | Justice Department, SEC Investigating Silicon Valley Bank’s CollapseBreaking: The collapse of Silicon Valley Bank is under investigation by the Justice Department and SEC, including stock sales by officers days before the bank failed
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Silicon Valley Bank collapse under investigation by Justice DepartmentThe Department of Justice and the Securities Exchange Commission are reportedly launching investigations into the collapse of Silicon Valley Bank and stock trades made by the bank's officers.
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Silicon Valley Bank collapse under investigation by Justice Department and SEC: reportRegulators are examining stock sales that officers of Silicon Valley Bank’s parent, SVB Financial, made days before the bank failed, according to a report.
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Justice Dept. investigating Silicon Valley Bank collapseBreaking news: The Justice Department has opened an investigation into the collapse of Silicon Valley Bank and the actions of its senior executives, according to a person familiar with the matter who spoke on the condition of anonymity.
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