Wed. May 29th, 2024
Why Are Banks Collapsing In The United States?|silicon valley bank| signature bank|coach Jeff

In this video, we discuss the recent collapse of Silicon Valley Bank and Signature Bank, two prominent banks in the United States. We examine the reasons behind their collapse and how it could potentially affect the American people. Silicon Valley Bank's customer base largely comprised startups and tech-centric companies who needed more cash over the past year, leading to a withdrawal of deposits and a significant loss on the sale of bonds. On the other hand, the collapse of Signature Bank has not been fully explained, but the US federal government has stepped in to guarantee customer deposits. This development has raised concerns about the possibility of the collapse spreading to other banks and the potential impact on the American economy.

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