SVB has imploded. No value, shareholders lost it all. But who is or what was SVB before the darkness closed in? In February 2023, Forbes listed the bank as #20 of “America’s Best Banks” with a 13.8% return on equity. In March 2023, Moody’s Investors Service rated the bank’s loan portfolio as conservative and high-performing. The bank’s overseas subsidiaries held $13.9 billion in deposits. With a snap of a finger and a flick of an eye, and a Hi-O Silver, the bank turned into dust.

This proves that in America, anything can happen. Once the FEDs say move on in, they do with a vengeance. Problem with the bank was two fold. One, the bank held long term treasure bill, which cratered because of the rise in interest rates. They actually did the right thing, not speculating, but failed to match short term loans with like kind of short term treasury bills. And two, they failed on the publicity front which led to the Run on the Bank. Now, America is wondering if any bank is safe. In 1929 none were.