"Biggest Bank Failure In U.S. History – 'We Found Our Enron' – 'On The Verge Of A Much Bigger Collapse Than 2008'” (Excerpt)

"Biggest Bank Failure In U.S. History – 'We Found Our Enron' – 

'On The Verge Of A Much Bigger Collapse Than 2008'”

by Michael Snyder

Excerpt: "The wait for the next “Lehman Brothers moment” is over. On Friday, we witnessed the second biggest bank failure in U.S. history. The stunning collapse of Silicon Valley Bank is shaking the financial world to the core. As of the end of last year, the bank had 175 billion dollars in deposits, and approximately 151 billion dollars of those deposits were uninsured. In other words, a lot of wealthy individuals and large companies are in danger of being wiped out. In particular, this is being described as an “extinction level event” for tech startups, because thousands of them did their banking with SVB. I cannot even begin to describe how cataclysmic this is going to be for the tech industry as a whole. There is so much to cover, and so let me try to take this one step at a time."

Full article is here:

- http://theeconomiccollapseblog.com/

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"Silicon Valley Bank Collapses in 

Largest Failure Since 2008 Crisis"