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First Republic leads a comeback for bank stocks that cratered in the SVB-fueled selloff

Tue, 03/14/2023 - 08:02

First Republic Bank — First Republic led bank stocks' comeback Tuesday as investors started to look past the SVB crisis.
Michael Brochstein/SOPA Images/LightRocket via Getty Images

Markets, MI Exclusive, Stocks, First Republic, Western Alliance Bancorp, SVB, SVB collapse

Warren Buffett has likely seen $8 billion wiped off the value of his financial stocks in 3 days, as SVB's collapse rattles the banking sector

Tue, 03/14/2023 - 07:35

Warren Buffett — Warren Buffett.
Paul Morigi/Getty Images for Fortune/Time Inc

Markets, MI Exclusive, Stocks, Warren Buffett, Berkshire Hathaway, Banking, Bank stocks

Citadel boss Ken Griffin thinks SVB's rescue package shows US capitalism 'breaking down before our eyes'

Tue, 03/14/2023 - 07:19

FILE PHOTO: Ken Griffin, Founder and CEO, Citadel, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, California, U.S., April 30, 2019. REUTERS/Mike Blake — Ken Griffin, Founder and CEO, Citadel, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, California
Reuters

Markets, MI Exclusive, Ken Griffin, Citadel, Capitalism, US Economy and Markets, SVB

SVB-rattled banks First Republic and Western Alliance go on downgrade watch at Moody's

Tue, 03/14/2023 - 06:43

first republic bank — Moody's put First Republic's bonds on downgrade watch Monday.
Justin Sullivan/Getty Images

Markets, MI Exclusive, Bonds, SVB, SVB collapse, Silicon Valley Bank, Silicon Valley Bank collapse

The Fed's been aggressively hiking rates over the past year. The banking crisis could force them to halt the hikes — or even cut them, analysts say.

Tue, 03/14/2023 - 06:17

Tech Insider : Economy

Federal Reserve Chair Jerome Powell — The Fed's been aggressively hiking rates over the past year. The banking crisis could force them to halt the hikes — or even cut them, analysts say.
Kevin Dietsch/Getty Images

News, economy, Federal Reserve, Interest Rates, Monetary Policy, SVB, Silicon Valley Bank collapse

Billionaire Charles Schwab's wealth plunged nearly $3 billion after his brokerage's shares were hammered amid the banking crisis

Tue, 03/14/2023 - 00:37

Charles Schwab, the founder and chairman of Charles Schwab. — Billionaire Charles Schwab lost nearly $3 billion after shares of the brokerage he founded were hammered amid the banking crisis.
REUTERS/Jim Young

News, finance, Tech News, Charles Schwab, Shares, Silicon Valley Bank, SVB

SVB is the first social media bank run in history. The crisis will change the banking industry forever.

Mon, 03/13/2023 - 23:01

A Brinks armored truck sits parked in front of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. — A Brinks armored truck sits parked in front of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California.
Getty Images

Tech Insider, finance, Social Media, Silicon Valley Bank, twitter, SVB, VCs

Elizabeth Warren says the millions in bonuses Silicon Valley Bank executives took home last year should be recovered by regulators: 'We should claw all that back'

Mon, 03/13/2023 - 21:44

Elizabeth Warren — The report found that banks are not repaying the vast majority of cases where customers were tricked into making fraudulent transactions over Zelle.
Charles Krupa/Associated Press

finance, Tech News, News, Elizabeth Warren, Senator Warren, Senator Elizabeth Warren, Senator

SVB's collapse could make it harder for climate startups to get the funding they need

Mon, 03/13/2023 - 17:17

Tech Insider : Climate Crisis

Startup founders scrambled to get their funds out of Silicon Valley Bank after its collapse. — Startup founders scrambled to get their funds out of Silicon Valley Bank.
Justin Sullivan/Getty Images

Startups, finance, Sustainability, Silicon Valley Bank, Silicon Valley Bank collapse, SVB, climate crisis

The Fed says it will investigate its oversight of Silicon Valley Bank following the biggest bank failure since 2008

Mon, 03/13/2023 - 16:59

jerome powell — Federal Reserve Chairman Jerome Powell.
Alex Wong/Getty

Markets, MI Exclusive, Jerome Powell, Silicon Valley Bank, SVB, Investigation, Federal Reserve

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