SVB Collapse: Warren Buffett Enters the Stage

Published by
The Street

By Luc Olinga The legendary investor is reportedly in contact with the White House over the crisis of confidence rocking banks, since the sudden collapse of Silicon Valley Bank. The sudden collapse of Silicon Valley Bank on Mar. 10 caused the most serious crisis of confidence in banks since the Great Financial Crisis of 2008, which devastated the global economy and threatened to bring the financial system to its knees. The Californian bank had bet on interest rates, by investing in high quality bonds. The problem was that SVB (SIVB) – Get Free Report bought these bonds and mortgage-backed secu…

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