Audit giant KPMG is standing by its audits of Silicon Valley Bank (SVB) and Signature Bank, which collapsed when customers rushed to withdraw their savings in panic-fueled bank runs. The two banks failed not long after their respective annual reports were certified by KPMG, one of the so-called “Big Four” accounting firms, a list that…
Top Audit Firm Defends Giving Clean Bill of Health to SVB, Signature Bank Weeks Before Failure
Impact of Silicon Valley Bank’s Fall on Startup Community
March 14, 2023
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Silicon Valley Bank (SVB) was the go-to bank for many startups for years. How has its fall affected the startup community? We talk to startups that have been impacted by SVB’s fall to get their stories. One firm we spoke to moved over $600,000 out of SVB during the bank run. Alison Greenberg, CEO of…
Capitol Report: Oversight Committee Granted Access to Biden Family Bank Records; Biden’s New Gun Control Measures
More transparency could soon be coming regarding the Biden family’s dealings with a Chinese energy company. The Treasury is allowing the GOP to review suspicious activity reports. Various government agencies are now investigating what caused the collapse of Silicon Valley Bank, America’s second-largest bank crash. A former FBI agent joins us to explore the politicization of…
SVB Crash Will Slam California State and Local Budgets
March 14, 2023
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Commentary We’re still early in the Silicon Valley Bank crisis. But one thing it will hurt is California’s state and local budgets. And not just in the short term, but the long term. Banking crises come and go. But what’s different this time is what was advanced by Shark Tank judge Kevin O’Leary and in…
Silicon Valley Bank Customers Stand in Line for Hours at Santa Clara Location
March 14, 2023
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SANTA CLARA, Calif.—Silicon Valley Bank (SVB) customers lined up for hours in front of the bank’s HQ location in Santa Clara on March 13 to access their funds. Depositors rushed to the bank after the Federal Deposit Insurance Corporation (FDIC) stated in a press release that all assets—both insured and uninsured—would be available for transfer…
LIVE 5 PM ET: NTD Business (March 14): Meta to Lay Off 10K More Workers; DOJ, SEC Investigating SVB Financial Group: Report
U.S. agencies are reportedly investigating the collapse of Silicon Valley Bank—including stock sales days before the bank failed. We take a deep dive on how the bank’s fall is affecting the startup community. Meta plans another enormous round of layoffs. How many jobs did it cut this time? Inflation slowed down slightly last month after…
LIVE 5 PM ET: NTD Business (March 14): Meta to Lay Off 10,000 More Workers; DOJ, SEC Investigating SVB Financial Group: Report
U.S. agencies are reportedly investigating the collapse of Silicon Valley Bank—including stock sales days before the bank failed. We take a deep dive on how the bank’s fall is affecting the startup community. Meta plans another enormous round of layoffs. How many jobs did it cut this time? Inflation slowed down slightly last month after…
NTD Business (March 14): DOJ, SEC Investigating SVB Financial Group: Report; Meta to Lay Off 10,000 More Workers
U.S. agencies are reportedly investigating the collapse of Silicon Valley Bank—including stock sales days before the bank failed. We take a deep dive on how the bank’s fall is affecting the startup community. Meta plans another enormous round of layoffs. How many jobs did it cut this time? Inflation slowed down slightly last month after…
Behind the Banking Crisis That Shook the Financial System
For the first time since the financial crisis of 2008–09, confidence in the U.S. banking system has eroded as three major banks shuttered in one week: Silvergate, Silicon Valley Bank (SVB), and Signature Bank. As experts brace for the next domino to fall in the unfolding turmoil, the federal government and the Federal Reserve are…
Canada’s Bank Regulator to Begin Daily Liquidity Checks with Banks Following SVB Collapse: Report
Canada’s banking regulator is taking steps toward carrying out daily check-ins with banks in the country to monitor their liquidity following the collapse of the American-based Silicon Valley Bank (SVB), according to media reports. The move by the Office of the Superintendent of Financial Institutions (OSFI) to more closely monitor the financial health of domestic banks…
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