As you have likely heard, the Silicon Valley Bank collapsed on Friday, March 10th, 2023, after a bank run- marking the largest bank failure in the U.S. in over a decade. With a lot of fear surrounding this topic, we are here to focus on the facts and give you a better understanding of what we know today.
In this episode, we will unpeel the layers of the SVB bank run crisis and dive into the details of why this event occurred. We will also discuss important points to consider before panicking about this incident and share helpful tips on how to evaluate news you hear in the media moving forward.
Here’s some of what we discuss in this episode:
- What we know about the Silicon Valley bank failure right now [2:57]
- Unpacking why this SVB crisis happened and what sparked the bank run panic. [11:05]
- The five keys points you want to keep in mind before panicking about this event. [17:48]
- While there is a lot of fear and panic instilled by the media right now, it is rare to go a year without a new bank failure. [20:30]
- Two important questions to help you evaluate what you hear in the media [22:17]
Listen to more of our conversation in the podcast or reach out to us to talk about your financial situation and goals.
Read Mike Sorrentino’s breakdown of the SVB collapse.
Watch Mike Sorrentino’s webinar by clicking here.