Toni Krvarich explains the collapse of Silicon Valley Bank

SAN DIEGO (CUSI) — The United States government will not bail out a bankrupt Silicon Valley bank, at least that’s what they’re saying right now.

It became known that the bank of Silicon Valley paid bonuses to employees just a few hours before the financial collapse.

On CBS’ Face The Nation, Treasury Secretary Janet Yellen rejected the idea of ​​a government bailout of the country’s 16th largest bank. This is what was done for hundreds of institutions during the 2008 financial crisis.

Customers are expected to leave the Silicon Valley bank on Monday, when cash covered by the federal deposit insurance company should be available. Depositors could now get as little as 30 percent of their money.

The collapse of the bank is being felt throughout the financial industry as investors brace for the aftermath of the incident.

Krvaric Capital CEO Tony Krvaric spoke about the situation at KUSI News.

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