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Panic: The $210 Billion Crash of Silicon Valley Bank
On 9 March 2023, panicked customers withdrew $42 billion in a single day from California's Silicon Valley Bank. Another $100 billion was due to be withdrawn next day. The bank's CEO Greg Becker asked customers 'not to panic' and recorded a video message for his staff asking them to 'just hang around and try to support each other.'
In the midst of a classic bank run, the U.S. government seized the $210 billion bank, making it the second largest bank failure in U.S. history. Three days later, Greg Becker fled to his vacation home in Maui, Hawaii.
How did the 16th largest bank in the U.S., dedicated to serving the needs of the technology industry for 40 years, crash and burn in two days?
In this short book, PAUL KILDUFF, a Bank of America and Citibank banker and financial thriller author, charts the rise and fall of Silicon Valley Bank and its CEO Greg Becker, and reveals what went wrong and the lessons learned in this most spectacular financial failure.
'KILDUFF WRITES WITH AUTHORITY ... HE SPINS A COMPELLING TALE' - IRISH TIMES
'AN ENTERTAINING DEBUT WITH AN ALL-TOO-BELIEVEABLE ENDING' - SUNDAY TELEGRAPH ON SQUARE MILE
'A CLEVERLY CRAFTED AND GRIPPING FINANCIAL THRILLER' - DAILY MAIL ON THE DEALER
'A WORLD CLASS PAGE-TURNER' - IRISH INDEPENDENT ON THE FRONTRUNNER
In the midst of a classic bank run, the U.S. government seized the $210 billion bank, making it the second largest bank failure in U.S. history. Three days later, Greg Becker fled to his vacation home in Maui, Hawaii.
How did the 16th largest bank in the U.S., dedicated to serving the needs of the technology industry for 40 years, crash and burn in two days?
In this short book, PAUL KILDUFF, a Bank of America and Citibank banker and financial thriller author, charts the rise and fall of Silicon Valley Bank and its CEO Greg Becker, and reveals what went wrong and the lessons learned in this most spectacular financial failure.
'KILDUFF WRITES WITH AUTHORITY ... HE SPINS A COMPELLING TALE' - IRISH TIMES
'AN ENTERTAINING DEBUT WITH AN ALL-TOO-BELIEVEABLE ENDING' - SUNDAY TELEGRAPH ON SQUARE MILE
'A CLEVERLY CRAFTED AND GRIPPING FINANCIAL THRILLER' - DAILY MAIL ON THE DEALER
'A WORLD CLASS PAGE-TURNER' - IRISH INDEPENDENT ON THE FRONTRUNNER
41 pages, Kindle Edition
Published November 4, 2024
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