Economy
Regulators need to report SVB executives' potential 'outrageous and indefensible' behavior to Congress to avoid mistakes made after the 2008 financial crisis, 2 top Democrats say
10 days ago | By Business Insider
Sen. Elizabeth Warren co-wrote a letter to the DOJ and SEC calling for an investigation of SVB's collapse. Kevin Dietsch/Getty Images
The political and economic fallout over Silicon Valley Bank's abrupt closure and depositor bailout continues.
Sens. Elizabeth Warren and Richard Blumenthal are calling on the SEC and DOJ to look into the collapse.
They want the agencies to probe whether bank executives potentially violated the law.
As the ripple effects of the Silicon Valley Bank collapse and subsequent bailout are still felt across the economy, Senators Elizabeth Warren and Richard...
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A top real estate economist breaks down how the Silicon Valley Bank failure can push more homebuyers into the housing market as mortgage rates fall faster than expected
10 days ago | By Business Insider
Justin Sullivan/Getty Images
A senior economist at NAR said the SVB crisis could lead to higher activity in the housing market.
Mortgage rates could fall faster than expected, and the Fed looks less hawkish, she said.
"The housing sector reacts immediately to changes in mortgage rates. We expect some relief in affordability."
The collapse of Silicon Valley Bank and the ensuing turmoil in the financial sector could spark more activity in the housing market, according to Nadia Evangelou, senior economist and director of research at the National Association of Realtors. The NAR hasn't yet...
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'Big Short' investor Danny Moses says the SVB crisis is speeding up the US economic slowdown
10 days ago | By Business Insider
Danny Moses. RealVision/YouTube
Danny Moses sees trouble ahead for the US economy following the shocking collapse of Silicon Valley Bank.
"It just accelerated that slowdown because banks have to really to pull back in their activities," the "Big Short" investor said.
Moses also called out regulators for bailing out SVB, saying that should make people "nervous."
"The Big Short" investor Danny Moses said Silicon Valley's shocking collapse is worsening the US economic slowdown. "If you believe it's going to slow down, it just accelerated that slowdown because banks have to really to pull back...
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'Big Short' investor Michael Burry calls out ESG funds that bet on Silicon Valley Bank: 'impatient, lazy shortcuts'
10 days ago | By Business Insider
Astrid Stawiarz/Getty Images
Michael Burry tweeted about the collapse of Silicon Valley Bank again.
This time the 'Big Short' investor took aim at ESG fund managers exposed to the fallen bank.
The Scion Asset Management chief suggested the moves were "lazy shortcuts" in a now-deleted tweet.
Michael Burry delivered a critique of ESG fund managers caught up in collapse of Silicon Valley Bank on Twitter Tuesday. "My hope is that the human race will reverse direction, away from impatient, lazy shortcuts always and everywhere," Burry said in a now-deleted tweet on Tuesday, attaching a...
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Elon Musk says there are similarities between the Silicon Valley Bank crisis and the 1929 Wall Street crash
10 days ago | By Business Insider
Elon Musk compared the Silicon Valley Bank crisis to the 1929 Wall Street crash Tuesday. Patrick Pleul/picture alliance via Getty Images
Elon Musk has compared Silicon Valley Bank's collapse to the 1920s Wall Street crash.
"Lot of current year similarities to 1929," he tweeted in response to Ark Invest CIO Cathie Wood.
SVB was one of three banks to collapse last week, fueling fears of a broader crisis.
Elon Musk has warned that there are similarities between the collapse of Silicon Valley Bank last week and the crisis that sparked the 1929 Wall Street crash. "Lot of current year...
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