Chris Whalen: The Fed Is To Blame For The Collapse of Silicon Valley Bank
Manage episode 357664532 series 3300108
Today, Silicon Valley Bank, an institution with over $200 Billion worth of assets, failed. Chris Whalen, chairman of Whalen Global Advisors, returns to Forward Guidance to explain why.
Whalen attributes the collapse in book value of SVB Financial (the entity that owns Silicon Valley Bank) to the Fed’s rapid hikes in interest rates, which severely depressed the market value of the bank’s holdings. Whalen argues that, unless the Federal Reserve cuts rates and opens the discount window, the U.S. is at risk of a banking crisis.
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