As interest rates rose, SVB’s treasury bonds became less attractive to investors, which caused them to drop in value. Meanwhile, as inflation hit record highs, the bank’s technology startup clients began tapping into their deposits. To meet its capital needs, SVB began selling investments, ...
If the banking establishment, including the US Treasury and Federal Reserve, could engineer a housing bubble that sucked massive amounts of capital out of the country, and in so doing dictate to CalPERS that the largest pension fund in the country continue to buy billions of mortgage-backed se...