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Silicon Valley Bank shoots self in foot



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It may go down in the history books about Silicon Valley: the time that its most prominent bank, a bank founded nearly 40 years earlier, inflicted such grievous injury on itself that it had to be rescued by another bank or else risk going down in flames in a single day.
We don’t yet know who that “white knight” will be, but you can bet a lot of conversations are happening right now about who will step in and acquire Silicon Valley Bank, an institution whose shares are down roughly more than 80% in after-hours trading from where they were at the beginning of yesterday. An …

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