SPECIAL REPORT: Silicon Valley Bank - How Worried Should We Be? | Joseph Wang, Former Fed Insider

The financial world has been rocked over the past few days as Silicon Valley Bank, the nation's 16th largest bank which had $209 billion in assets and $175 billion in deposits as of December, failed with little warning.

This is the 2nd largest bank failure in US history.

Shockwaves from this very fluid situation are still in process of rippling through the Tech ecosystem as many VC-funded start-ups exclusively did their banking there.

And depositors around the country though are suddenly wondering how safe their own banks are.

To bring us up to speed on the latest developments & discuss what's most likely to happen from here, former Federal Reserve insider Joseph Wang, who publishes about the inner workings of the monetary and banking systems, has kindly agreed to sit down with me here on a Sunday for this special recording.
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#bank #siliconvalleybank #bankrun
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[RRags]

I love this guest. He is awesome. Straight forward. Honest and clear.

[johntakacs]

Great interview, Joseph is super smart, speaks so calmly, I hope you have him on regularly.

[markburnham]

This timely and informative video is an example of why Wealthion has already passed a quarter of a million subscribers and shows no signs of slowing down. Thanks Adam, you are providing a much needed (and much appreciated) service.

[williammiller]

Adam and Joseph, and those behind the scenes. Thank you so much for doing this and working on a Sunday. You guys are amazing, and in today's crazy internet click bait times, it's nice to be able to know we can come to Wealthion, and get the correct information.

[merlinbass]

Outstanding Adam. Thanks to you and Joseph Wang. Orders of magnitude better explanation than elsewhere.

[petopotamus]

This is a great interview. Love Adams humility in that he doesn’t mind showing his lack of knowledge. He is asking great questions and repeating back his understanding for us all to learn from this. Joseph’s knowledge, earnestness and willingness to calmly explain using simple language and examples is amazing. I’ve learned more in this interview about how the “money markets” work than I have in hundreds of hours of reading/viewing various financial articles, textbooks and other media.

[swr]

Best interview I’ve heard so far. The professionalism and expertise of Joseph was amazing and very calming! Would love to hear more from him in the future.

[joefanta]

Thank you Adam for inviting Joseph! His knowledge is awesome.

[Willfully_Ignorant]

Well based on the fact that the CEO has of SBV cased out millions in personal stock days before this happened I would say they did know this was going to happen. The real question is will he or she go to prison for insider trading.

[bruceg]

Great Interview. Joesph Wang has the ability to make rather esoteric banking concepts easy to understand.

[dianaashton]

Mr Wang is incredible, so concise and explains complicated issue succinctly. I really understand what happened.

[methods]

“I am not worried about any other bank at all.” Couple of hours later Signature Bank goes down!

[lot]

Biden just said he's never seen America as strong as it is now. So yes. I'd be worried as hell.

[longbeachboy]

24:00 'Systemic risk is minimal'. That was funny :)

[fit.avinash]

How in the world was SVB rated as one of the best managed Banks until last year? Is this because of corruption in the rating agencies?

[smgillen]

This was a great guest to have on for this topic. Calm and level and objective in tone. No hyperbole (MARKETS TO CRASH ON MONDAY! BUY GOLD NOW!!). Knowledgeable about the industry from both the operational and regulatory perspectives. Kudos!

[donvu]

Wow...Banks are taking so much advantage of the people. They use our loans as leverage to create loans and generate 5-6% on them, they get a 5-6% return on fed reserves, and they don't pay us anything for interest on our deposits. If there was any time to push back it would be now. I'm personally telling my bank to pay me a proper interest rate on my cash or I'm pulling it to park it somewhere else that will.

[gsmith]

Thanks for taking time out of your weekend Adam to do this interview. Joseph is fantastic and I hope you have him back more often, he’s one of your best interviews!

[lisalove]

Adam Loved your rant and how your adept questioning pointed out Banks have been benefiting from that 5% while the working/middle class Americans who do not have the luxury of $20, 000 checking accounts have been getting shafted. Nothing against Joseph, I do much appreciate his deep knowledge and calm manner.

[mulatto]

Well, this didn't age well. Signature Bank collapsed an hour after it was published.