in the United States is a “tragedy”, said analyst James Morton on Monday , three days after regulators pulled the plug on the lender.
US regulators on Friday seized SVB’s assets after a run on deposits made it no longer tenable for the medium-sized bank to stay afloat on its own. Being heavily concentrated within one sector in the economy, especially one that was always going to be open to economic shocks, made the bank very vulnerable to what ultimately happened, he noted.
These include the ongoing problems the startup tech sector is facing, such as a slowing economy, valuations declining and increased difficulty in getting enterprise level sales, he said.
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