Elon Musk says there are similarities between the Silicon Valley Bank crisis and the 1929 Wall Street crash
In late October 1929, theMusk's warning clashes with most of Wall Street's top names, who've said that SVB's collapse won't trigger a similar stock market rout to the financial crisis of 2008 – let alone the great crash of 1929.
letter to the firm's clients"In other words, they don't threaten the whole system and should not lead to endless contagion, as long as we remain calm, acknowledge the problems are very serious and capable of spiraling out of control, and deal proactively and aggressively in a smart, immediate and targeted manner," he added.
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