The failure of Silicon Valley Bank on Friday could lead wealthy individuals and businesses to pull their money out of other regional and mid-sized banks across the country.
could spark a run on other regional and mid-sized banks across the country, as wealthy individuals rush to pull their money out of accounts too large for FDIC coverage and flee to larger, more stable institutions amid fears the risk could be systemic, sources told The Post.put their money in JPMorganIf a buyer steps in this weekend to scoop up SVB, which catered to start-ups in tech and other industries, it could avert a disaster.
There’s simply too much uncertainty and risk associated with a deal unless the Feds step in, people with knowledge of buyers’ thinking told The Post. “No one wants to do the deal without a government backstop,” a private equity insider echoed. “The government needs to prepackage a deal, like they did with Lehman.”
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