Billionaire investor Bill Ackman wrote a lengthy analysis of the Silicon Valley Bank failure on Saturday, arguing that the U.S. government needs to protect all of the bank’s depositors.
The financial expert says that the government needs to take action by Monday to avoid an economic meltdown.
The collapse of Silicon Valley Bank on Friday marks the worst U.S. financial institution failure since the Great Recession. SVB, which was the 16th largest bank in the U.S., had $209 billion in total assets at the end of 2022.
Source : Billionaire Bill Ackman Calls for Urgent Government Action on Silicon Valley Bank Failure