The Fed Admits It Played a Role in SVB Crisis
In a highly anticipated report on the collapse of Silicon Valley Bank, the Federal Reserve admits that it should’ve been paying slightly closer attention to the tech-centric bank before it unceremoniously collapsed last month. At the same time, the Fed’s report also reveals what everybody already could’ve guessed: SVB was a poorly run bank.Robinhood App Lays Off 9% of StaffLong a headquarters for the money of tech startups and venture capital, SVB collapsed in March as the result of a number of screwy financial decisions…