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Big Tech wins unfair advantage over American workers in SVB scandal

Por: New York Post Opinion March 14, 2023

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It’s true that Silicon Valley Bank didn’t get a bailout. But Silicon Valley itself absolutely did. Here’s what happened. Silicon Valley Bank is a bank for a bunch of Silicon Valley tech companies. It invested deposits in that go down in value when interest rates go up. When the Federal Reserve raised interest rates, SVB ran into trouble. Another problem? It had a concentrated base of depositors — tech companies — whose needs for... + full article



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