On Friday, Silicon Valley Bank rocked the financial industry with its sudden collapse, marking the second-largest banking failure in U.S. history.
Economic Collapse: Depositors Conduct RUN On Silicon Valley Bank—2008 All Over Again?
With SVB’s collapse, many Americans wonder if we’re on the verge of a 2008-style financial crisis.
In a way, 2008 has already repeated itself.
By that, I’m referring to the players involved in the collapsed financial institutions.
The Lehman Brothers’ bankruptcy filing was a focal point of the 2008 crisis.
Should it surprise anyone that a former Lehman Brothers executive worked for Silicon Valley Bank at the time of its collapse?
SVB executive Joseph Gentile was previously the Chief Financial Officer (CFO) of Lehman Brothers’ Global Investment Bank prior to its 2008 collapse.
Lessons never learned Silicon Valley Bank exec was Lehman…