Silicon Valley Bank MELTDOWN Explained

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On Today’s Episode:
Here’s how the second-biggest bank collapse in U.S. history happened in just 48 hours. Silicon Valley Bank closed its doors today. Within 48 hours, a panic induced by the very venture capital community that SVB had served and nurtured ended the bank’s 40-year run.

Regulators shuttered SVB Friday and seized its deposits in the largest U.S. banking failure since the 2008 financial crisis and the second-largest ever. The company’s downward spiral began late Wednesday when it surprised investors with news that it needed to raise $2.25 billion to shore up its balance sheet. What followed was the rapid collapse of a highly-respected bank that had grown alongside its technology clients.
You are not alone if the recession has you nervous about what to expect. People have real concerns about whether or not they’ll be able to afford groceries, gas, and even rent!

For sure you’ve heard that millionaires are made in recessions, but how?

Jaspreet Singh is joining Tom for a second time to get you up to speed on what it takes to get wealthy during any recession. Jaspreet is the Minority Mindset guru and Chief Money Nerd at Minority Mindset Companies. He’s been creating financial education videos on YouTube for years and is breaking down all the reasons you don’t have to be scared during a recession