I suspect you're hearing some hyperbolic numbers here. Lockheed Martin only has ~$50B in assets, and they're not exactly a "small startup."
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Christ, I've been saying Billion, it's million not billion. Sorry for the accidental hyperbole.
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Ha! OK. That makes far more sense. :-)
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Yeah and that's honestly way worse. That means way more companies are going to get fucked.
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That makes a little more sense. Not sure it changes the level of horrible.
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That is some really interesting data on that chart. I wish I could find that somewhere where I can see it.
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Apparently my work banks with them as well. That's...less than ideal.

Not sure the extent to which we have funds there, but they're at least in the portfolio.
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Actually, as I dig around a bit, I think they're mostly an investor rather than our "bank." So we're in the assets column rather than the deposits column. Still, could get interesting to see how that plays out.
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How many other banks are in the same death spiral? SVB weren't the only ones parking their assets in long term bonds.
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Why don’t you open a cash management account with Fidelity? They layer your deposits across multiple institutions and its FDIC insured up to $3mm. And the rate (4.22%) is probably higher than your banks.
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Jesus dude.

Go back and edit all your posts now! :-)
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Probably not too many. SVB balance sheet was made up of a high a percentage of long term, low yield assets.
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I just bought 10 shares of QYLD because of all this mayhem. Must save myself!
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I’m setting up a similar deal with a different outfit, but I haven’t finished it yet. I’ll definitely look into Fidelity though, thanks.
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Makes you wonder if you should have all assets over $250k separated into different accounts/institutions to protect from something like this. I've always been told no, it's not needed, however..............
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