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SHOW NOTES: As the executives of Silicon Valley Bank privately rushed to give themselves their annual bonuses and sell their stock in the company, the general public had NO IDEA the bank was about to crash.
It's one of the largest single banks to crash in American history. And in some ways Silicon Valley Bank not only knew it was going to happen, they helped cause it by alerting their biggest investors, who in turn told of their friends to take all of their money out of the bank as soon as they could - which caused it to literally collapse overnight.
Now, the same people that refuse to bail out Americans that need student loan debt relief or universal healthcare are saying the federal government should bail out this bank.
HELL NO!
Let me unpack and explain it.
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Love and appreciate you all.
Shaun
ABOUT THE AUTHOR: Shaun King is one of the most followed and shared activists and journalists in the world. In addition to being the Founder and Editor in Chief of The North Star, he also leads the Grassroots Law Project and the Real Justice PAC. A historian by training, Shaun King is the New York Times bestselling author of Make Change: How to Fight Injustice, Dismantle Systemic Oppression, and Own Our Future. His upcoming book, a memoir called Lemons and Stones, is on sale now! Shaun’s daily news podcast, The Breakdown with Shaun King, has been heard and shared hundreds of millions of times in almost every country in the world and is available on Apple Podcasts, Spotify, and everywhere podcasts are heard. Shaun has been with his brilliant wife, Rai, for nearly 25 years, and they are raising their 5 kids in Brooklyn, New York.
Nah, Silicon Valley Bank SHOULD NOT Be Bailed Out. Hell no! LISTEN NOW to Episode #769 of The Breakdown with Shaun King