and titans many charged with being woke, but the fact of the matter was, it was a bank that made the wrong bet on treasuries at the wrong time and bought tens of billions of those, the price of treasuries went down and flat-footed while people wanted their money. now it s in receivership and run by the federal deposit insurance corporation. it s a dramatic played out amidst talk there could be other problems out there. kelly o grady has more from los angeles. kelly. good morning to you, neil. yes, it s the second biggest banking collapse in u.s. history. the first major one since 2008 and it all happened in the span of 48 hours, what started this is svb found its self short on cash. the stock was plummeting. invests warned they might not be able to raise money and a bank run and loss of clients and simultaneously tried to withdraw fund. and the regulators have taken over it and insured depositors will gain access by monday. fallout could be dire. roughly 50% of venture capi
possible leveraged or behind the eight-ball banks and we hear that big money center banks are a whole lot more capitalized than back then. what do you think? obviously, this is an important lesson for every company, not just startups and venture communities. this is a highly speculative portfolio. i m not blaming the fed, i m blaming management. i ve told my portfolio companies, i do not want to see more than 20% of our liquid assets in any one institution. people felt that way about bear-stearns and lehman brothers. banks blow themselves up all the time because of weak management or management mistakes. neil: all right. so, could there be something systemic here? obviously, a lot of nervousness before the markets open on monday. wall street skid more than 300 points yesterday. for all at wall street, the worst week of the year thus far and it s been a bumpy year thus far. let s go to the case capital