CNN CNN Newsroom June 4, 2024 13:14:00
Get into twehe weeds too much, t by raising rates, bond prices went down, that increased the assets that silicon valley bank was relying on for its balance sheet here, but bigger picture, has the fed raised rates so quickly to spark this bank panic here? >> oh, absolutely. the problem here goes right back to the fed rapidly raising interest rates. this bank did what in other times would have been a very solid investment. they invested in american bonds, the u.s. government bonds. their miscalculation was how rapidly the fed was raising the interest rates, which de-valued the bonds that they he...