'Twitter-fueled bank run': How social media helped bring down Silicon Valley Bank

DigitalDrifter

Diamond Member
Feb 22, 2013
47,212
25,491
2,605
Oregon
This should be a huge concern to all of us going forward.

"The speedy bank run has raised questions about the fragility of financial institutions in a digital environment marked by easy cash withdrawals and the spread of information on social media and other spaces online, where panic among a few can grow into a stampede for the exit."


The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, took place over less than 48 hours.

Customers withdrew $42 billion -- nearly a quarter of the bank's total deposits -- within a single day last week.

The speedy bank run has raised questions about the fragility of financial institutions in a digital environment marked by easy cash withdrawals and the spread of information on social media and other spaces online, where panic among a few can grow into a stampede for the exit.


 
The pictures of lines at the turned off SVB ATM's and locked doors may not have helped...
 
This should be a huge concern to all of us going forward.

"The speedy bank run has raised questions about the fragility of financial institutions in a digital environment marked by easy cash withdrawals and the spread of information on social media and other spaces online, where panic among a few can grow into a stampede for the exit."





I’m glad my money is spread around. No one bank has more than $250,000
 
This should be a huge concern to all of us going forward.

"The speedy bank run has raised questions about the fragility of financial institutions in a digital environment marked by easy cash withdrawals and the spread of information on social media and other spaces online, where panic among a few can grow into a stampede for the exit."





blaming tweeter? haha people spread information, people panicked because of the conditions our economy is in due to two years of demafacist policies
 
Listen up everyone...

The best way to avoid bank failure in your area is to get vaccinated.

1678842180556.png
 
Twitter? The damage was done by the time people realized that they were about to lose their savings. Like everything else in the corrupt Biden administration, the bank was poorly run with little or no government oversight. The bit-coin scam was also at the root of the collapse and the Biden campaign was knee deep in dirty bit-coin donations.
 

Forum List

Back
Top