Not necessarily
Companies losing their financials (which are the heart blood of Silicon Valley) is not a good thing
I agree, this is a huge story.
It’s the second largest bank failure in US history.
As for the real economy, there was a guy on CNBC today saying that this bank, being so tied to so many businesses, was responsible for the payroll processing of hundreds of thousands of people. Until the Feds and Wall Street can straighten this out, the Silicon Valley economy will come to a screeching halt.