Tom Essaye Quoted in Yahoo on March 14th, 2023
How the Bank Failures Could Impact You Even If It Wasn’t Your Money
Sevens Report analyst Tom Essaye told Forbes the selloff following Silicon Valley Bank’s collapse and a similar collapse by crypto bank Silvergate last week was “undoubtedly an unwelcome reminder” of the 2008 financial crisis. And noted that SVB tried but failed to stay to afloat after the bank was forced to sell a bond portfolio at a $1.8 billion loss because higher interest rates pushed bond prices “far below” where they were when purchased. Click here to read the full article.