Did you even watch the video?
THAT YOU POSTED???
He says it right there in the video
But of course
Its always JOE BIDEN FAULT
When you are one sided narrow minded
You mean kinda like the Lefties/Demmies coming out of the woodwork to blame Trump for this bank's failure and other poised to do the same?
Again, Rock don't read much...
"First, it is true that one proximate cause of SVB’s collapse was the Fed’s decision to raise interest rates starting last March. To raise the capital they needed to make their depositors whole, SVB was forced to sell off (among other things) U.S. Treasury bonds. The bond market is very sensitive to interest rate hikes, so the market price for bonds has plummeted, meaning that SVB sold those at a tremendous loss." - ThirtyFiveEigh
t. When interest rate goes up, bond value goes down.
And why did the FED raised interest rate? It's because of what Biden and his Admin did that drove inflation through the roof.
Of course, Rock will claimed this is not true... just politic
But don't worry... Brandon is quietly bailing out SVB and it's investors without the normies knowing about it... they called it Fed insurance - which this bank do not have. Companies that banked primarily with SVB in UK, China, Ukraine, etc etc are getting their money back from Uncle Sam.