Hedge fund billionaire Ken Griffin says US should have let SVB die
Citadel founder Ken Griffin says regulators stepping in to save Silicon Valley Bank is a sign that US capitalism is “breaking down.”
Cryptocurrency news by Protos · Protos
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Show Notes
Hedge fund boss Ken Griffin says the US government should have allowed Silicon Valley Bank to go under as a “lesson in moral hazard,” rather than stepping in with a rescue package, reports the Financial Times.
The California-based bank was shuttered late last week when customers withdraw more than $40 billion — over a quarter of its total deposits — in a single day.
But instead of allowing the lender to collapse, regulators came through with a bumper package that they claimed would cover all depositors in full.
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