Tag: Mortgage banks/real estate credit

  • Welcome to the Superprime banking crisis

    Banks for rich people are different from other banks. They used to have more money. The latest banking crisis was characterized by subprime borrowers, particularly people with credit problems who obtained mortgages from bankers who ignored the risk that the borrowers would realistically not be able to pay them. Banks that got into trouble were […]

  • SVB Financial Files for Chapter 11 Bankruptcy Protection

    Silicon Valley Bank’s parent company filed for bankruptcy, facilitating the sale of its remaining assets after the technology-focused bank at its core was seized by federal regulators. SVB Financial Group filed for Chapter 11 protection in New York bankruptcy court on Friday, the largest bankruptcy filing due to a bank failure since Washington Mutual Inc. […]