At The Intersection Of Power and Money: Bailing Out Silicon Valley

Silicon Valley Bank was, technically, not bailed out, but Silicon Valley most certainly was.

Raising the question, which syllable is stressed, the Sili or the con?

First up, Puck's Teddy Schleifer:

NEW @PuckNews —

Inside the @RonConway-led effort to save Silicon Valley Bank.

Lots of exclusive details on how the billionaire VC tried to convince Washington to decisively act.

A dinner with Obama and Pelosi.

A last-minute call to Kamala.

And more.https://t.co/TKRCVNz6sW

— Teddy Schleifer (@teddyschleifer) March 14, 2023

After Janet Yellen went on Sunday television and said that no bailiout of SVB was coming, an anxious Ron Conway picked up the phone and called Kamala Harris.https://t.co/TKRCVNz6sW pic.twitter.com/9QVynAxEGn

— Teddy Schleifer (@teddyschleifer) March 15, 2023

And linked by Mr. Schleifer:

Looks like venture capitalist Ron Conway - who was panicking and demanding a bailout from his political friends - had up to $200M or so parked at Silicon Valley Bank. https://t.co/oO2zIwVPZ0 pic.twitter.com/wAHufiGtJq

— Matt Stoller (@matthewstoller) March 16, 2023

If interested see also, the posts immediately below: 

"The optimal design of Ponzi schemes in finite economies" 

Former FDIC Head Sheila Bair Says The Feds Had Better Explain Exactly Why They Decided To Bail Out Uninsured Depositors At SVB and Signature