Front Burner

The fallout from Silicon Valley Bank's collapse

Today on Front Burner, do the moves to contain the damage done by the collapse of Silicon Valley Bank amount to a government bailout?
People sit in a meeting room in the offices of Silicon Valley Bank in Toronto
The Canadian offices of Silicon Valley Bank in Toronto are shown on Monday. The bank has no deposits in Canada but does have about $900 million worth of loans on its books. (Alex Lupul/CBC)

On Sunday, a group of U.S. government agencies made the extraordinary decision to ensure that everyone who had money in Silicon Valley Bank would be able to access that cash. 

The move comes on the heels of Friday's collapse of the California-based bank following a bank run. Silicon Valley Bank is the second largest bank to fail in the U.S. – the first was Washington Mutual during the 2008 financial crisis. 

Felix Salmon is a Chief Financial Correspondent at Axios and the host of Slate Money. Today on Front Burner he joins us to explain why Silicon Valley Bank went under and what might happen next.

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