Silicon Valley Bank sold its bond portfolio last week to Goldman Sachs, a move that reportedly set SVB failure in motion and caused depositors to flee.
FOX Business senior correspondent Charlie Gasparino discusses the collapse of Silicon Valley Bank and calls for the Fed to pause rate hikes on 'Kennedy.'
Goldman Sachs was the purchaser of the bond portfolio that Silicon Valley Bank booked a $1.8 billion loss on, setting SVB's failure into motion.The loss was the reason the technology-focused lender attempted a $2.25 billion stock sale last week usingThe capital raise failed as depositors fled, and investors worried SVB would have needed even more capital.
In this photo illustration a Goldman Sachs Group logo seen displayed on a smartphone with a Goldman Sachs Group logo in the background. The transaction was carried out "at negotiated prices" and netted the bank $21.45 billion in proceeds.was handled by a division separate from the unit that handled SVB's stock sale, according to a person familiar with the matter.
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