Treasury Secretary Janet Yellen said Sunday that federal government bailouts are not coming for Silicon Valley Bank, which collapsed last week.
and is now under the control of federal regulators. The bank held a reputation as a go-to for a number of Silicon Valley industries and startups. Y Combinator, an incubator startup that launched Airbnb, DoorDash and DropBox, regularly referred entrepreneurs to them.
A worker tells people that the Silicon Valley Bank headquarters is closed on March 10, 2023, in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Deposit I "We want to make sure that the troubles that exist at one bank don't create contagion to others that are sound," she said.
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