First Republic was rescued by rivals. Silicon Valley Bank was abandoned by its friends

When 11 of the biggest U.S. banks announced their $30 billion rescue package for First Republic Bank this week, those banks, notably, were coming to the rescue of one of their competitors. When Silicon Valley Bank failed, it was because its closest and most loyal customers, venture capitalists and…#firstrepublicbank #siliconvalleybank #treasury #janetyellen #michaelhsu #federalreservechair #jeromepowell #fdic #martingruenberg #firstrepublic

Source: Reuters: Health - March 18, 2023 Category: Consumer Health News Source Type: news