The financial fallout from Silicon Valley Bank's failure continues, and Goldman Sachs might be along for the ride.
Let’s step back a bit: In early March, Moody’s told SVB privately that it was facing a potential downgrade. In response, the bank reached out to Goldman for advice on how to right the ship.
It is possible that the $100 million fee doesn’t get paid out to Goldman. Some government officials are asking for a clawback of bonuses that SVB paid to executives and profits they made from selling stock. And the Justice Department, which is investigating SVB, has worked more generally to claw back incentives.
So what happens now? Nobody can know for sure, but it seems like the financial world’s eyes will certainly be trained on Goldman in the short term.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Republicans Blame Silicon Valley Bank Failure on ‘Wokeness’Buying too many Treasury bonds is extremely woke, obviously.
Read more »
Silicon Valley Bank parent, CEO, CFO are sued by shareholders for fraudSVB Financial Group and two top executives were sued on Monday by shareholders who accused them of concealing how rising interest rates would leave its Silicon Valley Bank unit, which failed last week, 'particularly susceptible' to a bank run.
Read more »
Analysis: The one pound rescue: inside the rush to save Silicon Valley Bank UKThe swift collapse of Silicon Valley Bank in the United States, the nation's biggest bank failure since the financial crisis, initially caught Britain's regulators off guard. But within hours on Friday evening it was clear the window to rescue SVB's UK arm was tight.
Read more »
The US Takes Emergency Measures To Protect All Deposits At Silicon Valley BankFederal regulators said Sunday that it was taking emergency measures to prevent contagion at other small and regional banks in the wake of Silicon Valley Bank's sudden implosion.
Read more »
‘Could have been devastating’: Utah officials eye new regulations after Silicon Valley Bank failureBefore the U.S. government announced Sunday that it would ensure all Silicon Valley Bank clients had access to their many, Utah was prepared to intervene and help local companies whose assets sat in the failed bank make payroll, Gov. Spencer Cox said at a town hall Monday.
Read more »