Roku held nearly $500 million at Silicon Valley Bank and does not know if it will recover the funds

[MarcATL]

What should be the result here, another corporate bailout?

These companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds | CNN Business

Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit Insurance Corporation, the streaming technology company disclosed in an SEC filing.

amp.cnn.com

 

[odanny]

No bailout, they eat $500 million. If that is not sustainable, Roku becomes Radio Shack.

 

[pknopp]

How a CEO could hold this much money in any one place should mean he is quickly an ex-ceo. It's good that there is nearly $500 million there to cover for the banks losses as opposed to the people doing so.

 

[CrusaderFrank]

Contagion?

 

[CrusaderFrank]

What should be the result here, another corporate bailout?

These companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds | CNN Business

Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit Insurance Corporation, the streaming technology company disclosed in an SEC filing.

amp.cnn.com

What were they getting in exchange for the deposits? No CFO is dumb enough to leave that much cash there without getting something in return

 

[MarcATL]

It looks like it's just about 25% of their income so it shouldn't be fatal.

 

[BasicHumanUnit]

What guarantee do you have that YOUR savings and investments won't vanish next ?
This is pretty much par for the course as former "free" societies convert to authoritarian ones.

I could see this as the actual beginning of the collapse we all have heard about.
We'll see.

 

[MarathonMike]

What should be the result here, another corporate bailout?

These companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds | CNN Business

Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit Insurance Corporation, the streaming technology company disclosed in an SEC filing.

amp.cnn.com

There should be an investigation into why Roku would put $500 million dollars into a regional bank. Roku executives aren't stupid. Paraphrasing Paul Harvey "let's hear the rest of the story".

 

[justoffal]

What should be the result here, another corporate bailout?

These companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds | CNN Business

Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit Insurance Corporation, the streaming technology company disclosed in an SEC filing.

amp.cnn.com

OH...that's just great.....

JO

 

[odanny]

What guarantee do you have that YOUR savings and investments won't vanish next ?
This is pretty much par for the course as former "free" societies convert to authoritarian ones.

I could see this as the actual beginning of the collapse we all have heard about.
We'll see.

Ummm.....it was a run on a bank that lost $2 billion in loans and could have recovered if panic hadn't created a mass withdrawal. That does not equate to "the beginning of the collapse", at least not in my world.

 

[OhPleaseJustQuit]

.

Good.

We've been telling you for years this was coming.

Eat it.



.

 

[luiza]

What should be the result here, another corporate bailout?

These companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds | CNN Business

Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit Insurance Corporation, the streaming technology company disclosed in an SEC filing.

amp.cnn.com

Any bailouts will disappear fast as most of the1000plus local and otherwise small banks go under .

There is a short end to the take over route because the debts that cannot be paid will soon show up as book assets by the very banks wanting to take them over .

This time the Ponzi scheme is over as will be the Federal Reserve Bank which is a private entity and not even a Bank .

 

[Silent Warrior]

Ummm.....it was a run on a bank that lost $2 billion in loans and could have recovered if panic hadn't created a mass withdrawal. That does not equate to "the beginning of the collapse", at least not in my world.

Apparently not enough depositors had watched "It's a Wonderful Life."

 

[g5000]

What guarantee do you have that YOUR savings and investments won't vanish next ?

The FDIC.

 

[g5000]

There should be an investigation into why Roku would put $500 million dollars into a regional bank.

Why?

Also, SVB is not a regional bank. They have branches all over the world. They are the 16th largest bank in the US.

Half a billion is nothing.

 

[Biff_Poindexter]

What should be the result here, another corporate bailout?

These companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds | CNN Business

Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit Insurance Corporation, the streaming technology company disclosed in an SEC filing.

amp.cnn.com

Nope

 

[odanny]

Apparently not enough depositors had watched "It's a Wonderful Life."

Rename SVB as "Pottersville Saving and Trust" and put it under government oversight.