Warren Buffett is 92 years old, and his right-hand man, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) vice chairman Charlie Munger, is 99. It's fair to say that the pair won't be running the show for decades to come. Read More...
TheStreet.com
Silicon Valley Bank Collapse: Large Account Holders Are Unsecured Depositors
Startup companies that had Silicon Valley Bank accounts with more than the $250,000 maximum insured by the FDIC have become unsecured creditors, banking experts said. The majority of account holders at SVB, which on Friday was shut down by regulators and taken over by the FDIC, had balances that exceed $250,000, Gary Zimmerman, chief executive of MaxMyInterest, the New York financial-technology company, told TheStreet. “Silicon Valley Bank had an overwhelming market share of venture-capital firms and portfolio companies,” he said.
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