U.S. lawmakers, both Democrats and Republicans, continued to show an appetite for regulating internet privacy. During Facebook CEO Mark Zuckerberg’s testimony on Wednesday before the House Energy and Commerce Committee, representatives called for federal agencies to have more power to make rules on what internet companies can do with sensitive data. “That’s an area we should discuss some sort of...
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Breaking Up SVB Is Hard to Do
With bids for the entity formerly known as Silicon Valley Bank due Friday, potential buyers and regulators are running into an interesting reality: Breaking up—and salvaging—SVB is hard to do. Nearly two weeks after SVB failed, the Federal Deposit Insurance Corp. has yet to find a buyer for the so-called bridge bank that took over SVB’s operations, despite being on the third...
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On a cosmic level, the collapse of Silicon Valley Bank was a mere blip. The murmurs about trouble began last Wednesday, the panic spread via group texts and Twitter threads on Thursday, the bank went under on Friday, the government got its act together on Saturday, and on Sunday every current and former customer of SVB could breathe a cautious sigh of relief.
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