Investors are fleeing after a dismal set of results. Is a Silicon Valley Bank-style wind-down on the cards?
of most zombie flicks, like “28 Days Later”, a film set in an apocalyptic London, is that a terrible disease has spread. It has turned legions of healthy humans into dangerous monsters. These walking dead now stalk the land: from afar it can be hard to discern if they are living or not. A little more than 28 days elapsed between the failure of
There are several problems with this picture. The first is that First Republic lent a lot of money when interest rates were low, including via cheap mortgages. Mark Zuckerberg is supposed to have taken out a 30-year mortgage for his $6m Palo Alto home at 1.05%. The value of such loans will have plunged as interest rates have risen.
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