Mark Cuban called on the Federal Reserve to step in and buy Silicon Valley Bank's debt 'to end the run'
Cuban said a Fed purchase of SVB debt wouldn't constitute a bailout.
"The Fed effectively is providing cash to end the run, and in return getting long-dated assets that will pay at maturity, and for the risk assets, should offer some positive return as well," he tweeted."SVB didn't buy failing assets. No run, and they survive.", Cuban said the Fed should be mindful of the thousands of companies that borrowed from SVB and were required to keep their cash with it.
"Those entrepreneurs and their employees and vendors are feeling the pain. And they are who the Fed should protect," he wrote."And for the record I have zero personal funds there , although several of my portfolio companies do. Probably all in about 8 to 10m dollars. So I can help them. But it's the other 200b and how many employees and vendors ? I'm concerned about them.
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