TUCKER CARLSON: Silicon Valley Bank has gone completely under, and the Biden admin doesn't seem to care

Fox News host Tucker Carlson explains the devastating impact following the collapse of Silicon Valley Bank on Friday's "Tucker Carlson Tonight."

SVB financed nearly half of all venture-backed health care and technology companies in the United States. It also apparently held significant cash reserves for some of the biggest cryptocurrencies, and it's now gone. Federal regulators have renamed it and taken it over and that means an awful lot of people lost an awful lot of money and no, most of that money was not insured, no matter what they tell you. The FDIC only guarantees bank deposits up to $250,000, and according to some reports, more than 90% of all deposits at SBP exceeded that and it's unclear whether those people will ever see their money again. 

In fact, when customers showed up at SVB's branch in Manhattan today to get their deposits back. Managers called the police. So, what we have here is a 1929 style bank run and that's not a good sign for anyone. The question is whether the people who run SVB saw it coming. The CEO, a man called Greg Becker, apparently sold more than $2 million in bank stock over the last two weeks. According to the site, "Unusual Whales," several other high-level employees of SVB, including Chief Marketing Officer Michelle Draper, Chief Operations Officer Phil Cox, General Counsel Michael Zuckert, all sold significant amounts of stock in SVB this year. Did those employees know their bank was in trouble? We don't know and once again, where were the regulators? They’re supposed to prevent this.