Mark Cuban: The Fed should IMMEDIATELY buy all the securities/debt the [Silicon Valkey Bank] owns at near par

Mark Cuban has said: The Fed should IMMEDIATELY buy all the securities/debt the [Silicon Valkey Bank] owns at near par, which should be enough to cover most deposits. Any losses paid for in equity and new debt from the new bank or whoever buys it."

He also said: “This is who the Fed needs to think about.”

He said: "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.”

Former Treasury Secretary Larry Summers chimed in, too. “There are dozens, if not hundreds, of startups that were planning to use that cash to meet their payroll next week,” he said.

Elon Musk has also said he is "open to the idea" of buying Silicon Valley Bank.

Read more: https://unusualwhales.com/news/elon-musk-just-said-he-is-open-to-the-idea-to-buy-silicon-valley-bank-and-become-a-digital-bank