Billionaire Bill Ackman warned the US government, “Fix the problem within 48 hours or face destruction.”
Billionaire Bill Ackman said the top management of Silicon Valley Bank (SVB) made a fundamental mistake and should be fired. The collapse of Silicon Valley Bank was recorded as the largest bank failure in the last decade in the United States.
Bill Ackman Commented on the Agenda
Bill Ackman shared his views on the Silicon Valley Bank collapse, which was recorded as the largest bank collapse in the last decade in the USA, on Twitter.
Billionaire Bill Ackman said the US government must guarantee all deposits held by Silicon Valley Bank (SVB) within the next 48 hours. According to Ackman, if the government fails to do this, it will risk the collapse of many financial institutions.
What should the FDIC do? @FDICgov to guarantee all bank deposits by Sunday night before Asia open and call a time out. Run a process to recapitalize @SVB_Financial while managing liquidation of UST and MBS portfolios to be reinvested in short term UST. Determine the capital hole… https://t.co/g96k1b7soy
— Bill Ackman (@BillAckman) March 11, 2023
Bill Ackman, CEO of hedge fund management firm Pershing Square, said in a tweet that the “voice of withdrawing substantially all uninsured deposits from all banks as well as systemically important banks” will be heard in the industry.
Ackman suggested that this would be the result of the world realizing that an uninsured deposit was an unsecured illiquid claim at a failing bank.
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