(Bloomberg) — As the fallout from Silicon Valley Bank’s collapse continues to unfold, investor Michael Burry thinks the crisis could resolve “very quickly.”
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“I am not seeing any true danger here,” Burry, who runs Scion Asset Management, said in a tweet Monday night.
Silicon Valley Bank, a California lender, was seized by federal regulators last week after its customer base of tech startups began withdrawing deposits en masse. The regulator created a bridge bank to hold SVB’s deposits and President Joe Biden said Monday that they would be protected.
Burry’s comments come less than a day after he tweeted that “hubris and greed” are common themes and that people “take stupid risks, and fail.” Then, policymakers “print money” to fix the situation, he said.
Burry has since deleted the tweet.
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