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Silicon Valley Bank failed because its deposits were concentrated, not because they were uninsured -- the usual account of it is a misstatement.

Drawn from what Jamie Dimon said

What this subject means

Silicon Valley The place as an idea: its appetite for disruption, its moonshots, and what it has given up on.

What Jamie Dimon actually said

  1. Jamie Dimon Chairman and chief executive of JPMorgan Chase
    But they they both had something something unique that we didn't know at the time. I'm going to call them concentrated deposits. Not uninsured cuz people are misstating that, concentrated.

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