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investor Michael Burry believes in spread of the crisis compliance with collapse of Silicon Valley Bank can be solved “very quickly.”
“I don’t see any real danger here,” said Burry, who predicted the house crash in 2008 and was played by Christian Bale in The Great Brief film, he said in a tweet Monday night that he deleted.
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 SAFEGUARDED.
Burry’s comments come less than a day after he tweeted that “passion and greed” are common themes and that people “take stupid risks, and fail.” Afterward, policymakers “print money” to fix the situation, he said.
The founder of Scion Asset Management is known for his cautionary tweets on the markets and the economy. Burry recently warned of that inflation will rise again and instructed traders to “sell” ahead of the Federal Reserve’s February meeting.
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