Sneak Peek of FinCap Friday: The Demise of Silicon Valley Bank and resources that help explain it
In this week's episode of FinCap Friday: A Bank Run is No Fun, we explain why Silicon Valley Bank imploded last week and describe what causes a bank run to occur in the first place. Silicon Valley Bank was the second largest bank failure in U.S. history, so no wonder it was such a big deal! Teachers everywhere got questions from students about what exactly caused the bank to collapse and whether it's something they should be concerned about. We're switching things up this week and sharing a brief explainer video from the WSJ this week.
Note: We hosted a pop-up virtual PD this week on this subject and will be editing that conversation and releasing shortly.
Other NGPF resources on this topic:
- Podcast in the Classroom: Explaining the fall of the Silicon Valley Bank ((with worksheet)
- EconExtra: Silicon Valley Bank—A Traditional Bank Run but not a Traditional Bank Failure
REMINDER: Today is the deadline for Round 3 of NGPF's FinCap Friday Frenzy Contest!!!
By simply playing FinCap Friday today, your class can enter for a chance to have a virtual guest visit from Yanely, the host of FinCap Friday, plus win a classroom set of her new book, Mind Your Money (to be published soon!) - and we'll even throw in a class pizza party!
About the Authors
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her 10 nieces and nephews!
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