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1:41Now PlayingWorld leaders react to Silicon Valley Bank collapse | USA TODAY
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1:41Now PlayingSilicon Valley Bank's collapse prompted leaders to respond as customers in Southern California lined up to withdraw funds from First Republic Bank.
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From winemakers in California to startups across the Atlantic Ocean, companies are scrambling to figure out how to manage their finances after their bank suddenly shut down Friday. The meltdown means distress not only for businesses but also for all their workers whose paychecks may get tied up in the chaos.
California Gov. Gavin Newsom said Saturday that he's talking with the White House to help "stabilize the situation as quickly as possible, to protect jobs, people's livelihoods, and the entire innovation ecosystem that has served as a tent pole for our economy."
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