Less than 18 hours after my post on problems with the Silicon Valley Bank, regulators swooped in and shut the bank down. it was the 16th largest bank in the country, making this the largest bank failure since 2008 and the second-largest in history.
It remains to be seen if this is the first of many or if the quick action by regulators will preempt further losses in the banking sector. I’m thinking a few more dominoes may fall.
Published 3/10/23. Read full article.