Not too long ago, Main Street America did not know Silicon Valley Bank existed. But now they’ve watched a series of bank runs in real time. Conventional wisdom holds that depositors will pull their money from regional and smaller banks — credit unions among them...
At least one person might be relieved, if not exactly happy, that the banking system is melting. All of a sudden, Sam Bankman-Fried’s alleged misdeeds look like small potatoes. Relatively speaking. But we note that the issues at hand are a difference of degree and...
The U.S. recorded its fourth bank failure this year — the first collapse of financial institutions since 2017, according to data from the Federal Deposit Insurance Corp (FDIC). The most recent failure was on Nov. 1 when City National Bank of New Jersey closed its...
March 16, 2023
At least one person might be relieved, if not exactly happy, that the banking system is melting. All of a sudden, Sam Bankman-Fried’s alleged misdeeds look like small potatoes. Relatively speaking. But we note that the issues at hand are a difference of degree and not of kind. Some of the same factors that led […]
November 18, 2019
The U.S. recorded its fourth bank failure this year — the first collapse of financial institutions since 2017, according to data from the Federal Deposit Insurance Corp (FDIC). The most recent failure was on Nov. 1 when City National Bank of New Jersey closed its three branches with assets of about $120.6 million and deposits […]
