In the month since Silicon Valley Bank collapsed, four possible culprits have emerged. But as long as we have banks, we will always have bank failures, which is why we need regulators to draw the right lessons from the SVB debacle, incorporate them into their procedures, and get back to work.
BERKELEY – When a banking crisis erupted in early March, pundits rushed to the battlements, or at least to their studies, to hammer out columns assigning the blame. Unsurprisingly, those early assessments, based on still-incomplete information, often contradicted one another. It is worth recalling Walter Raleigh’s dictum: those who follow too close on the heels of history risk getting kicked in the teeth.
BERKELEY – When a banking crisis erupted in early March, pundits rushed to the battlements, or at least to their studies, to hammer out columns assigning the blame. Unsurprisingly, those early assessments, based on still-incomplete information, often contradicted one another. It is worth recalling Walter Raleigh’s dictum: those who follow too close on the heels of history risk getting kicked in the teeth.