America’s Financial Regulatory System Is Still Broken
When a bank fails in the United States, questions about who is to blame are often directed at many different regulatory agencies, because the system is complex and hard for outsiders to understand. In the wake of the collapse of Silicon Valley Bank, the case for an overhaul could not be stronger.
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EDINBURGH – When a bank fails, attention inevitably turns to its regulators. Who was asleep at the wheel? Who failed to spot the warning signs? The failure of Silicon Valley Bank (SVB) is no exception.