The mystery is why neither SVB Chief Executive Greg Becker nor the federal and state authorities assigned to regulate the bank acted to prevent the crisis. The Fed or the California Department of Financial Protection and Innovation could have required SVB to raise more capital last year, when it was less vulnerable. They didn’t. (AP Photo/Jeff Chiu, file)
In the brief but spectacular collapse of Silicon Valley Bank, we may just have witnessed the best banking crisis ever.
It might even have been useful.
Nobody got seriously hurt, except bank executives who made bad decisions and shareholders who weren’t paying attention.
Those Silicon