Doyle McManus: Silicon Valley Bank's collapse may be a blessing in disguise
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 Valley libertarians who spent years demanding that government get out of the way earned their comeuppance when ...
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 Valley libertarians who spent years demanding that government get out of the way earned their when they begged the Federal Reserve to save them. "Where is (Federal Reserve Chair Jerome H.) Powell? Where is (Treasury Secretary Janet L.) the tech investor who was a fan of creative destruction until it got too near his bank account.
