SVB’s newfangled failure fits a century-old pattern of bank runs...

SVB’s newfangled failure fits a century-old pattern of bank runs, with a social media twist || by Rodney Ramcharan :: The Conversation

Posted by Newsbytes • Profile • 03/30/23 at 03:12AM • Share Economy - Financial - Business • Government • Health - Wellness - Nutrition - Aging • Public Interest • See more by Newsbytes

"Usually banks, like all companies, fail after a prolonged period of lackluster performance. But SVB, the nation’s 16th-largest bank, had been stable and highly profitable just a few months before, having earned about US$1.5 billion in profits in the last quarter of 2022. However, financial history is filled with examples of seemingly stable and profitable banks that unexpectedly failed".... Read more