The massive failure of Silicon Valley Bank is not only sending shock waves through the tech industry, but also through the entire US Banking industry, and it has the potential to disrupt the entire US economy.
In fact, two other banks failed last week as well. Could it be a trend?
That's why federal regulators took swift action to limit the damage yesterday, and why President Biden assured the nation that banks are safe, and our economy remains strong.
But, how and why did this happen, and what can we do to protect our banks, our money, and our economy from meltdowns like this in future?
Listen now, for our discussion with Kent State University Finance Professor, David Pelleg.