• krolden
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    31 year ago

    I keep hearing on the news “the US banking system is healthy and resilient, there is no need to worry”.

    • @pingveno@lemmy.ml
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      1 year ago

      SVB was small compared to US banking as a whole and focused on a portion of the economy that is particularly struggling right now. It’s not a huge surprise that it caught the brunt of the tech industry slowing. Other banks typically will have a more diverse portfolio. Then there’s always the FDIC to back individual’s accounts.

      • krolden
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        31 year ago

        As with the rest of the banking system, failures are more of a cascade than an all at once thing. I wouldn’t be surprised if this was the first of many banks to fail this year.

        • @pingveno@lemmy.ml
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          -21 year ago

          There might be a few, but this was a medium size bank with an unusually vulnerable balance sheet. I don’t think we’ll see anything like Lehman Brothers, with its highly leveraged balance sheet. US regulators have also been far more careful in the past 15 years to prevent the accumulation of systemic risk in the economy.