Did social media cause the banking panic?

Did social media cause the banking panic?
After the fall of Silicon Valley Bank, the idea of faster bank runs is understandably causing concern. (Image: Getty)
The Economist
The banking turmoil that has sent a handful of American and European lenders to the wall in recent weeks has a new feature. Use of social media and messaging apps, which spread information at lightning pace to an ever-larger group of panickers, marks a break from past crises. Meanwhile, new digital-finance tools let nervous depositors withdraw funds as soon as the notion strikes them, whether from offices in San Francisco or ski slopes in Saint Moritz.After the fall of Silicon Valley Bank, the idea of faster bank runs is understandabl...

More Opinion

Fast-food chain float could give Fonterra a steer
Finance

Brian Robins: Fast-food chain float could give Fonterra a steer

After a dearth of IPOs, all eyes are on Guzman y Gomez. 

Brian Robins 20 Jun 2024
More leading, less cheering needed in business development portfolio
Opinion

Peter Griffin: More leading, less cheering needed in business development portfolio

The government wants to double exports - but then cuts budgets. 

Peter Griffin 20 Jun 2024
Health and Safety Reform: Watch the road not the cones
Opinion

Jeff Sissons: Health and Safety Reform: Watch the road not the cones

This govt and the previous one have been starving the health and safety system of funding.

Jeff Sissons 19 Jun 2024
Have we screwed the scrum too far in bank regulation?
Economy

Cameron Bagrie: Have we screwed the scrum too far in bank regulation?

The government's banking inquiry is overdue and welcome. 

Cameron Bagrie 19 Jun 2024