The sound and the fury of banking failures

Silicon Valley Bank became a household name for all the wrong reasons. (Image: Getty)

Thu, 23 Mar 2023

When banks blow up, it’s a significant thing. They’re meant to be the institutions that can withstand the ebbs and flows of an increasingly connected global economy and should be the place to park your money – either as a depositor or even as a shareholder. To see two chunky mid-tier United States banks fall over is reminiscent of the early days of the global financial crisis (GFC) 15 years ago. To see a venerable Swiss institution knocked out and taken over by a rival to form a Zürich powerhouse is scarily...

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