Ripplin' and Cascadin'

Did a breaking story Sunday-Monday on a bank run. A first for me! Was still catching my breath on Wednesday. Members of the high-tech and venture capital communities — as well as many in the world beyond — braced today in the immediate aftermath of last week’s Silicon Valley Bank failure. The regulators also said they had taken control of New York-based Signature Bank, which had also faltered, after becoming a major banking service provider to companies in crypto markets. The regulators announced “systemic risk exceptions” for both banks. This exception allows the regulators to take extraordinary action that goes beyond what they are are minimally required to do, and is used in rare circumstances when inaction may lead to a snowballing of investor fear. On Friday, the Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation, and the FDIC was named as receiver. That came as the bank struggled to meet customers’ often-frantic requests for withdra...