Intro

In the past week, as spooked customers frantically withdrew $42 billion from Silicon Valley Bank, the U.S. government stepped in to craft a rescue operation for the failed lender.

But efforts to contain the crisis have met resistance, and the fallout of the collapse has already spread to other regional banks, whose stocks have plummeted.

Guest: Emily Flitter, a finance correspondent for The New York Times.

Background reading: 

• The stunning demise of Silicon Valley Bank has spurred soul-searching about how large and regional banks are overseen.
• Here’s what to know about the bank’s collapse.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

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