Last week, when we learned of the problems of the banks and the impact they could have on jobs and small businesses and banking systems overall, I instructed my team to act quickly to protect these interests. Do you look at that and say, okay, there's a problem here? I think that's idiosyncratic to that bank. I don't think it's idiosyncratic. My sense is all these regionals are still here on Friday, but they're half as big as they were last week. This is the Deep Unking Economics Podcast with Steve Kean and Phil Dobby. Well, the

collapse of Silicon Valley Bank last week can be put down to two things. First, a management team that clearly ignored the falling value of the assets that they held. And second, the fact that the Fed was doing its best to make those assets fall even more. It's no surprise. When you look at the numbers, the question is, is there anyone next? That's this week on the Deep Unking Economics Podcast. So two banks have hit trouble in the last week or so. Last week, it was the old familiar problem, a bank run. On both cases, Silvergate Capital and last week Silicon Valley Bank, they both had one thing in common. Many of their customers were involved in crypto and a lot of their clients were also tech startups. And that was part of the problem in a way, because we've got this growing economic crisis, which has been brought about by rising interest rates and the fears about what that's going to do to company growth. So a lot of those tech startups wanted to take money out and found that they couldn't. So good old fashioned bank run is what happened. But this is part of the problem, isn't it?