Lessons from Silicon Valley Bank
The Memo by Howard Marks
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The Fed's Response to SVB's Problems
I doubt our financial system was highly reliant on promises made by SVB and thus subject to extensive counterparty risk. The GFC affected some truly large banks, household names, and most people believed it was on the way to jeopardizing even bigger ones before the government stepped in. There's no reason to think the failure of SVB poses the same risk.
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