There's no private insurer who's big enough to basically back up the US banking system because you're talking about systemic risk. You have to have the Fed backstop, ultimately the confidence of the banking system. The point right now is that we're in the early stages of I think what is like a banking crisis and what could be a cascading panic.
UnHerd's Freddie Sayers is joined by PayPal co-founder David Sacks to examine the fallout from the collapse of SVB Bank.
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