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America's new banking crisis; the hazard of Silicon Valley culture; fury in France over Macron's retirement reforms
Fareed Zakaria GPS
Do We Need a Different Model of Banking for the Future?
$43 billion fled out of Silicon Valley Bank in a matter of hours because people were posting panicky tweets, panicky messages on social media. The problem for regulators is what do you do in this hyper-excelerated world where cyber flash mobs can suddenly explode and can be very hard to quench? So that raises a fascinating question. Do we need a different model of banking for the future? Well, there are things you could potentially do to stop these cyber flash mobs from escalating. But frankly speaking, I'm not sure that's going to work."
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