Understanding the Silicon Valley Bank Run
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Introduction
The Silicon Valley Bank debacle might be the most pitch-perfect encapsulation of everything that's wrong with our current financial, social, and political systems all at once. One of the incredible feats of today's tech moguls is to somehow manage to make the old robber barons look downright civic-minded by comparison. Back in 2018, we at the Intercept spent a lot of energy covering the assault on the Dodd-Frank Wall Street reforms that was then underway. And this bill says, let's let those 25 banks be regulated just like they were tiny little community banks. I got to tell you, a quarter of a trillion dollar bank is not a community bank.
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