Lewis Fullwood: Silicon Valley Bank went bust in the same way as Ernest Hemingway put it in his novel, The Sun All-Day Rises. He says customers rushed to pull money from the bank and its share price collapsed. But just 36 hours after this all began, the Federal Deposit Insurance Corporation said they didn't take over the bank and placed it into receivership. And events have continued to sort of spiral very quickly from there, he says.
An old-fashioned bank run has caused American regulators to intervene in a big way to save the bank’s depositors. We ask what went wrong, and what risks the fix will pose. Today America, Australia and Britain will cement a military alliance designed to confront an increasingly assertive China. And an Ethiopian prince buried among English kings reignites questions about cultural restitution.
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