This headline is terrible. "First Republic Bank, others affected by failure of Silicon Valley Bank."

The failure of SVB is not CAUSING the failures of other banks. SVB is like the canary in the coal mine. The death of a canary does not CAUSE the death of miners, it is merely an indicator that helps the miners become aware of the danger.

SVB fell as a side effect of rising interest rates. That's the core issue: rising interest rates. We have essentially been living in loony-town for years, with interest rates being absurdly low in an attempt to revive the economy after the crash of 2008. When interest rates rise, it has a predicable and negative effect on bond prices and the stock market. This day was always going to come. SVB fell because it had big positions in bonds.

"Investors will not be protected, Biden said. According to the president, they took a risk and "that's how capitalism works."" This is bull-pucky. THE BANKS ARE ALLOWED to take risks, and when they fail, the government bails them out.

""In 2015, SVB President Greg Becker submitted a statement to a Senate panel pushing legislators to exempt more banks — including his own — from new regulations passed in the wake of the 2008 financial crisis. Despite warnings from some senators, Becker’s lobbying effort was ultimately successful."" - Web Link

The crash of 2008 came about because bankers successfully pressured Congress to remove "the wall" that had been constructed after 1929 to prevent mortgages from being used by bankers like casino money. When safeguards are removed, BANKS FAIL.

As long as politicians (on BOTH sides of the aisle, mind you) are swayed by bank lobbyists to remove SAFEGUARDS, we shall always be vulnerable to bank failures. Bankers get saved, but ordinary workers lose their homes and life savings, because politicians care most about fat campaign contributions. Been there, done that, got the T-shirt.