“Regulators shut down Silicon Valley Bank on Friday, in the largest U.S. bank failure since the 2008 financial crisis.” — The New York Times, 3/13/23
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Look, I get it, I’m a bank, and with that comes certain expectations. That I’m good with money. That I’ll protect your money. That I know what money is and how it works. But those are outdated stereotypes. Nowadays, banks can be anything, including bad with money.
When you have the last name Bank, your future is pretty much mapped out for you. You go into the family business and do your best. And my best was mismanaging funds so egregiously that it shattered Americans’ confidence in the entire US banking system.