They fell like dominoes. First San Diego’s Silvergate Bank. Silicon Valley Bank followed—the largest bank failure since Washington Mutual in 2008. Then came Signature Bank in New York, then Credit Suisse in Zurich. In the weeks following, shares for San Francisco’s First Republic Bank fell as much as 89%, and Deutsche Bank in Frankfurt was down 8.5% at close of business on March 24, after falling as much as 14% during the day’s trading.
Investors have taken notice. In response to seismic shocks to the banking system, Americans…
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