SVB's collapse, experts say, is nowhere near the larger crises experienced in the last several decades. But a crisis of confidence could cause problems.
Shortly before opening time Monday, branches of Silicon Valley Bank across the country already had lines of customers outside after its takeover by the Federal Deposit Insurance Corporation following the bank's highly publicized collapse—and subsequent takeover by the federal government—over the weekend.
," in which account holders rush to financial institutions in an effort to restructure their savings or withdraw money before it's too late—and potentially destabilize the U.S. financial industry in the process.hoped to avoid—particularly as his administration fights to keep the country from falling into the recession some speculated was coming following record-high inflation and a red-hot jobs market.
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