SVB and First Republic Failures Are Just the Start of a Lengthy Banking Crisis — If You Believe 800 Years of History
The beginning stages of a ‘systemic bank-distress episode.’ The professors reached their conclusions by comparing regulators’ behavior in the current crisis with how they reacted during almost 2,000 historical banking-sector interventions in 138 countries dating back to the 13th century. Stocks and real estate are vulnerable to a systemic banking crisis that could last months, […]