A leading fund manager warns that regional banks could cause ‘financial Armageddon’ — unless the government makes 2 crucial moves immediately

• Financial stress stemming from Silicon Valley Bank’s collapse could spread, a top fund manager said.
• But if the government takes these two simple steps, a serious downturn is avoidable.
• Here’s what investors should know about the banking crisis — and how to invest now.

Poor leadership and panic among venture capitalists may be the main reasons why Silicon Valley Bank is no longer in business, but a leading fund manager thinks another institution should also be held accountable after inadvertently causing the biggest bank failure since the financial crisis: the Federal Reserve.

Jay Hatfield, the CEO at Infrastructure Capital Advisors and portfolio manager of the top-performing InfraCap US Preferred Stock ETF (PFFA) and InfraCap MLP ETF (AMZA), is convinced that the Fed’s aggressive, rapid interest rate hikes have put undue stress on banks.