The failure of SVB and Signature bank has put pressure on U.S. banking regulators as concerns mount about short positions and further failures with mid-tier banks. Jamie Dimon, who’s own JP Morgan, is engaged in advising and funding struggling First Republic, has been critical of banking regulators in his annual shareholder letter predicting it is “not over yet” and will be felt for years.
The failure of SVB, the flag bearer for America’s “West Coast” tech sector, is like a Greek tragedy – heroes funding Americas tech venture sector, the crown jewel in the new global digital space race, brought down by a combination of fate and fiduciary mismanagement.
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