Of course they did. Meanwhile I suspect regulators just looked the other way. Much as they did with FTX. The entire house of cards is about to come tumbling down and the media is going to blame every bit of it on the right.
People think the result of SVB is just one failed bank. They do not realize the ripples of destruction this is going to cause in the coming weeks and months.
They’re already blaming it on Trump.
Our entire financial system is one big daisy chain. The fed creates dollars, dollars buy US Bonds, the G uses the greenbacks to fire off in all directions, a good deal of it to buy votes. The recipients of the greenbacks spend it on goods, those recipients put it into the banks who use it to create more greenbacks by way of loans, and those green backs find their way back to the banks by way of deposits and are then used to underwrite more loans. A big ever expanding circle. I think some call it the multiplier effect. Now then, when the circle reverses, those go to the banks to get their “money” which the bank does not have and call it a bank run. Everyone chasing the money back to its source and they find a zero.