Money Talks: What went wrong at SVB?

Until last week, most people beyond California and the tech world probably hadn’t heard of Silicon Valley Bank, but its swift collapse made headlines across the globe. On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird examine what brought the bank down and to what extent the panic has been contained–or might still be spreading. Peter Conti-Brown from University of Pennsylvania’s Wharton School says incompetence was behind the bank’s collapse. And former Treasury Secretary Larry Summers tells them the US government’s decision to guarantee deposits should be enough to restore confidence in the banks and prevent fear spreading.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.