My Take: The SVB Fiasco From an Ex-Banker

Photo by Mariia Shalabaieva on Unsplash

As the financial world holds its collective breath with the closure of Silicon Valley Bank, it brings to mind the Great Savings and Loan Debacle of the 1980s. During the years from1980 through 1988, 563 Savings and Loans (S&Ls) failed and were closed and that didn’t count all the forced and voluntary mergers. In fact, according to the FDIC, the collective net worth of all the S&Ls in the U.S. was zero. Zero! I saw…