It Took More Than The Fed To Rattle The Banking System.

A congressional committee met today to discover who is to blame for the mess in our banking system. The list included those on the committee who had voted to weaken regulation, regulators who saw the problem coming but did nothing to force the bank to take corrective action, managers of the bank who risked all on a bet that interest rates would come down just as any reading of the newspapers showed they were heading up, venture capitalists who deposited millions upon millions of uninsured deposits in the Silicon Valley Bank and then all at once pulled them out. When everyone is to blame, no one takes the rap. I should have guessed and not delayed this Comment in order to include what the hearings produced. Apologies.