ALIYAH AFFAIRS: Many who have immigrated to Israel from the former Soviet Union since the Russian war with Ukraine have encountered a bittersweet experience.
The ‘cost-of-living crisis’ is rightly a dominant problem in our national conversation, but, as many people have pointed out, millions across the UK have lived with the reality of struggling to have enough income to meet their day-to-day needs for a long time.
Silicon Bank, Signature Bank, and First Republic Bank once represented the gold standard of Relationship Banking. Wall Street was enthralled by the ability of these banks to attract low-cost deposits that could not be explained, or justified, by economics. Investors became convinced that the value of the banker-client relationship at these banks justified premium valuations. Over the past decade, the fantasy of Relationship Banking was rewarded as if it was a form of financial alchemy.