no, it s not a big deal , just this one bank. it s not connected else at all. . and th. e and the fact that this bank failed, just like the fact that fctc failed, has nothing to do d with the fact that the peoplee t who run it spent a ton ofn of their time doing completelye do irrelevant crap that had to do irrelevant that had to dos and with politics and changing american culture. you reassured by that? well, you should know that a cecilia rouse has been thinkingh a lot about this when sheise wo princeton, a university in new worked at princeton, which is a university in new jersey, shereh had her research agendaion. on diversity, equity and inclusion. the title is worth quoting , diversity in the diversity in the economics profession. a new attack on an old problem because the color of your economist is essential. their competence not so much.esh just so you know, by the way, these are the consequences of that attitude. ica. see south africa, wh they don t have electricity to
ba banks in this country, wellsnkco fargo, bank of americauntry,, jp morgan, morgan stanley, collectively lost more tha nne fifty billion in market value in one day. that s quite a hiat s a ht. on the other hand , those bankss still exist. and you can t see that for bank.n valley as of this morning, silicon valley bank or svp, has gone under completely.es the that makes the second biggest bank failure in the history ofef this country and the significant sub finance, nearly half of all venture backed health care and technology companies in the unite healthcai states .ant cash it also apparently held significant cash reserves, just one of the biggestrves for cryptocurrencies, and it s now gone. federal regulators have renamed it and taken it over.ov and that means an awfu l lotf m more people lost an awful lot of money and most of that money was not insured. nhat theyno matter what they t, the fdic only guarantees bank fdicdeposits up to two hundred and fifty thousand. an