You are confusing different things. I also agree that banks shouldn’t be the sole intermediating agents for money creation but this has absolutely nothing to d

You are confusing different things. I also agree that banks shouldn’t be the sole intermediating agents for money creation but this has absolutely nothing to do with retail banking. Who exactly is the captive audience in retail banking? Last time I checked there was plenty of choice there. Anyway, SVB clearly is a failure of risk management which is a failure of the regulatory environment.