> If you want people to blame, it’s Newt Gingrich and Bill Clinton for repealing the Glass Steagall Act. Sure, and we should blame Hammurabi while we're at it.

> If you want people to blame, it’s Newt Gingrich and Bill Clinton for repealing the Glass Steagall Act. Sure, and we should blame Hammurabi while we're at it. SVB was the case of a bank being stupid and not hedging against its risks. And why should they? Even if you massively mess up, there's a high probability the Fed does something to manipulate the market so you end up being just fine. As long as you aren't the worst 1-3 positioned banks - you'll be fine. The problem is the Fed and the incentives it creates by allowing banks to enjoy profits in good times but almost never suffer losses in times of incompetence.