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> none of the failures that have happened in the US in the past few years I assume you are referencing Silicon Valley Bank, which wasn't a small bank and wasn'
by throwaway2037 2y ago
> none of the failures that have happened in the US in the past few years
I assume you are referencing Silicon Valley Bank, which wasn't a small bank and wasn't run by young, inexperienced leaders. In the US, community banks would be 10% the size of SVB at its peak (before the run). Except SVB, can you name any other failures? And were they due to young, inexperienced leaders? I cannot name a single one.
- joecool1029 2y agoRepublic Bank just failed in the past month (not to be confused with the First Republic Bank that failed last year). This newest Republic failure was a bank started by the guy who created Commerce Bancorp which was purchased by TD Bank. The guy is a piece of work: https://archive.is/DwtAx https://archive.is/DwtAx (I wouldn't say he is young but really not the guy for the job given the history and the banking environment now)
- throwaway2037 2y agoFirst Republic Bank didn't fail. It was bought by JPMorgan. No customers lost any money.
- joecool1029 2y agoIt failed: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/first-republic.html https://www.fdic.gov/resources/resolutions/bank-failures/fai...
- helsinkiandrew 2y ago> I assume you are referencing Silicon Valley Bank No: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/ https://www.fdic.gov/resources/resolutions/bank-failures/fai... Many of these had far more, and many far less customers and deposits than Monzo in 2016.