Bank Runs! What's Going On?
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Published 2023-03-10
Banks don’t fail very often, and bank runs appear to be mostly a thing of the past. The last bank failure in the United States happened in 2020 when a small bank in Kansas failed. That two-year streak was broken this Wednesday with the failure of the crypto focused bank Silvergate, and on Friday with the failure of Silicon Valley Bank.
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All Comments (21)
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Get 25% off Blinkist premium and enjoy 2 memberships for the price of 1! Start your 7-day free trial by clicking here: www.blinkist.com/patrickboyle or scanning the QR code.
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"If you are being audited by a top 12 auditor, you know you are getting number 12." ...this guy deserves his own Netflix special
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"If you find an audit fun, there's possibly something wrong with you"... Pure gold Patrick!
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You know things are bad when a Patrick Boyle video is released about a bank failure, and 1 hour later another bank fails.. a 'sign of the times'
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Legend has it Patrick Boyle goes to the gym wearing a 3-piece suit
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"The last thing a bank needs is to be accused of money laundering" - JP Morgan has entered the chat
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I wonder how Patrick feels about being the guy who made finance cool
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"If you find an audit fun, there's possibly something wrong with you" As someone who is in auditing and loves it, I feel called out right now.
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Patrick is so good at throwing shade he should definitely make an end-of-year compilation, that would be just comedy gold....
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Top 12 auditor. That's the best 12yr old they can find to do the audit.
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I see very little editing in your videos. You must rarely make mistakes in your presentation. You're the man.
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If being investigated causes you to shut down, the problem was NOT the investigations, but the activities that were being investigated.
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Wow! I’ve been an executive in Fintech for 30 years snd have rarely heard someone provide such clarity of facts stitched with a very easy to understand narrative that provides a 700 level Ecom course at any business school in the world, nice job sir, thank you! I have forwarded this video five times already this morning and I have text conversations going on with peers including my son and my godson who have recently come in to work in the Fintech space
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"If an audit is fun for you, there is likely something wrong with you." Lol!!!!
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Patrick's suit with pocket square is life
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Patrick knows his stuff, and can explain what happened very clearly and quickly, I might add
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I was hoping more of this was going to be about Silicon Valley Bank. I don't think we've seen the last of "old fashioned" bank runs, given the fundamental vulnerabilities of an overstretched credit-based economy in a high-interest rate environment. In a sense, these runs are the result of interest rates having been kept artificially low for so long that we now have an entire generation on Wall Street, in venture capital, and on day-trading platforms who have never experienced 10% interest rates and never imagined rates getting that high. Now they are realizing how little they knew they didn't know, and they are panicking.
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I've finally figured out Pat's comedic formula, or rather a piece of it that I love so much. Whether its the "sultry wood nymph" or the "band members of Mars Junction" when Patrick chooses to throw shade, he rightfully throws it at the absurd. Great shit, wonder what'll come of the future economic collapse or shift material.
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This channel is becoming a must-watch, as financial scandal upon scandal (...SVB, Silver Gate) reveals itself. The interest rate tide has gone out, and many financial corporates are swimming butt naked!
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Patrick’s comedic burns are so dryly presented it could absorb humidity in the air.❤. Another great and informative video, edifying as always.