Stratrix

The decisions that made it

The Crisis Response · Crisis & Reinvention
The 2023 Banking Crisis Wasn't Contagion. It Was Three Bad Banks and a 48-Hour Fire Drill.
SVB filed $42 billion in withdrawal requests in a single day and was seized the next morning. The story sold was systemic contagion. The truth: a handful of badly run banks the regulators had flagged for years — and a backstop so total it taught everyone the wrong lesson.
8 min