It used to be that bank runs took weeks, or even months, to gain steam. Not anymore.
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Thanks to the speed of electronic financial transactions and near-instantaneous online communication, the financial panics that felled Silicon Valley Bank and Signature Bank earlier this month materialized in a matter of days.
Is there a solution for preventing this? Bloomberg Law reporter Evan Weinberg looked into this question for a recent story. He joins our weekly legal news podcast, On The Merits, to explain why it’s unlikely regulators will be able to stop flash bank runs anytime soon.
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