Larry Summers says Silicon Valley Bank doesn't present 'systemic risk'

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Larry Summers says Silicon Valley Bank doesn't present systemic risk as long as it's handled reasonably

have all sold off. And regional lenders like First Republic, Signature Bank and PacWest are also plunging.

"You saw substantial moves even in the country's largest banks in their stock prices," he said."I think there may well be an element of overreaction in that."

 

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Asking Summers for banking advice is like asking the fox what happened to all the chickens. 🦊🍗 He engineered then profited from deregulation, which led to financial collapse, with SVB just the latest casualty.

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