The bailouts of Silicon Valley Bank and Signature Bank have introduced a new concept to bank regulation: Too Midsize to Fail.These are, we’re told, the second- and third-largest bank failures in history, but that doesn’t make them big banks. Silicon Valley Bank had $209 billion in assets. That’s a rounding error at J.P. Morgan Chase, the largest bank in America, which has $3.3 trillion in assets. The largest bank failure in history (Washington Mutual in 2008; later absorbed into J.P. Morgan Chase) carried a nominal price tag of $307 billion, which in today’s dollars is $435 billion. That’s more than twice the assets of Silicon Valley Bank and three times the assets of Signature Bank. If bank
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