During hearings after the recent failures of Silicon Valley Bank, Signature Bank and First Republic Bank — including the last one by the Committee on Oversight Accountability’s Subcommittee on Health Care and Financial Services — several members on both sides of the aisle have asked how can we “end,” “prevent” or “stop” bank failures. Not banking crises or bailouts, but failures. Perhaps that just reflects people misspeaking in the heat of the moment. If so, that’s understandable. But if those words were spoken as intended, whatever initiatives follow won’t likely end bank failures. In the face of uncertainty, firms use adaptation, imitation and trial-and-error to generate profits
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