How US banking crisis could lead to collapse of Western financial system ...News

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How US banking crisis could lead to collapse of Western financial system
source : Russia Today ( News ) () 31
The growing number of bank collapses signal that entire economies may be failing The US banking industry is reeling from a string of bank failures, which kicked off last week and continue to rattle both domestic and global markets. Economists spell doom and gloom for the economy, despite efforts to stem the fallout. Here are some facts. What happened?California-based, crypto-focused bank Silvergate was the first to announce its impending liquidation last Wednesday. Then came tech and start-up favorite Silicon Valley Bank (SVB), whose implosion on Friday was the largest US bank collapse since the financial crisis

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