November’s revelation that the bitcoin giant FTX was nothing but a Ponzi scheme has contributed to the fears. Where were the regulators? Last Friday’s revelation that Silicon Valley Bank didn’t have enough capital to pay its depositors has added to the anxieties. Where were the regulators?
Source: The Confidence Game: What’s Behind Yesterday’s $30 Billion Private Bailout, and the Swiss Bailout of Credit Suisse? | The Smirking Chimp