Joachim Hagopian The big news this week is America’s 16th largest bank, Silicon Valley Bank (SVB) has gone down as the second largest bank failure in US history, all within 48 hours last Thursday and Friday. The 2008 bankruptcy of Washington Mutual Bank is the largest during the so-called Great Recession from December 2007 to June 2009. That financial crisis resulted in the taxpayers’ “too big to fail” bank bailout that also sacrificed the fourth largest investment bank Lehman Brothers as the two biggest casualties in order to ostensibly “save” the unsustainable debtor system from total collapse.…
