Silicon Valley Bank Crash : Two of America’s major banks have collapsed. California’s Silicon Valley Bank and New York’s Signature Bank. This is said to be the second biggest banking failure in American history. The 2008 collapse of the Washington Mutual Bank was the biggest. It was followed by the 2008 financial crisis bringing a global recession. People are worried that this banking collapse might create another recession like in 2008.
Because if America’s financial system crashes, The impact can be seen all over the world. What happened exactly? How did it happen? And what will be the probable impacts? Let’s try to understand it.
