Spare a thought for all those caught up in the spectacular collapse of Silicon Valley Bank. Some might have felt something was not right, but most would have continued to believe that tomorrow was just another version of yesterday. As the smoke clears, the pundits and pocket experts are already pointing to the inadequacy of the bank’s asset and liability match to explain the demise of this once shiny paragon of cutting-edge finance.
But still, notwithstanding the experience of the financial crisis of 15 years ago, the SVB failure came as a sudden and brutal shock.
