Timeline of Recent Banking Failures in the US

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There is a lot of failure for recent banks and financial institutions in the United States of America as of late. Literally, on the tenth of this very month of May, the United States Federal Deposit Insurance Corporation (FDIC) took control over the collapsing Silicon Valley Bank - an event that followed up what many would describe as the biggest banking collapse to happen in the modern history of America since the collapse of the bank Washington Mutual in 2008. SVB tried to sell shares in order to earn enough money to try to avoid going defunct, but it was not enough to avoid its collapse. This triggered a panic and a banking run that led to the situation we are in right now with the fall of this bank.

Then, on March 12th, the FDIC decided to shut down Signature Bank after a bank run happened with this particular bank on its deposits since customers were spooked by the implosion of SVB. This problem got worse on March sixteenth with the First Republic Bank teetering on the brink of collapse as customers worked to withdraw their deposits.

Meanwhile, the biggest bank in the nation of Switzerland, UBS, agreed on March 19th to go buy its rival Credit Suisse as they believe this will help slow down the banking crisis. All of this seems to be the beginning of issues with the modern financial system that seems to be the fault of short-sighted decisions with securities and following the 'too big to fail' model of economics that many experts in economics warned was unstable.

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