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Speculation and theorizing abounds about what caused the downfall of Silicon Valley Bank, the largest bank to fail since the 2008 financial crisis. Pundits point to a range of factors that contributed to the demise of what is now the FDIC-administered Silicon Valley Bridge Bank, N.A. Yet the chief lesson to be learned from the debacle is that the only way to avoid similar failures (and their attendant market contagion) is for our banking system to revert to a system of sheltered banking that separates deposits and investments, à la the Glass-Steagall Act.
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