Where were the regulators after the SVB crash?

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The failure of Silicon Valley is the cause of a simple misstep: grew too quickly by using short-term money borrowed from depositors, who could be called back at any time, and invested it in long-term assets, who was unable, or unwilling. Sell

interest rates rose sharply, piled up losses that eventually forced it to try to raise new capital, scaring away depositors who pulled out their money in two days. The question after Friday’s takeover of the bank: How did regulators allow it to grow so fast and take on so much risk?

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