The tweet and the trust collapse: how banks can fall on a dime
In March’s market contagion, experts see lessons in the rapid erosion of confidence
As trust collapses, so can banks. And quickly. The speed at which information and opinion are shared allows fortunes to turn on the proverbial dime.
The demise of Silicon Valley Bank started with a tweet from Raging Capital Ventures. And one from financial writer Byrne Hobart. A historically bad March 8 press release triggered more tweets – and the fastest bank run in history.
On March 9
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