The collapse of Silicon Valley Bank earlier this month sparked the nation’s first banking crisis since the Great Recession. Most of the drama felt rather contemporary: Its customers were concentrated in the tech sector and startups, and they rushed to withdraw their money online instead of standing in lines.

But, in an article explaining how banking crises have unfolded for the past century, University of Southern California finance professor Rodney Ramcharan makes clear how much today’s banking problems have in common with what occurred not just in the Great Recession but many times before that. His short history of bank runs is a reminder of how regulations can buttress the country’s financial health – and the dangers of rolling them back.

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Emily Schwartz Greco

Philanthropy + Nonprofits Editor

Thousands of banks failed in the Great Depression. Bettmann via Getty Images

SVB’s newfangled failure fits a century-old pattern of bank runs, with a social media twist

Rodney Ramcharan, University of Southern California

Crises fueled by bank runs, starting with the Great Depression, have had something in common: Unexpected changes spur bank failures, followed by general panic and then large-scale economic distress.

Arts + Culture

  • Against baseball's new pitch clock

    Alva Noë, University of California, Berkeley

    In between pitches, it might seem as if nothing is going on. But the game’s drama is still unfurling – you just need to know what to look for.

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