Today's Liberal News

Jesse Eisinger, ProPublica

So Where Were the Regulators?

The collapses of Silicon Valley Bank and Signature Bank this past weekend were the end point in an all-too-familiar cycle: first the boom, then the breathtakingly speedy bust, and then the bailout. We are now at the postmortem moment—when everyone wonders where the regulators were.Silicon Valley Bank has already become notorious for how obvious its red flags were. Perhaps the most telling was the rapid growth of its borrowing from the Federal Home Loan Banks system.