DOUBLE BANK SHOT
Talk about bank shots! Silicon Valley Bank (SVB) collapsed and was shut down last week, in the biggest bank failure since the 2008 meltdown. New York based Signature Bank soon followed. What’s going on? Bank-A-Geddon? Margin Call 2? So far it seems the line is being held, and some depositors are getting money. But what happened? Here’s how banks work: Mary deposits money in Bob’s Bank. Bob pays you interest using your money. Bob lends the money you…