by Jean-Louis Gassée Silicon Valley Bank (SVB) made and lost chancy bets on long-term bonds. This concerned depositors who in turn worried other depositors, starting a chain reaction, a massive exit of funds. SVB didn’t have enough liquidities, became insolvent and is now in the hands of the FDIC (Federal Deposits Insurance Corporation). Bank runs are an old phenomenon. According to Wikipedia, the first known bank runs go back to the 16th century, followed by the Tulip Manias, the South Sea Bubble, the French Mississippi Company, and many more over the ages. I won’t venture to say bank runs are…
