Silicon Valley Bank's implosion is reminiscent of 2008 financial crisis

Treasury Secretary Janet Yellen said Sunday the government wants to avoid financial "contagion" from Silicon Valley Bank's implosion, but while the US rules out a bailout it reportedly is considering safeguarding all of the fallen institution's deposits.

"There is concern that this is the biggest collapse of a financial institution in America since the crisis of 2008", says David Smith, Washington Bureau Chief, The Guardian.

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