> Banks similar to Silicon Valley Bank are essential because they undercut BoA, and prevent the "Canada" situation.

There are plenty of small banks that didn’t ignore when Powell/the Fed were repeatedly saying “inflation ain’t over, interest rate hikes are coming.” We talked about this in another thread. What SVB did wasn’t essential, smart, innovative, etc. There is a reason they are crumbling so catastrophically. And I’ll give you a hint: it wasn’t due to a bold vision or new ideas or being disruptive or whatever.

Simply put: SVB was reckless and went against known information.