Having purchased seven failing financial institutions from the American government[2], I can say categorically that no one knows for certain whether they are safe or not until they either survive or collapse.  Perhaps the classic example has been Silicon Valley Bank, where reportedly there were few at the top who had any knowledge of banking.[3]

That is stunning, to say the least.  Presumably even the bank's most sophisticated depositors and customers had no idea how inept its management was.  But the greatest example today may be Wells Fargo Bank, which was once one of America's and the world's true icons in banking.[4]

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