SVB’s failure proves the U.S. wants tighter banking rules so that each one clients’ cash is protected

The run on Silicon Valley Bank (SVB) SIVB— on which practically half of all venture-backed tech start-ups within the United States rely — is partially a rerun of a well-recognized story, nevertheless it’s greater than that. Once once more, financial coverage and monetary regulation has confirmed insufficient.

The news concerning the second-biggest financial institution failure in U.S. historical past got here simply days after Federal Reserve Chair Jerome Powell assured Congress that the monetary situation of America’s banks was sound. But the timing shouldn’t be stunning. Given the big and…