Lesson #562

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High-tech bank runs shake confidence in system

April 10, 2023:

Silicon Valley Bank, Credit Suisse, and a handful of smaller banks closed after confidence in the banking system was shaken in March. Silicon Valley Bank suffered a run triggered by its bonds, while Credit Suisse was absorbed by its rival UBS after years of unrelated problems. Plus, learn the English expression "herd mentality."

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Herd mentality

A 'herd mentality' takes over when everyone follows the crowd

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