The current crisis (?) is another step in banking’s progress towards an evolutionary dead end. The future doesn’t need banks. It will need smart risk takers, and new ways to originate and distribute risk.. an opportunity for banks clever enough to evolve!

Credit Suisse is in the headlines for all the wrong reasons. Confidence in the bank is zero. The Swiss National Bank has provided a backstop, but a sale looks likely of the bank that just can’t get it right.

Swift Action by the Fed and around the globe has averted a major tech catastrophe, but the Silicon Valley Bank debacle highlights failure and further crisis to come. Hard Hats Stay On!