Until a few minutes ago I was under the impression that I had already written something in here about the failure of Silicon Valley Bank in March of this year. I can't find any such post now. So ... maybe not. I see a brief reference to it in an item about an FDIC regulation, but that's it. Anyway, my apologies if I didn't. I'm am sure I have masses of lurking readers whom I've disappointed. Here is a very short statement of what happened. I will say something about its significance tomorrow. Just the facts today. In the early days of March there was a run on SVB. The Federal Reserve's long campaign of interest rate hikes, combined with bad managerial decisions, had caused bank losses that made depositors nervous -- hence a bank run right out of the Potterville playbook. People need their liquidity. On the morning of March 10, a Friday, the California Department of Financial Protection and Innovation seized SVB and put it int he receivership of the Federal...