The Problem With Regional Banks in the S&P Economy

There's 11 sectors in the S&P economy and banking is one of them. But it's the only sector that services all other 10 as well. Now here's the issue. We've got thousands of tiny regional banks. When they were set up up 100 years ago it made total sense to do that because the emerging economy of our country at that time was different in every geography. So what happens when you have a bank like Silicon Valley Bank or First Republic or Signature Bank, these are the most recent failures, it's not because the banking system is broken. It's because the people running those banks were idiots.