| Shockwaves of Silicon Valley Bank failure ripple through Northeast Ohio Crain’s Cleveland Business (subscription required): Gregory Harmon, assistant professor of banking and finance at Weatherhead School of Management, said that while traditional banks tend to be more diversified, the factors that led to Silicon Valley Bank’s demise—including the deep and narrow reliance on tech startups and poor investments in long-term securities that quickly went underwater as interest rates increased—are not necessarily unique to that firm. “But does the rest of the banking community have these problems as well? We don’t know yet,” he said. |
