Fed official criticizes SVB collapse as a "textbook case of mismanagement" amidst overall sound banking system.
A top Federal Reserve official has criticized the collapse of Silicon Valley Bank (SVB) as a "textbook case of mismanagement." The bank's failure was due to a lack of oversight and risk management, leading to a financial crisis that could have been avoided. The incident highlights the importance of proper banking regulations and the need for greater accountability in the financial sector.