Prospect Weekend Reads Week of March 13th Stories from the week you don’t want to miss!
MARIAM ZUHAIB/AP PHOTO
Sen. Mike Crapo (R-ID) is seen at a Senate Finance Committee hearing on March 7, 2023. Crapo was a principal sponsor of a bank deregulation bill in 2018.
The Silicon Valley Bank Bailout Didn't Need to Happen: Debate over the whether Silicon Valley Bank depositors should have been protected should not distract us from the utter incompetence that led to the bank's breakdown. Read David Dayen on the choices that led us to this moment. The Filthy Emissions of Railroad Locomotives—and the Rail Unions Sounding the Alarm: Diesel train emissions are deadly, but they have long gotten a pass from regulators. Sarah Lazare reports on union-led efforts to clean up the sector as part of our partnership with Workday Magazine.
Railroad Companies May Have Merged Before Railroad Merger Announced:The Surface Transportation Board recently announced its approval of the rail merger between Canadian Pacific Railway and Kansas City Southern. As it turns out, corporate executives were already behaving as though the deal had gone through. Luke Goldstein has the story.
The Economy Could Not Exist Without Government: Tech elites were quick to gripe about government intervention when business was booming, even though after Silicon Valley Bank’s collapse they begged for regulators to step in. But as Ryan Cooper argues, Silicon Valley owes its existence to state power.
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