Prospect Weekend Reads Week of March 20th Stories from the week you don’t want to miss!
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Rich Bank Dumb Bank: While Silicon Valley Bank was unable to pay its debts, by all appearances Signature Bank seemed to be doing okay. So what caused its collapse? Maureen Tkacik has the story.
The Fed's Silicon Valley Bank Cover-Up Won't Work: Fed officials knew about
Silicon Valley Bank’s troubles long before its collapse. But as David Dayen explains, the agency has willingly weakened its own regulatory standards to the point that the banks it supervises don’t fear penalties. Whose Test Results Should East Palestine Believe?: In the aftermath of the East Palestine train derailment, public confidence in federal environmental testing is sinking fast. Read Gabrielle Gurley on EPA and Norfolk Southern's deficiencies on air quality testing.
The Real Goal Behind the Frenzy Against ‘Wokeness’: If and when Republicans
take national power again, Ryan Cooper writes, it’ll be one more screaming tantrum after the next, while they rob the American people blind in the background.
The Systemic Risk of Big Accounting: Auditors should have been the first line of defense against malfeasance in corporate accounting. Luke Goldstein explains why they failed to sound the alarm on Silicon Valley Bank’s troubles.
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