Bank failure-just the phrase brings back 2008 nightmares that reverberate around the globe. And that is what happened after the failure of a large bank with deep ties to the tech industry. The failure of SVB was one of the largest in history and caused deep concern that a cascade of bank failures is right around the corner. No administration or fed chair wants to be at the helm of a collapsing American banking industry-the backbone of the World economy. Thus extraordinary measures were taken to stem the fallout, and everyone is holding their breath to find out if it worked.