Silicon Valley Bank (SVB) depositors are getting their bailout. On Sunday, the Federal Deposit Insurance Corporation (FDIC) announced deposits would be guaranteed. The bailout was designed to protect SVB’s depositors. These depositors are mainly technology companies, an important pillar of the US economy. A second goal was to stop depositors of other banks from panicking and pulling their funds. The plan will have made SVB depositors happy – but it hasn’t stopped the panic. On Monday morning, shares in US regional bank First Republic were down 67 per cent and PacWest were down 46 per cent. The Eurostoxx index of European…

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