Dan Davies is the author of Lying for Money and an expert on banking crises. We discuss the latest string of banking failures: Silicon Valley Bank, Credit Suisse and what that means for the financial system.EPISODE LINKSLying for Money https://www.amazon.co.uk/Lying-Money-Legendary-Frauds-Workings-ebook/dp/B078WFT5JVDan Davies's new substack: /backofmind.substack.comTwitter https://twitter.com/dsquareddigestQUOTES“The trouble with fraud is it's like the evil twin of the real economy. It's part of the real economy, and you can't necessarily get rid of it. And it might be that the optimal amounts of fraud to tolerate might be surprisingly high.”“It was actually Credit Suisse that invented AT1 Bonds in the last crisis. The purpose of these securities is that they are meant to provide capital for a bank that's gone into resolution. They were high-yielding instruments, and that's why they were popular. But everyone getting into these things knew or should have known that if the bank gets into real trouble, they could get zeroed out."Silicon Valley Bank looks like it's going to be the best bank ever to go into insolvency. It went bankrupt on US government bonds and agency mortgage bonds.”TIME STAMPSABOUTInvestorama is your guide to the future of investing without the hype. In each episode, reformed investment banker and marketer George Aliferis and his guests take a deep dive into a key topic that shapes our financial future. George is the founder of Orama.tv (podcast & video company), as well as its content arm Investorama, a podcast, YouTube channel and Newsletter.https://linktr.ee/investorama