After Silicon Valley Bank collapsed, shaking world markets, Nobel economics prize winner Joseph Stiglitz says US authorities "did the right thing" by providing federal money to protect deposits. But the economist also says the financial system needs a rethink to properly bring it into the digital era.
Stiglitz is honest but not reasssuring. Asked by French news agency AFP if the Silicon Valley Bank collapse last week is the first tremor of a major financial crisis, he says he doesn't know. And neither does anyone else.
