In less than a month, three U.S. banks—Silicon Valley Bank, Signature Bank, and Silvergate Bank—have failed. But oddly enough, the famed short seller Jim Chanos isn’t worried.
"This was NOT a systemic event," Chanos, who rose to prominence after his highly profitable bet against Enron nearly 20 years ago, told Insider Wednesday. "This was a duration-mismatch problem. It only affects a few really dumb, greedy institutions."
