Eamon Quinn: Parallels between SVB collapse and 2008 banking crisis are very real

In other echoes of 2008, regulators and politicians in the US and Europe rallied to reassure that the emergency measures had worked.

Silicon Valley Bank customers listen as FDIC representatives, left, speak with them before the opening of a branch SVBs headquarters in Santa Clara, California today. Picture: Noah Berger/AFP  via Getty Images)

A banking black hole in the balance sheet, customers scrambling to get their deposits, and the subsequent intervention or fire sale when the lender fails to raise emergency funding are all too familiar. 

The collapse of Silicon Valley Bank (or SVB) will come as little surprise to Irish observers and painfully recall the disastrous banking and property market collapse that unravelled at pace from 2008.