If the rest of the world, including some Barbadians are starting to have episodes of post-traumatic stress disorder (PTSD) following the sudden collapse of two banks in the United States, no one can blame them.Those operating in the financial sector are closely monitoring the situation in the US with the failure of Silicon Valley Bank (SVB), an institution that focused on lending to tech companies.The perception that the collapse of this institution with US$175.4 billion in customer deposits was an isolated event and its impact limited to a particular group has been erased, as we learned that Signature Bank, with assets of US$110 billion has also collapsed in equally dramatic and rapid fashion.Some may wonder what these developments have to do with us in Barbados. One only has to recall the housing market crash in the US in 2007 that mushroomed into a global financial meltdown.
