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Banking Crises: Understanding the Causes and Consequences Banking crises are often disruptive and have far-reaching consequences for economies and societies. They can undermine financial stability, erode public trust, and lead to severe economic downturns. Understanding the causes and consequences of banking crises is crucial for policymakers, economists, and the general public. In this article, we will delve into the complexities of banking crises, shedding light on their origins, impact, and potential preventive measures. First things first, let's define what a banking crisis is. A banking crisis refers to a situation in which a significant number of banks or financial institutions face severe difficulties or fail altogether. It involves a breakdown in the stability and functioning of the banking system, typically characterized by a wave of bank runs, insolvency, liquidity shortages, or excessive risk-taking. In this episode, Kenny delves deep with Sean Puckett, a banker with CalPrivate, who has ove