The largest bank failure in American history happened in 2008, at the height of the Great Recession and the big bank bailouts that helped birth a major right-wing movement. The second- and third- largest ones happened last week.

Federal regulators moved quickly on Friday to take over Silicon Valley Bank (SVB) after it became insolvent. Over the weekend, they did the same for New York-based Signature Bank, which had seen customers withdraw billions after SVB’s collapse. On Sunday, the Treasury Department, the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) assured the customers of both banks that they would be able to access all their funds on Monday, hoping to prevent bank runs elsewhere and ensure companies with millions parked in the banks can make pa…