Founder of Fisher Investments, Ken Fisher, breaks down recent bank failures

SAN DIEGO (KUSI) – The Federal Reserve is placing Silicon Valley Bank under their microscope.

An investigation has begun to figure out how regulators missed the financial collapse.

Furthermore, Moody’s has cut its outlook for the entire United States banking sector, just after the firm placed 6 banks under review for potential credit rating downgrades.

The cause of the collapse is very complicated, as Americans hope no other banks follow the path of Silicon Valley Bank.

The founder and Executive Chairman of Fisher Investments, Ken Fisher, joined KUSI’s Paul Rudy on Good Morning San Diego to explain the situation in more detail.

Fisher tried to calm people’s fears explaining, “overall, banks are in almost the best condition of my 50+ year career.”