US Senators aren’t just worried a collapse like Silicon Valley Bank’s could happen again—they’re worried that foreign governments could potentially make it happen again.
—an expert on AI, banking, and contagion risk at Western Ontario University. “All the measures that were taken to restore trust in the banking system limit the ability of a hostile attacker,” he says.
Preventing the swell of online panic, whether real or fabricated, is far more complicated. Social media sites in the US can’t be easily compelled to remove content, and they are protected byof the Communications Decency Act of 1996, which shields tech companies from liability for what others write on their platforms. While that provision is currently being challenged in the US Supreme Court, it’s unlikely lawmakers would want to limit what many see as free speech.
“I don’t think we should offer a systemic response to a localized problem,” says North Dakota Republican senator Kevin Cramer—although he adds that he wants to hear “all the arguments.”
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