Peter Schiff: This banking crisis is the cusp of a much worse financial crisis.

The unregulated world of shadow banking may contribute to the next financial crisis – which could be more severe than what occurred in 2008. Get insights into shadow banking and why it should be on your radar screen.

The collapse of Silicon Valley Bank has left many Americans skittish about the banking system, and with good reason. As economics professor Richard Wolff explains, the private US banking system that maximizes the pursuit of profits at all costs is highly susceptible to runs, which explains why the nation’s history is littered with so-called “panics” that collapsed the economy.