- Ken Griffin Government bailouts are a symptom of the end of capitalism.

Ken Griffin, the billionaire founder of Citadel hedge fund, has criticized the US government's plan to help depositors recover funds from collapsing banks. He argued that the strength of the US economy meant the authorities did not have to take such forceful action, and that risk management is essential. Griffin also lashed out at the US Federal Reserve over the banking turmoil, saying the regulator "was the definition of being asleep at the wheel.""The US is supposed to be a capitalist economy, and that's breaking down before our eyes," Griffin added. Concerns over the health of the US financial system have grown since the failure of one of the country's largest tech lenders last week, Silicon Valley Bank, which had over $200 billion in assets only a few months ago. On Sunday, New York-based Signature Bank was shut down by regulators, becoming the third failure in the US banking industry in less than a week. Global banking stocks have plummeted.