A lot of investments aren’t as good as they were thought to be and were only kept afloat by virtually zero interest loans. The fed has kept a pump of cheap money pouring into the economy since the 08 crash and especially in response to covid. This is where the “money printer goes brrr” meme got its legs. Now that the cheap money tap is running dry a lot of those companies that have never turned a profit, those dangerous speculative markets (crypto), and the zombie firms that have just continued on via momentum are hitting a wall. The bank run on SVB was caused by an SVB report of a $1.8 billion loss on investments. Honestly I think these rate hikes will actually keep capitalism afloat longer by pulling the slack out of the system and calling bullshit on these firms that have been kept afloat with Monopoly money. This will surely cause a recession but triggering that now before a larger meltdown occurs is honestly smart. Of course labor is not involved in the decision making process so the expectation will be that the workers take it on the nose