It all began in America with a little-known bank.

A major development in the banking world.

The FDIC just reported the California regulator shut down Silicon Valley bank.

But when America sneezes, the rest of the world catches a cold.

And pretty soon, the failure of a couple of small American banks had triggered fear and turmoil across the global banking sector.

Now, she is in Credit Suisse, one of the world's most important systemic banks.

Have slumped more than nine percent overnight in the aftermath of the collapse of the Silicon Valley bank.

Tonight, an historic deal brokered by the Swiss government.

Banking giant UBS agreeing to buy rival bank Credit Suisse for $3.2 billion.

A sharp decline in the shares of Germany's Deutsche Bank have renewed concerns for the world's major financial institution.

With the market still jittery, for many in the world of finance, it's brought back memories from 15 years ago.

The moment that nobody wants to repeat.

The global financial crisis of 2008.

Lehman Brothers is going bankrupt.

And financial markets from Asia to Europe are doing their utmost to prevent Monday from turning from dark to black.

It was the worst day on Wall Street since the crash of 1987.

They will talk about this for generations to come.

People are still talking about the crisis of 2008.

But a generation on, have the lessons that we'll learn back then, already been forgotten.

Back in 2008, we were told that some banks were just too big to fail.

But will governments still want to keep stepping in to bail them out when things go wrong?

How much are we willing to tell parts of the financial system that will always be there for them, even if they've made bad decisions and risky decisions?

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