The Silicon Valley Bank rescue means regulators have guaranteed deposits for the entire US financial system, Evercore founder Roger Altman says

• The federal rescue of SVB depositors means all bank deposits are guaranteed, Roger Altman said.
• If that's the case, "should the taxpayer allow the shareholders to realize the benefit of that?"
• He also told CNBC that SVB's demise signals fragility in finance as well as out-of-date policies.

The federal government's decision to guarantee all Silicon Valley Bank deposits indicates such backing will extend to the rest of the industry, Evercore founder Roger Altman said.

The bank's collapse demonstrated the "fragility" of finance in an era when people can move millions of dollars with their smartphones as well as the obsolescence of bank regulations and deposit insurance, Altman told CNBC on Monday.