The implosion of the California lenders Silicon Valley Bank and Silvergate has investors worried. They're concerned a particular weakness in the banks is mirrored across the financial system. One investor called it the "first sign there might be some kind of crack in the financial system." "This is the first sign there might be some kind of crack in the financial system," Bill Smead, the chairman of Smead Capital Management, a $5.5 billion asset manager, told The Wall Street Journal.