“Big Short” investor Michael Burry said extraordinary action by regulators to support regional banks should be enough to resolve the current crisis and stabilize financial markets. “In October 1907, the Knickerbocker Trust collapsed on high stakes bets, causing a panic. Two more collapsed soon and the spread spread. When a run on a healthy Trust began, JP Morgan stepped up. 3 weeks later Panic subsides, markets bottom,” Burry said in a tweet on Wednesday. “Last weekend took a stand.” More than a century ago, there was a financial crisis known as the Panic of 1907, when there were massive runs on banks, including the Knickerbocker Trust. The crisis was over in just three weeks after JPMorgan, the founder of the bank that bears his name, and other financiers pooled funds to rescue the banking system. The founder of Scion Asset Management seems to think history should repeat itself given the immediacy and scale of the regulator’s bailout. On Sunday night, two days after Silicon Valley Bank was seized, the government announced that all depositors involved would get their money back and would provide additional funding mechanisms for the troubled bank. Burry, known for predicting the subprime mortgage crisis, said late Monday that he expected the ongoing banking chaos to end quickly without causing serious damage. “This crisis can be resolved quickly. I see no real danger here,” Burry said in a now-deleted tweet. Burry shot to fame shorting mortgage-backed securities before the 2008 crisis. Bury was portrayed in Michael Lewis’ book “The Big Short” and the subsequent Academy Award-winning film of the same name. Investors were less sure Wednesday’s turmoil was over. The sell-off on Wall Street intensified as concerns spread beyond regional banks. Shares in Swiss bank Credit Suisse, which has a large presence in the US and globally, plunged more than 20% to record lows.