“The Big Short” investor Michael Burry said regulators’ extraordinary action to backstop regional banks should be enough to resolve the current crisis and stabilize the financial markets. “In October 1907, Knickerbocker Trust failed due to risky bets, sparking a panic. Two others soon failed, and it spread. When a run began on a healthy Trust, J.P. Morgan made a stand. 3 weeks later the Panic resolved & markets bottomed,” Burry said in tweet Wednesday. “A stand was made this past weekend.” More than a century ago, the financial crisis known as the “Panic of 1907” took place where there were numerous runs on banks, including Knickerbocker Trust. The crisis was over in just three weeks after J.P. Morgan, founder of the bank that bears his name, pooled money with other financiers to bail out the banking system. The founder of Scion Asset Management appears to believe that history should repeat itself given the immediacy and magnitude of the rescue measures from regulators. On Sunday evening, two days after Silicon Valley Bank was seized, the government announced that all depositors involved would get their money back and it would provide an additional funding facility for troubled banks. Burry, known for calling the subprime mortgage crisis, said Monday evening he expects the unfolding banking mess to be over soon without severe damage. “This crisis could resolve very quickly. I am not seeing true danger here,” Burry said in a now-deleted tweet. Burry shot to fame by betting against mortgage-backed securities before the 2008 crisis. Burry was depicted in Michael Lewis’ book “The Big Short” and the subsequent Oscar-winning movie of the same name. Investors were not quite so sure the upheaval was over Wednesday. The sell-off deepened on Wall Street as concerns have spread beyond regional banks. Shares of Credit Suisse , a Swiss bank that has large U.S. and global operations, tumbled more than 20% to another all-time low.