Warren Buffett has weighed in on bank runs, bailouts and the dangers of insuring deposits. Here are 9 quotes that shed light on today's banking crisis.

• Three banks folded last week, stoking fears of a banking crisis and a financial firestorm.

• Warren Buffett has weighed in on bank runs, bailouts, and deposit insurance over the years.

• Here are nine of Buffett's most relevant and insightful quotes about banks.

Silicon Valley Bank, Signature Bank, and Silvergate have all folded in recent days, fanning fears of a banking-sector meltdown and full-on financial crisis.

Warren Buffett, the world-famous stockpicker who runs Berkshire Hathaway, has been studying and investing in banks for more than five decades. Moreover, he's been offering guidance and advice to senior White House officials in recent days, and has discussed buying into ailing regional banks to help calm the current turmoil, reports say.

Some of the investor's remarks are strikingly relevant to the current furore around bank runs, government bailouts, deposit insurance, and poor risk management.

Here are Buffett's 9 best quotes about banks, lightly edited for length and clarity:

1. "It's a business that can be a very good business, when run right. There's no magic to it. You just have to stay away from doing something foolish. It's a little like investing. You don't have to do anything very smart. You just have to avoid doing things that are ungodly dumb." (1996)

2. "The banking business is no favorite of ours. When assets are 20 times equity — a common ratio in this industry — mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks. In their lending, many bankers played follow-the-leader with lemming-like zeal; now they are experiencing a lemming-like fate." (1990)