Michael Burry, known for calling the subprime mortgage crisis, said Monday evening that he expects the unfolding banking crisis 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. The founder of Scion Asset Management appeared to have changed his view on the matter as just a day prior, he said the turmoil brought on by the demise of Silicon Valley Bank is comparable to crashes in 2000 and 2008. “2000, 2008, 2023, it is always the same. People full of hubris and greed take stupid risks, and fail. Money is then printed. Because it works so well,” he said in a Sunday tweet. The widely followed investor has been warning of a market bubble over the past year, calling the drawdowns of speculative assets such as cryptocurrencies, meme stocks and SPACs. He has also been particularly negative on the Federal Reserve being behind the inflation curve. It’s unclear what made him change his tune. Burry declined to comment. The collapse over the past several days of Silicon Valley Bank and Signature Bank — the second- and third-largest bank failures in U.S. history — prompted extraordinary rescue action from regulators. In addition to backstopping the deposits at SVB and Signature Bank, federal regulators also announced an additional funding facility for troubled banks. 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.