Not. Good.
The idiot fed dumped trillions into the system, and banks bought bonds and securities for the interest rate.
Then the idiot fed jacked up rates too fast, and these bonds and securities were under water.
Now what??? All it takes is a black swan spark.
I still contend that CRYPTO is also involved.
FTX started the trip wires.
Makes sense. Crisis created by the Fed. Facilitated by inept regulators and bank officers.
Factor in that the clowns just realized the depositors use this new-fangled internet thing for banking, and all we need is a slightly off-white swan for the meltdown to start.
“The speed of the run – it’s very different from what we’ve seen in the past..” -- JPOW about SVB