Posted on 03/26/2023 10:33:28 AM PDT by C210N
"Now, few bankers are happy about losing money. And the heads of the big US banks are savvy enough to realise that even if they were prepared to take a haircut on their First Republic stake, it still would not solve the US banking crisis given that further bank collapses are virtually inevitable."
(Excerpt) Read more at afr.com ...
Looking for lots of fireworks this week...
The story is behind a paywall.
Don’t forget Maxine Waters loves her banking
Will it be bad enuff to wake bidet out of his stupor to make a speech?
Pelosi sold her bank stocks.
With the Internet, widespread panics are easily started by crooks. I wouldn’t be surprised to see more regulations in the near future.
On real estate and interest rates (article), it’s not so much the interest rates and not only “commercial” real estate. The problem was mostly caused by the groups of speculators who flew into the market like locusts to buy up residential real estate and drive prices too high. Most of them are also holding the properties for perpetual renting instead of selling. Loudmouths in radio ads are bellowing their desire daily to buy residential houses—houses that they intend to rent.
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