Posted on 05/08/2023 6:12:04 AM PDT by EBH
The largest financial institutions deemed systemically important are expanding even more during the 2023 banking crisis, leading to greater systemic risks, according to economists who spoke to the Daily Caller News Foundation.
These developments and future ones will cause more consolidation in the sector. “Increasing the concentration in the banking industry simply increases the systemic risk,” E.J. Antoni, research fellow for Regional Economics at the Heritage Foundation’s Center for Data Analysis, told the DCNF.
“There were already concerns about concentrations of deposits in the banking industry, both because a few firms already held such a large portion of the deposits and because the number of banks in the country has been declining for years,” he said. “These concentrations spawned the ‘too-big-too-fail’ mentality.”
The largest 25 banks in the U.S. gained $120 billion in deposits while smaller banks lost $108 billion immediately following the SVB and Signature rescues, according to The Wall Street Journal.
Regional bank stocks have rapidly fallen since then. PacWest Bancorp, Western Alliance Bancorporation, Zions Bancorporation, Comerica Incorporated, and KeyCorp have all plummeted since March when the crisis began.
(Excerpt) Read more at dailycaller.com ...
Government and media steering up to a “national bank” that will control how you spend and live.
Just fantastic. Great. Awesome. Exhilarating. Euphoric. Stupendous.
That’s who I thought of at first glance at the headline. Saw them live in 1979. Great show.
Bkmk
LOVE AATW. Great in person!
53 years and still going. They’ll be in Phoenix in June, and I’m tempted.
All part of the plan isn’t it? And all being allowed to happen by the puppets in congress.
Here’s a question for FR:
Pres Trump gets re-elected. One of the first things he does is push to ban private equity, hedge funds, Blackrock, Vanguard, from being able to get Section 8 for any of their reaidential real estate holdings and bans the same from any security or logistic contracts with the State Dept, DOD, CIA, NSA, or any nuke facility. Contracts that are worth billions.
How fast will the Senate and most of the House descend on the White House if utters words to that effect?
It’ll be a perfect example of art imitating life….scene in the Godfather when Don Corleone is talking to Michael-whoever comes to you about a meeting with Barzini is the traitor.
The people will be able to see, with their own eyes, who exactly every puppet to Wall St exists in DC.
If 50% of Bank of America depositors decide to withdraw their money this week, Bank of America will fail.
Re: Section 8
Do you mean Chapter 8 bankruptcy?
Section 8 is a welfare program for housing.
Correct, you see, that’s the shell game being played with regional banks. Honestly if I recall depression era history correct, they now say you are lucky if your bank fails early on...FDIC has your back. Later...not so much.
What was it that President Bush said? “Dec 22, 2008 — “I’ve abandoned free-market principles to save the free-market system,” President George W. Bush
Sadly, the system never really got fixed. And now we watch them rebuild it...build it back better...only to work ourselves into a tyranny of our own making.
I know what Section 8 is.
Blackrock owns what? 80,000 properties. Section 8 everyone of them. Average rent is $1000 a month. Guaranteed check every month and they’re not affected by a fake pandemic or rent moratoriums.
Whatever that math is, it’s a nice chunk of change every month and it’s guaranteed by the US taxpayer.
From the point of view of the big banks there is no risk when government bailouts are always there at the end of the day.
I don’t know the answer but the issue you bring up includes Blackrock, hedge funds, Invitation Homes, and other mammoth investors locking up America’s single family housing stock and it is a very big and very socially disruptive issue. It’s going to require Congress to figure out how to ban the practice so that Americans aren’t crowded out of the chance to own a home.
Some of these funds are rumored to be fronting for China’s national investment program adding yet one more problem with the practice.
I don’t think the answer is very, very simple.
These same hedge funds and equity groups got into buying up all the security companies that were working for the US government overseas in what they call ‘high threat areas’. Iraq, Afghanistan, Pakistan, Israel, etc.
Some of those contracts are worth about $800,000,000 to $1,000,000,000 a year, every year.
All they do is create a shell company, put a few retired Generals on the roster and VOILA, they get the contract. Then they go about gutting the whole thing. Lowering pay and cuts everywhere. When the talent pool starts to get shallow because of pay, they cry to the agency they’re contracted with that they need to lower standards to be able to recruit and then they cut pay some more.
So, my simple answer....
1. Prohibit them from obtaining any contract, in any way, that provides any type of construction, security or logistical support to any government agency.
2. Prohibit them from being able to apply for Section 8 contracts, leaving them having to compete on the open market instead of getting to suck off the government teat every month and never have to worry about a rent check being late.
3. Prohibit private equity from being able to profit from the taxpayers via government contracts.
Pretty simple to me. When they buck, when they sue, when their puppets in Congress storm the White House..put them all on tv and force them to explain themselves.
And if you’re Pres Trump, make sure that you help find and support good candidates to take out the greedy incumbent puppets.
Re: Section 8
Sorry...
I was not trying to insult you.
I assumed you were referring to commercial office buildings.
The posted article was about banks failing.
Section 8 buildings are not going bankrupt or defaulting on their loans.
Commercial office buildings are a debt time bomb waiting to explode.
No insults taken.
And you’re right. Remote work and cry baby hipsters have destroyed the concept of showing up to work in a building somewhere. Other folks can argue the pros and cons. I do not care about their productivity, saving time and money on commuting, etc.
What I do care about and see is, liberal city dwellers moving to small SAFE suburban and rural towns because their remote work allows them. Who then start laying the foundation to ruin them as well.
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