Western Alliance denies ‘shameful’ report it’s the next bank for sale

CNN Business ^ | 5-4-2023 | CNN

[PK1991]

Western Alliance Bank denied reports that it’s exploring a sale or has hired an advisor to explore strategic options. Shares of the regional bank tumbled 36% Thursday, slightly paring back its losses after plunging over 50% at one point on reports that the company is the regional bank latest to explore a potential sale. It also dragged down the broader stock market: The Dow fell 400 points, or 1.2%, and the S&P 500 sank 0.9%. The Financial Times, citing two anonymous sources, reported Thursday that the Arizona-based bank is exploring strategic options.

[PK1991]

Inflation is transitory, banks are strong, unemployment is historically low, here comes the soft landing....

[GailA]

YOU MEAN CRASH!

[desertsolitaire]

Is anybody credibly arguing that the long-term inflation we will have from years of quantitative easing of the money supply is better than letting 2008 crash and the market correct itself would have been?

[PK1991]

I think a lot of company owners and banks would argue that. Elon Musk keeps tweeting the fed should lower interest rates even though inflation has barely budged. If you are borrowing money or have money tied to interest rates, free money is better. Inflation has barely any impact on Elon Musk but a few percentage point increase in interest rates has a huge impact on him.