Yes, the banking system under green zealots and spendiholics Biden, Pelosi and Schumer have helped drive inflation to 40 years highs leading The Fed to counterattack and raise interest rates and slow M2 Money supply.
The result? As Bank of America analysts said. Fed tightening ‘always breaks something’. And in this case it is regional and community banks. Or as BofA’s Harnett said, “The Fed Hiked Until It Broke The Regional Banks”.
Despite the attempts from The Fed and Treasury Secretary Janet “The Evil Hobbit” Yellen to mollify depositors, bank deposits contine to sink.
And they are sinking faster at smaller banks than larger banks.
Meanwhile, FDIC bridge loans are exploding in terms of useage.
We all know Biden gets bought off by China and big corporate America. Like The Borg (our Too-Big-Too-Fail or TBTF banks).