TWO HUNDRED BANKS AT RISK OF BANKRUPTCY- WSJ
— The_Real_Fly (@The_Real_Fly) March 17, 2023
Janet Yellen Just Poured Lighter Fluid on Every Small Bank in America
What in the world was she thinking? When a bailout was hastily arranged for uninsured depositors at Silicon Valley Bank and Signature Bank, the implication was that the same thing would be done for uninsured depositors at any other banks that failed. But now U.S. Treasury Secretary Janet Yellen is telling us that is not actually what will happen. She just admitted that depositors at a failed bank will only be protected if officials determine that a “failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences”. So that means that depositors at big banks are likely to be protected and that depositors at small banks are much less likely to be protected. In other words, Janet Yellen just poured lighter fluid on every small bank in America.
Why would anyone keep more than $250,000 in a small bank at this point when there is a very real risk of losing all of the uninsured money if the bank suddenly fails?
Nolte: Janet Yellen Admits Government Choosing Bank Bailout Winners and Losers
Dozens of US banks at risk of repeating SVB collapse – study
Many other lenders are also sitting on unrealized losses caused by the rapid rise in interest rates
This has to be the most blatant example of malignant policy I've seen so far.
How does Yellen *NOT* understand "moral hazard" or "incentives?" She does, of course.
Free deposit insurance only for the Big Banks? What could go right?
Remember, three times is #EnemyAction t.co/4axjIvvBcV
— Chris "Early Treatment" Martenson, PhD (@chrismartenson) March 17, 2023
If the Fed does not contain the regional bank collapse, there will be another great depression.
Small/medium banks account for 50% of US commercial and industrial lending, 60% of residential real estate lending, 80% of commercial real estate lending, and 45% of consumer lending pic.twitter.com/wzTMHxSnXI
— zerohedge (@zerohedge) March 18, 2023
Bannon is correct on this…the government is trying to Nationalize the banking system BEHIND CLOSED DOORS!! EYES WIDE OPEN AMERICA!! pic.twitter.com/5owbKIRVSL
— Gina M. Shiffert (@ShiftiGina) March 17, 2023
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