BANK CRISIS: Update
SOME NOTES FROM TODAY's ACTIVITY
Expect a report EOD today with most current bank analysis
What happened?
What problems does this create?
What is the Gov't Response?
What about the Fed?
What about the Confidence issue?
Future:
Goldman report
This is just the beginning; contagion inside and outside of the banking sector is about to get worse. “We ain't seen nothing yet.”
But this specific crisis will be addressed and replaced by a slower moving longer lasting one
the recent disasters were not the result of concentrated and levered loans but rather the result of a bank run.
bad banking practices.
banks suffering a bank run can’t and won’t make everyone whole—just the first money out
So the FDIC stepped in more