So, how bad are banks’ balance sheets? Terrible, horrific, downright terrible. Here is a list of financial institutions that are sitting on unrealized losses: h/t CouchPotatoSJW
Archives for March 2023
Federal Reserve expected to slash interest rates by 100 basis points over next 12 months to prevent banking crisis
The upcoming Federal Open Market Committee (FOMC) policy meeting will be perhaps the most important powwow of the year. The Federal Reserve is expected to raise interest rates by just 25 basis points, although Goldman Sachs is anticipating a 0% move. But what happens after the summer could be critical for the financial markets. Investors […]
Is Credit Suisse the next bank to fail? Stock crashes to another all-time low
Credit Suisse, a bank with a 166-year-old history, is on the brink of failing. Shares plummeted to an all-time low on Wednesday after the Saudi National Bank (SNB) confirmed that it would not offer any more financial assistance to the institution. The stock is trading down to 1.60CHF on the Swiss stock exchange. What’s worse […]
Watch: Joe Biden to deliver remarks about Silicon Valley Bank
What crazy 72 hours for Silicon Valley Bank, the U.S. government, and the financial system. President Joe Biden will deliver remarks about SVB, the financial system, and the broader economy. Here is the link: Update Biden: It’s Trump’s fault for what happened!
Janet Yellen confirms U.S. government will not bail out Silicon Valley Bank
The U.S. government will not bail out Silicon Valley Bank, says Treasury Secretary Janet Yellen. Speaking on CBS’ “Face the Nation” on Sunday, Yellen confirmed that the federal government will not intervene and use taxpayer dollars to bail out the bank that collapsed in 48 hours. “Let me be clear that during the financial crisis, […]