President Joe Biden sat down with MSNBC for a puff piece. It went about as you would expect. The best part about the interview was when the president said “we can’t let Obama” get re-elected. Here is the clip: WATCH: Biden Staffer Tries to Stop the Interview, Old Joe Says ‘We Can’t Let Obama’ Get […]
Archives for May 2023
Banks tighten credit standards, loan demand weakens, Federal Reserve’s SLOOS finds
The Federal Reserve’s much-anticipated Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices is out. It is everything you expected it to confirm: tighter standards and weaker demand. Here is a summary of the SLOOS findings (emphasis ours): “The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in […]
What did Jim Cramer say about Western Alliance?
So, Western Alliance, another troubled regional bank, is on the cusp of failure. The company is exploring a possible sale. What did CNBC host Jim Cramer say just a couple of weeks ago? We have the receipts: Western Alliance is back and it's stronger than ever!! that's the big takeaway so far! — Jim Cramer […]
Market cap of regional banks collapse 70% since January, data show
Everything is fine. The U.S. banking system is “sound and resilient.” Don’t panic. Your deposits are safe. The banking crisis has been resolved. These have been the clarion calls of the Biden administration, the Federal Reserve, the Treasury Department, and Jim Cramer. Well, not quite. It looks like PacWest and Western Alliance are next to […]
Jerome Powell says banking system is ‘sound’; PacWest Bancorp crashes 56% in after-hours trading
“The US banking system is sound and resilient,” the Federal Open Market Committee said in a statement. The heart of the stress of the banking system — Silicon Valley Bank, Signature, and First Republic — “have now all been resolved.” Hours after these statements were delivered to the public, two more banks could be on […]