People forget Bear Stearns failed March 2008 - months of denial followed before the public realized how bad the situation was under the surface.
Similar happening now but much larger scale. They did not fix fundamental issues after 2008 - everything is more fragile.
The Fed preemptively bailed out every bank with their BTFP program and First Republic still failed. The second largest bank failure in history.
There will be more failures. There will be more bailouts. Depositors will be "protected" by socializing losses across everyone.
Our President and mainstream financial pundits are currently pretending the banking crisis is over while most banks remain insolvent. There are going to be many more bank failures as this ponzi system unravels.
ODELL
npub1qn…w95gx
2023-05-01 20:12:08
Author Public Key
npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gxPublished at
2023-05-01 20:12:08Event JSON
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"content": "People forget Bear Stearns failed March 2008 - months of denial followed before the public realized how bad the situation was under the surface.\n\nSimilar happening now but much larger scale. They did not fix fundamental issues after 2008 - everything is more fragile.\n\nThe Fed preemptively bailed out every bank with their BTFP program and First Republic still failed. The second largest bank failure in history.\n\nThere will be more failures. There will be more bailouts. Depositors will be \"protected\" by socializing losses across everyone.\n\nOur President and mainstream financial pundits are currently pretending the banking crisis is over while most banks remain insolvent. There are going to be many more bank failures as this ponzi system unravels.",
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