patrick.net

Between fighting inflation and letting some banks fail, the Fed chose the latter.

Eman says

Between fighting inflation and letting some banks fail, the Fed chose the latter.

Good choice.

Back in March Powell said the U.S. banking system is "strong and resilient," voicing confidence in the nation's financial system and the safety of bank deposits.
That should have been an obvious signal that a banking collapse was imminent.

The press is working hard to down-play and obfuscate this debacle, imagine if this shit happened when Trump was in office.

"According to FDIC data, the total assets of federally-insured banks that have collapsed in 2023 is, in inflation adjusted terms, more than the total of 25 banks that failed in 2008.
The New York Times reported; “The three banks held a total of $532 billion in assets. That’s more than the $526 billion, when adjusted for inflation, held by the 25 banks that collapsed in 2008 at the height of the global financial crisis.”

Robert Sproul says

The press is working hard to down-play and obfuscate this debacle, imagine if this shit happened when Trump was in office

They would call it financial holocaust or some other shite.

https://en-volve.com/2023/05/04/first-horizon-shares-crash-after-td-bank-deal-terminated/